Virgin Galactic (NYSE:SPCE) Trading Down 3%

Virgin Galactic Holdings, Inc. (NYSE:SPCE)’s stock price fell 3% on Friday . The stock traded as low as $2.25 and last traded at $2.27. 1,385,806 shares were traded during trading, a decline of 91% from the average session volume of 15,355,279 shares. The stock had previously closed at $2.34.

Wall Street Analyst Weigh In

SPCE has been the subject of several analyst reports. Morgan Stanley restated an “equal weight” rating and set a $4.00 target price on shares of Virgin Galactic in a research report on Thursday, August 3rd. Alembic Global Advisors upgraded Virgin Galactic from an “underweight” rating to a “neutral” rating and set a $4.75 price objective for the company in a research report on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.21.

Virgin Galactic Price Performance

The company has a 50 day moving average price of $3.33 and a 200 day moving average price of $3.89. The company has a market capitalization of $840.74 million, a price-to-earnings ratio of -1.08 and a beta of 1.18. The company has a current ratio of 5.45, a quick ratio of 5.35 and a debt-to-equity ratio of 0.86.

Virgin Galactic (NYSE:SPCE) last announced its quarterly earnings data on Tuesday, August 1st. The company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.05. Virgin Galactic had a negative return on equity of 121.36% and a negative net margin of 15,135.24%. The business had revenue of $1.87 million during the quarter, compared to analysts’ expectations of $2.52 million. During the same period in the previous year, the firm earned ($0.43) earnings per share. The firm’s quarterly revenue was up 424.1% compared to the same quarter last year. As a group, equities research analysts forecast that Virgin Galactic Holdings, Inc. will post -1.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virginia Retirement Systems ET AL acquired a new position in Virgin Galactic in the second quarter valued at about $270,000. California State Teachers Retirement System grew its holdings in shares of Virgin Galactic by 8.1% during the second quarter. California State Teachers Retirement System now owns 305,996 shares of the company’s stock worth $1,187,000 after buying an additional 22,928 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Virgin Galactic by 58.5% in the 2nd quarter. Osaic Holdings Inc. now owns 337,252 shares of the company’s stock valued at $1,307,000 after acquiring an additional 124,425 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Virgin Galactic by 3.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 663,419 shares of the company’s stock worth $2,574,000 after acquiring an additional 22,166 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Virgin Galactic by 120.9% during the second quarter. Tower Research Capital LLC TRC now owns 37,231 shares of the company’s stock worth $144,000 after purchasing an additional 20,379 shares during the last quarter. 28.46% of the stock is owned by institutional investors and hedge funds.

About Virgin Galactic

Virgin Galactic Holdings, Inc focuses on the development, manufacture, and operation of spaceships and related technologies for conducting commercial human spaceflight and flying commercial research and development payloads into space. It is also involved in the ground and flight testing, and post-flight maintenance of its spaceflight system vehicles.