Virgin Galactic (NYSE:SPCE – Free Report) had its price target cut by Susquehanna from $3.75 to $2.00 in a research note published on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.
A number of other equities analysts have also commented on SPCE. Morgan Stanley restated an equal weight rating and issued a $4.00 price target on shares of Virgin Galactic in a research report on Thursday, August 3rd. Truist Financial reduced their price target on shares of Virgin Galactic from $3.00 to $1.00 and set a sell rating on the stock in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $3.55.
Virgin Galactic Stock Performance
Virgin Galactic (NYSE:SPCE – Get Free Report) last posted its earnings results on Wednesday, November 8th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.14. The business had revenue of $1.73 million for the quarter, compared to analysts’ expectations of $1.10 million. Virgin Galactic had a negative net margin of 11,299.86% and a negative return on equity of 123.73%. Equities research analysts anticipate that Virgin Galactic will post -1.77 earnings per share for the current year.
Institutional Investors Weigh In On Virgin Galactic
A number of institutional investors and hedge funds have recently modified their holdings of the business. Canada Pension Plan Investment Board raised its stake in shares of Virgin Galactic by 177.5% during the first quarter. Canada Pension Plan Investment Board now owns 2,586 shares of the company’s stock worth $25,000 after buying an additional 1,654 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Virgin Galactic by 18.5% during the fourth quarter. Mackenzie Financial Corp now owns 12,148 shares of the company’s stock worth $42,000 after buying an additional 1,900 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Virgin Galactic by 7.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,368 shares of the company’s stock worth $195,000 after buying an additional 2,271 shares during the last quarter. AtonRa Partners raised its stake in shares of Virgin Galactic by 5.2% during the first quarter. AtonRa Partners now owns 56,953 shares of the company’s stock worth $231,000 after buying an additional 2,821 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Virgin Galactic by 2.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 132,628 shares of the company’s stock worth $538,000 after buying an additional 2,946 shares during the last quarter. 28.46% of the stock is owned by institutional investors.
Virgin Galactic Company Profile
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.
- Five stocks we like better than Virgin Galactic
- How to Invest in Renewable Energy
- MarketBeat Week in Review – 11/6 – 11/10
- How to Invest and Trade Chinese Stocks
- Data giants MongoDB and Snowflake just got upgraded
- What Are Dividend Achievers? An Introduction
- Plug Power at tipping point; it’s make or break time for hydrogen
Receive News & Ratings for Virgin Galactic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virgin Galactic and related companies with MarketBeat.com's FREE daily email newsletter.