TD Cowen Lowers Virgin Galactic (NYSE:SPCE) Price Target to $2.00

Virgin Galactic (NYSE:SPCEGet Free Report) had its price objective reduced by equities research analysts at TD Cowen from $2.50 to $2.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price target would indicate a potential upside of 58.73% from the company’s previous close.

Other research analysts also recently issued reports about the company. Wells Fargo & Company cut their price objective on Virgin Galactic from $1.00 to $0.75 and set an “underweight” rating for the company in a research note on Thursday, May 9th. Susquehanna decreased their price objective on shares of Virgin Galactic from $2.00 to $1.10 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Finally, Truist Financial dropped their target price on shares of Virgin Galactic from $3.00 to $2.00 and set a “hold” rating for the company in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.26.

Check Out Our Latest Stock Report on Virgin Galactic

Virgin Galactic Stock Performance

Shares of SPCE opened at $1.26 on Monday. Virgin Galactic has a 12 month low of $0.70 and a 12 month high of $6.17. The business’s fifty day simple moving average is $1.22 and its two-hundred day simple moving average is $1.75. The company has a current ratio of 4.88, a quick ratio of 4.88 and a debt-to-equity ratio of 1.00. The company has a market cap of $504.05 million, a price-to-earnings ratio of -1.01 and a beta of 1.71.

Virgin Galactic (NYSE:SPCEGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. The company had revenue of $1.99 million for the quarter, compared to the consensus estimate of $2.05 million. Virgin Galactic had a negative net margin of 5,301.61% and a negative return on equity of 87.99%. The firm’s revenue for the quarter was up 406.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.57) earnings per share. Research analysts anticipate that Virgin Galactic will post -0.99 earnings per share for the current fiscal year.

Institutional Trading of Virgin Galactic

Hedge funds have recently bought and sold shares of the stock. Axxcess Wealth Management LLC bought a new stake in shares of Virgin Galactic in the fourth quarter worth about $27,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Virgin Galactic during the 4th quarter worth approximately $30,000. Optas LLC bought a new position in shares of Virgin Galactic during the 4th quarter valued at approximately $31,000. Ballentine Partners LLC purchased a new position in shares of Virgin Galactic in the fourth quarter valued at $32,000. Finally, Capital Square LLC bought a new stake in Virgin Galactic in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 46.62% of the company’s stock.

Virgin Galactic Company Profile

(Get Free Report)

Virgin Galactic Holdings, Inc, an aerospace and space travel company, focuses on the development, manufacture, and operation of spaceships and related technologies. The company engages in the design and development, manufacturing, ground and flight testing, spaceflight operation, and post-flight maintenance of spaceflight systems for private individuals, researchers, and government agencies.

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