Virgin Galactic (NYSE:SPCE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Virgin Galactic (NYSE:SPCE) from a sell rating to a hold rating in a report published on Saturday.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Virgin Galactic in a report on Monday, June 30th. They issued a “neutral” rating and a $3.00 price target on the stock. Jefferies Financial Group decreased their price target on shares of Virgin Galactic from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Virgin Galactic has a consensus rating of “Hold” and an average target price of $4.81.

Virgin Galactic Stock Down 4.4%

Shares of SPCE opened at $2.97 on Friday. The firm has a market cap of $123.28 million, a PE ratio of -0.33 and a beta of 2.01. The company’s fifty day moving average is $3.31 and its two-hundred day moving average is $3.43. Virgin Galactic has a fifty-two week low of $2.18 and a fifty-two week high of $8.19. The company has a quick ratio of 3.38, a current ratio of 3.38 and a debt-to-equity ratio of 1.60.

Virgin Galactic (NYSE:SPCE) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($1.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.12) by $0.65. The company had revenue of $0.41 million for the quarter, compared to analyst estimates of $0.45 million. Virgin Galactic had a negative net margin of 17,828.03% and a negative return on equity of 98.94%. Analysts forecast that Virgin Galactic will post -16.05 earnings per share for the current year.

Hedge Funds Weigh In On Virgin Galactic

Hedge funds have recently made changes to their positions in the business. Apollon Wealth Management LLC purchased a new stake in Virgin Galactic during the 1st quarter worth $31,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Virgin Galactic during the 1st quarter worth $32,000. Cerity Partners LLC purchased a new stake in Virgin Galactic during the 1st quarter worth $32,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Virgin Galactic during the 1st quarter worth $33,000. Finally, Caption Management LLC increased its stake in Virgin Galactic by 112.1% during the 1st quarter. Caption Management LLC now owns 11,555 shares of the company’s stock worth $35,000 after buying an additional 107,315 shares during the period. Hedge funds and other institutional investors own 46.62% of the company’s stock.

About Virgin Galactic

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.