Virgin Galactic Holdings, Inc. (NYSE:SPCE) Receives $4.81 Consensus PT from Brokerages

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has been given a consensus recommendation of “Hold” by the three analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $4.75.

Several research analysts have commented on SPCE shares. Wall Street Zen raised Virgin Galactic from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. The Goldman Sachs Group initiated coverage on Virgin Galactic in a research note on Monday, June 30th. They issued a “neutral” rating and a $3.00 price objective on the stock.

Virgin Galactic Trading Down 0.6%

Shares of SPCE opened at $3.26 on Monday. Virgin Galactic has a 52-week low of $2.18 and a 52-week high of $8.19. The business’s fifty day moving average is $3.38 and its 200-day moving average is $3.21. The company has a debt-to-equity ratio of 1.60, a quick ratio of 3.38 and a current ratio of 3.38. The firm has a market cap of $187.74 million, a price-to-earnings ratio of -0.36 and a beta of 2.13.

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

Institutional Trading of Virgin Galactic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPCE. Northern Trust Corp increased its position in Virgin Galactic by 39.6% in the 4th quarter. Northern Trust Corp now owns 222,753 shares of the company’s stock valued at $1,310,000 after buying an additional 63,141 shares in the last quarter. Ameriprise Financial Inc. increased its position in Virgin Galactic by 25.1% in the 4th quarter. Ameriprise Financial Inc. now owns 18,193 shares of the company’s stock valued at $107,000 after buying an additional 3,647 shares in the last quarter. Balyasny Asset Management L.P. increased its position in Virgin Galactic by 58.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 49,321 shares of the company’s stock valued at $290,000 after buying an additional 18,240 shares in the last quarter. Cresset Asset Management LLC bought a new stake in Virgin Galactic during the 4th quarter worth approximately $104,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Virgin Galactic by 41.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,846 shares of the company’s stock worth $87,000 after purchasing an additional 4,381 shares in the last quarter. 46.62% of the stock is owned by institutional investors.

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.