Virgin Galactic (NYSE:SPCE) Rating Lowered to Sell at Wall Street Zen

Virgin Galactic (NYSE:SPCE) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other analysts have also issued reports on SPCE. Weiss Ratings reissued a “sell (e+)” rating on shares of Virgin Galactic in a report on Wednesday, January 21st. Morgan Stanley set a $2.30 price target on Virgin Galactic and gave the company an “underweight” rating in a research note on Friday, December 12th. Jefferies Financial Group cut their price objective on shares of Virgin Galactic from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Susquehanna set a $3.50 price objective on shares of Virgin Galactic in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $3.45.

Virgin Galactic Trading Down 1.4%

Shares of SPCE stock opened at $2.43 on Friday. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 1.87. The stock has a market cap of $177.34 million, a P/E ratio of -0.41 and a beta of 2.20. The stock has a 50 day simple moving average of $2.56 and a 200 day simple moving average of $3.25. Virgin Galactic has a 1 year low of $2.13 and a 1 year high of $6.64.

Virgin Galactic (NYSE:SPCE) last posted its quarterly earnings data on Monday, March 30th. The company reported ($0.98) EPS for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.14. Virgin Galactic had a negative return on equity of 108.78% and a negative net margin of 18,063.93%.The firm had revenue of $0.31 million for the quarter, compared to analyst estimates of $0.41 million. During the same quarter last year, the company earned ($2.53) EPS. On average, research analysts predict that Virgin Galactic will post -16.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Virgin Galactic

Several hedge funds have recently modified their holdings of the company. Measured Wealth Private Client Group LLC grew its position in Virgin Galactic by 32.3% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 132,342 shares of the company’s stock worth $425,000 after acquiring an additional 32,330 shares during the last quarter. Truist Financial Corp raised its position in Virgin Galactic by 78.2% in the fourth quarter. Truist Financial Corp now owns 45,000 shares of the company’s stock valued at $144,000 after purchasing an additional 19,750 shares during the last quarter. ABC Arbitrage SA boosted its stake in shares of Virgin Galactic by 91.0% during the fourth quarter. ABC Arbitrage SA now owns 113,035 shares of the company’s stock valued at $363,000 after purchasing an additional 53,864 shares in the last quarter. Marathon Trading Investment Management LLC acquired a new stake in shares of Virgin Galactic during the third quarter valued at about $401,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Virgin Galactic during the third quarter worth about $42,000. Institutional investors and hedge funds own 46.62% of the company’s stock.

About Virgin Galactic

Virgin Galactic Holdings, Inc (NYSE: SPCE) is a commercial spaceflight company developing and operating spacecraft for private individuals and research customers. The firm’s primary business is suborbital human spaceflight, offering passengers a brief trip to the edge of space aboard its reusable spaceplane. In parallel, the company is building out infrastructure and support services for suborbital payload deployments and microgravity research missions.

The core flight system consists of a carrier aircraft, WhiteKnightTwo, which lifts the spaceplane SpaceShipTwo to high altitude before release.