Virgin Galactic Holdings, Inc. (NYSE:SPCE) Receives $4.20 Average PT from Brokerages

Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) have earned a consensus rating of “Reduce” from the six brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $4.20.

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Virgin Galactic in a research report on Wednesday, January 21st. Wolfe Research reiterated a “peer perform” rating on shares of Virgin Galactic in a research report on Friday, November 14th. Susquehanna set a $3.50 price target on shares of Virgin Galactic in a research note on Thursday, January 15th. Finally, Morgan Stanley set a $2.30 target price on Virgin Galactic and gave the stock an “underweight” rating in a report on Friday, December 12th.

Virgin Galactic Price Performance

SPCE opened at $2.55 on Thursday. The company has a 50 day moving average of $3.12 and a two-hundred day moving average of $3.43. Virgin Galactic has a 52-week low of $2.18 and a 52-week high of $6.64. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 1.87. The company has a market cap of $186.11 million, a P/E ratio of -0.34 and a beta of 2.21.

Virgin Galactic (NYSE:SPCE) last announced its earnings results on Thursday, November 13th. The company reported ($1.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.51) by $0.42. Virgin Galactic had a negative return on equity of 108.00% and a negative net margin of 17,615.71%.The company had revenue of $0.37 million for the quarter, compared to analyst estimates of $0.32 million. On average, analysts expect that Virgin Galactic will post -16.05 earnings per share for the current year.

Institutional Investors Weigh In On Virgin Galactic

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in shares of Virgin Galactic by 61.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,608 shares of the company’s stock worth $53,000 after acquiring an additional 5,205 shares in the last quarter. Bank of America Corp DE increased its position in Virgin Galactic by 34.1% in the 3rd quarter. Bank of America Corp DE now owns 23,002 shares of the company’s stock worth $89,000 after purchasing an additional 5,844 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Virgin Galactic by 44.8% during the 2nd quarter. American Century Companies Inc. now owns 19,845 shares of the company’s stock valued at $54,000 after buying an additional 6,143 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Virgin Galactic by 76.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 16,773 shares of the company’s stock valued at $46,000 after buying an additional 7,274 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Virgin Galactic by 21.9% in the 1st quarter. Rhumbline Advisers now owns 40,487 shares of the company’s stock valued at $123,000 after buying an additional 7,282 shares in the last quarter. 46.62% of the stock is owned by institutional investors and hedge funds.

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.