Virgin Galactic (NYSE:SPCE) Reaches New 12-Month Low at $1.32

Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $1.32 and last traded at $1.35, with a volume of 4950735 shares traded. The stock had previously closed at $1.43.

Wall Street Analyst Weigh In

Separately, Truist Financial dropped their price target on shares of Virgin Galactic from $3.00 to $2.00 and set a "hold" rating on the stock in a research report on Wednesday, February 28th.

Virgin Galactic Stock Down 7.0 %

The company has a current ratio of 5.12, a quick ratio of 5.03 and a debt-to-equity ratio of 0.83. The stock's 50-day moving average is $1.70 and its 200-day moving average is $1.89. The company has a market cap of $532.05 million, a price-to-earnings ratio of -0.83 and a beta of 1.60.

Virgin Galactic (NYSE:SPCE - Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.30) by $0.05. Virgin Galactic had a negative net margin of 7,387.31% and a negative return on equity of 102.01%. The company had revenue of $2.81 million for the quarter, compared to the consensus estimate of $2.99 million. On average, analysts anticipate that Virgin Galactic Holdings, Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Virgin Galactic by 14.3% during the fourth quarter. Vanguard Group Inc. now owns 34,474,498 shares of the company's stock worth $84,463,000 after buying an additional 4,308,723 shares during the last quarter. BlackRock Inc. raised its holdings in Virgin Galactic by 6.1% during the second quarter. BlackRock Inc. now owns 21,550,980 shares of the company's stock worth $83,618,000 after buying an additional 1,229,992 shares during the last quarter. Finally, State Street Corp raised its holdings in Virgin Galactic by 21.3% during the second quarter. State Street Corp now owns 21,546,454 shares of the company's stock worth $83,600,000 after buying an additional 3,777,115 shares during the last quarter. Institutional investors and hedge funds own 46.62% of the company's stock.

Virgin Galactic Company Profile

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.