Virgin Galactic Holdings, Inc. (NYSE:SPCE) Receives $2.26 Average PT from Brokerages

Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) has earned an average recommendation of "Reduce" from the seven ratings firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $2.26.

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on Virgin Galactic from $1.00 to $0.75 and set an "underweight" rating for the company in a report on Thursday. TD Cowen reduced their price target on shares of Virgin Galactic from $2.50 to $2.00 and set a "buy" rating on the stock in a research report on Monday. Truist Financial lowered their price objective on shares of Virgin Galactic from $3.00 to $2.00 and set a "hold" rating for the company in a research report on Wednesday, February 28th. Susquehanna decreased their target price on Virgin Galactic from $2.00 to $1.10 and set a "neutral" rating for the company in a research note on Wednesday, May 8th. Finally, The Goldman Sachs Group dropped their price target on Virgin Galactic from $4.00 to $3.50 and set a "neutral" rating on the stock in a research report on Monday.

Virgin Galactic Trading Up 9.2 %

NYSE:SPCE traded up $0.09 during trading hours on Monday, reaching $1.04. 20,253,377 shares of the company were exchanged, compared to its average volume of 13,102,122. Virgin Galactic has a 52-week low of $0.70 and a 52-week high of $6.17. The stock has a 50 day simple moving average of $1.24 and a 200 day simple moving average of $1.75. The firm has a market cap of $416.04 million, a price-to-earnings ratio of -0.84 and a beta of 1.71. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.88 and a quick ratio of 4.88.

Virgin Galactic (NYSE:SPCE - Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.01. Virgin Galactic had a negative return on equity of 87.99% and a negative net margin of 5,301.61%. The company had revenue of $1.99 million for the quarter, compared to analyst estimates of $2.05 million. During the same period last year, the company posted ($0.57) earnings per share. The firm's revenue was up 406.4% compared to the same quarter last year. As a group, analysts predict that Virgin Galactic will post -0.99 EPS for the current year.

Hedge Funds Weigh In On Virgin Galactic

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank raised its holdings in Virgin Galactic by 19.7% during the 4th quarter. Amalgamated Bank now owns 38,310 shares of the company's stock worth $94,000 after buying an additional 6,311 shares during the period. Strategic Wealth Investment Group LLC raised its holdings in shares of Virgin Galactic by 3.5% during the third quarter. Strategic Wealth Investment Group LLC now owns 245,241 shares of the company's stock worth $441,000 after acquiring an additional 8,391 shares during the period. Commonwealth Equity Services LLC lifted its position in Virgin Galactic by 19.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 56,147 shares of the company's stock valued at $101,000 after acquiring an additional 9,286 shares in the last quarter. Van ECK Associates Corp boosted its stake in Virgin Galactic by 7.2% in the 4th quarter. Van ECK Associates Corp now owns 142,330 shares of the company's stock worth $349,000 after purchasing an additional 9,533 shares during the period. Finally, Swiss National Bank raised its stake in shares of Virgin Galactic by 1.8% in the 3rd quarter. Swiss National Bank now owns 559,000 shares of the company's stock valued at $1,006,000 after purchasing an additional 9,800 shares during the period. 46.62% of the stock is owned by institutional investors.

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.