Virgin Galactic Holdings, Inc. (NYSE:SPCE) Given Consensus Recommendation of "Reduce" by Brokerages

Key Points

• Analysts have a consensus rating of "Reduce" from six firms (2 sell, 3 hold, 1 buy), with an average 12‑month price target of $4.20.
• Shares opened at $2.53, trading below both the 50‑day ($2.85) and 200‑day ($3.35) moving averages, with a market capitalization of about $185 million and a one‑year range of $2.18–$6.64.
• Despite the bearish analyst view, institutional investors hold roughly 46.6% of the stock and several large funds (Vanguard, Goldman Sachs, Millennium) recently increased their positions.

Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) have received a consensus rating of "Reduce" from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $4.20.

SPCE has been the subject of several recent research reports. Morgan Stanley set a $2.30 price target on Virgin Galactic and gave the company an "underweight" rating in a report on Friday, December 12th. Susquehanna set a $3.50 price objective on Virgin Galactic in a research note on Thursday, January 15th. Wolfe Research reaffirmed a "peer perform" rating on shares of Virgin Galactic in a research note on Friday, November 14th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Virgin Galactic in a report on Wednesday, January 21st.

Virgin Galactic Trading Down 1.2%

SPCE opened at $2.53 on Monday. The firm has a market capitalization of $185.02 million, a price-to-earnings ratio of -0.34 and a beta of 2.22. The company's 50 day simple moving average is $2.85 and its two-hundred day simple moving average is $3.35. Virgin Galactic has a 1-year low of $2.18 and a 1-year high of $6.64. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.87 and a quick ratio of 2.87.

Hedge Funds Weigh In On Virgin Galactic

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Virgin Galactic by 26.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,342,026 shares of the company's stock valued at $9,040,000 after purchasing an additional 496,373 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Virgin Galactic by 149.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 573,296 shares of the company's stock worth $1,840,000 after buying an additional 343,444 shares during the last quarter. 683 Capital Management LLC purchased a new stake in shares of Virgin Galactic during the 4th quarter valued at approximately $899,000. Millennium Management LLC raised its position in shares of Virgin Galactic by 118.9% during the 4th quarter. Millennium Management LLC now owns 479,789 shares of the company's stock valued at $1,540,000 after buying an additional 260,594 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in Virgin Galactic by 37,003.2% in the fourth quarter. Federated Hermes Inc. now owns 176,240 shares of the company's stock valued at $566,000 after acquiring an additional 175,765 shares during the last quarter. 46.62% of the stock is owned by hedge funds and other institutional investors.

Virgin Galactic Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.