Brokerages Set Virgin Galactic Holdings, Inc. (NYSE:SPCE) Price Target at $4.81

Key Points

• Virgin Galactic Holdings, Inc. has received a consensus rating of "Hold" from four brokerage firms, with an average one-year target price of $4.81.
• Several institutional investors have increased their stakes in Virgin Galactic, with Federated Hermes Inc. lifting its position by 134.7% in the first quarter.
• In its latest earnings report, Virgin Galactic reported a loss of ($1.47) per share, which was better than analysts' expectations of ($2.12).

Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) has been given a consensus rating of "Hold" by the three brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $4.75.

SPCE has been the subject of several research reports. Wall Street Zen raised shares of Virgin Galactic from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. The Goldman Sachs Group assumed coverage on shares of Virgin Galactic in a report on Monday, June 30th. They set a "neutral" rating and a $3.00 price objective for the company.

Hedge Funds Weigh In On Virgin Galactic

A number of hedge funds have recently modified their holdings of the company. Federated Hermes Inc. boosted its position in shares of Virgin Galactic by 134.7% during the first quarter. Federated Hermes Inc. now owns 1,956,199 shares of the company's stock worth $5,927,000 after acquiring an additional 1,122,535 shares during the last quarter. Wealthquest Corp bought a new position in shares of Virgin Galactic during the first quarter worth $1,340,000. Invesco Ltd. boosted its position in shares of Virgin Galactic by 510.9% during the first quarter. Invesco Ltd. now owns 107,641 shares of the company's stock worth $326,000 after acquiring an additional 90,021 shares during the last quarter. Millennium Management LLC boosted its position in shares of Virgin Galactic by 62.0% during the fourth quarter. Millennium Management LLC now owns 946,956 shares of the company's stock worth $5,568,000 after acquiring an additional 362,421 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Virgin Galactic by 41.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,846 shares of the company's stock worth $87,000 after acquiring an additional 4,381 shares during the last quarter. 46.62% of the stock is currently owned by institutional investors.

Virgin Galactic Stock Down 0.5%

Virgin Galactic stock traded down $0.02 during trading hours on Monday, hitting $3.28. The stock had a trading volume of 964,894 shares, compared to its average volume of 3,448,807. The company has a quick ratio of 3.38, a current ratio of 3.38 and a debt-to-equity ratio of 1.60. The stock's 50-day moving average price is $3.38 and its 200-day moving average price is $3.21. Virgin Galactic has a 12-month low of $2.18 and a 12-month high of $8.19. The stock has a market capitalization of $188.61 million, a P/E ratio of -0.36 and a beta of 2.13.

Virgin Galactic (NYSE:SPCE - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($1.47) earnings per share for the quarter, beating the consensus estimate of ($2.12) by $0.65. Virgin Galactic had a negative net margin of 17,828.03% and a negative return on equity of 98.94%. The firm had revenue of $0.41 million during the quarter, compared to analysts' expectations of $0.45 million. Equities research analysts anticipate that Virgin Galactic will post -16.05 EPS for the current fiscal year.

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.