Virgin Galactic Holdings, Inc. (NYSE:SPCE) Receives $4.81 Average PT from Brokerages

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).

Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) have earned a consensus recommendation of "Hold" from the four brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $4.8125.

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

Institutional Trading of Virgin Galactic

A number of hedge funds have recently made changes to their positions in the company. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Virgin Galactic during the 2nd quarter valued at approximately $27,000. Apollon Wealth Management LLC bought a new stake in shares of Virgin Galactic during the first quarter valued at about $31,000. Pitcairn Co. bought a new stake in shares of Virgin Galactic during the second quarter valued at about $31,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Virgin Galactic during the first quarter valued at about $32,000. Finally, Cerity Partners LLC bought a new stake in shares of Virgin Galactic during the first quarter valued at about $32,000. Hedge funds and other institutional investors own 46.62% of the company's stock.

Virgin Galactic Trading Down 0.3%

Shares of SPCE traded down $0.01 during midday trading on Monday, reaching $3.27. The company had a trading volume of 2,022,951 shares, compared to its average volume of 2,103,859. Virgin Galactic has a 1-year low of $2.18 and a 1-year high of $8.19. The stock has a market cap of $188.32 million, a PE ratio of -0.36 and a beta of 2.13. The firm has a 50 day simple moving average of $3.37 and a 200-day simple moving average of $3.21. The company has a quick ratio of 3.38, a current ratio of 3.38 and a debt-to-equity ratio of 1.60.

Virgin Galactic (NYSE:SPCE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($1.47) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.12) by $0.65. The firm had revenue of $0.41 million during the quarter, compared to the consensus estimate of $0.45 million. Virgin Galactic had a negative return on equity of 98.94% and a negative net margin of 17,828.03%. Research analysts forecast 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.