Virgin Galactic (NYSE:SPCE) Earns Sell (E+) Rating from Weiss Ratings

Key Points

• Virgin Galactic's stock received a "sell (E+)" rating from Weiss Ratings, indicating potential concerns about its future performance.
• The company's stock has a consensus rating of "Hold" with a price target of $4.75 as per analyst ratings.
• Despite a recent share price increase, Virgin Galactic reported a negative earnings per share of ($1.47) for the last quarter, which was better than the expected ($2.12).

Virgin Galactic (NYSE:SPCE - Get Free Report)'s stock had its "sell (e+)" rating restated by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other research analysts also recently commented on the company. The Goldman Sachs Group began coverage on Virgin Galactic in a research note on Monday, June 30th. They set a "neutral" rating and a $3.00 target price for the company. Wall Street Zen raised shares of Virgin Galactic from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Virgin Galactic has a consensus rating of "Hold" and a consensus price target of $4.75.

Virgin Galactic Trading Up 4.0%

Shares of NYSE:SPCE traded up $0.16 during trading on Wednesday, reaching $4.13. 5,544,821 shares of the company traded hands, compared to its average volume of 4,587,647. The company's 50 day moving average is $3.37 and its two-hundred day moving average is $3.23. The company has a debt-to-equity ratio of 1.60, a quick ratio of 3.38 and a current ratio of 3.38. Virgin Galactic has a 52 week low of $2.18 and a 52 week high of $8.19.

Virgin Galactic (NYSE:SPCE - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($1.47) earnings per share for the quarter, beating 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%. As a group, equities research analysts predict that Virgin Galactic will post -16.05 EPS for the current year.

Hedge Funds Weigh In On Virgin Galactic

A number of hedge funds have recently made changes to their positions in SPCE. Rhumbline Advisers raised its position in shares of Virgin Galactic by 21.9% during the first quarter. Rhumbline Advisers now owns 40,487 shares of the company's stock worth $123,000 after acquiring an additional 7,282 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Virgin Galactic in the first quarter valued at $32,000. Wealthquest Corp acquired a new position in Virgin Galactic in the first quarter valued at $1,340,000. Bank of New York Mellon Corp boosted its position in Virgin Galactic by 14.5% during the first quarter. Bank of New York Mellon Corp now owns 69,496 shares of the company's stock valued at $211,000 after acquiring an additional 8,808 shares during the last quarter. Finally, Penserra Capital Management LLC grew its holdings in Virgin Galactic by 48.4% during the 1st quarter. Penserra Capital Management LLC now owns 134,438 shares of the company's stock worth $407,000 after acquiring an additional 43,861 shares during the period. 46.62% of the stock is currently 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.

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