The Goldman Sachs Group Begins Coverage on Virgin Galactic (NYSE:SPCE)

The Goldman Sachs Group began coverage on shares of Virgin Galactic (NYSE:SPCE - Get Free Report) in a note issued to investors on Monday, MarketBeat.com reports. The firm set a "neutral" rating and a $3.00 price target on the stock. The Goldman Sachs Group's price target indicates a potential upside of 5.82% from the company's current price.

Several other research analysts have also commented on the company. Jefferies Financial Group lowered their price target on shares of Virgin Galactic from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Susquehanna decreased their target price on shares of Virgin Galactic from $4.00 to $3.25 and set a "neutral" rating on the stock in a report on Thursday, March 13th.

Virgin Galactic Price Performance

SPCE stock traded up $0.01 during mid-day trading on Monday, reaching $2.84. The company's stock had a trading volume of 1,104,620 shares, compared to its average volume of 2,650,524. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 1.55. The company's 50 day moving average is $3.20 and its two-hundred day moving average is $3.92. Virgin Galactic has a fifty-two week low of $2.18 and a fifty-two week high of $8.79.

Virgin Galactic (NYSE:SPCE - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($2.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.23) by ($0.15). Virgin Galactic had a negative net margin of 5,972.70% and a negative return on equity of 97.17%. The company had revenue of $0.46 million during the quarter, compared to analysts' expectations of $0.33 million. On average, sell-side analysts expect 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 modified their holdings of the business. Federated Hermes Inc. lifted its position in Virgin Galactic by 134.7% in the first quarter. Federated Hermes Inc. now owns 1,956,199 shares of the company's stock valued at $5,927,000 after buying an additional 1,122,535 shares during the last quarter. Wealthquest Corp acquired a new position in shares of Virgin Galactic in the 1st quarter worth approximately $1,340,000. Millennium Management LLC boosted its position in shares of Virgin Galactic by 62.0% during the 4th quarter. Millennium Management LLC now owns 946,956 shares of the company's stock worth $5,568,000 after purchasing an additional 362,421 shares during the period. Raymond James Financial Inc. acquired a new stake in Virgin Galactic in the 4th quarter valued at approximately $715,000. Finally, Caption Management LLC raised its position in Virgin Galactic by 112.1% in the first quarter. Caption Management LLC now owns 11,555 shares of the company's stock valued at $35,000 after purchasing an additional 107,315 shares during the period. 46.62% of the stock is currently owned by hedge funds and other 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.