Virgin Galactic (NYSE:SPCE) Price Target Lowered to $36.00 at The Goldman Sachs Group

Virgin Galactic (NYSE:SPCE - Get Free Report) had its target price lowered by equities researchers at The Goldman Sachs Group from $41.00 to $36.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock.

Virgin Galactic Trading Up 1.4 %

Shares of SPCE traded up $0.05 during mid-day trading on Monday, hitting $3.41. The company had a trading volume of 512,807 shares, compared to its average volume of 1,768,950. Virgin Galactic has a 1-year low of $3.27 and a 1-year high of $36.60. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.15. The business's 50-day simple moving average is $4.86 and its 200-day simple moving average is $6.00. The stock has a market cap of $98.35 million, a PE ratio of -0.20 and a beta of 2.16.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. PharVision Advisers LLC purchased a new position in shares of Virgin Galactic during the fourth quarter valued at $215,000. Sherbrooke Park Advisers LLC acquired a new stake in Virgin Galactic in the 4th quarter worth $90,000. Millennium Management LLC lifted its position in Virgin Galactic by 62.0% in the fourth 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 valued at $87,000 after purchasing an additional 4,381 shares in the last quarter. Finally, Cresset Asset Management LLC acquired a new stake in shares of Virgin Galactic during the 4th quarter worth about $104,000. 46.62% of the stock is owned by institutional investors and hedge funds.

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.