Virgin Galactic Holdings, Inc. (NYSE:SPCE) Receives $3.45 Average Price Target from Brokerages
by Tristan Rich · The Markets DailyVirgin Galactic Holdings, Inc. (NYSE:SPCE – Get Free Report) has received an average recommendation of “Reduce” from the six brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $3.45.
A number of research firms have issued reports on SPCE. Wall Street Zen lowered shares of Virgin Galactic from a “hold” rating to a “sell” rating in a report on Saturday. Morgan Stanley set a $2.30 price objective on shares of Virgin Galactic and gave the company an “underweight” rating in a research report on Friday, December 12th. Susquehanna set a $3.50 price objective on shares of Virgin Galactic in a research note on Thursday, January 15th. Jefferies Financial Group decreased their target price on shares of Virgin Galactic from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Virgin Galactic in a research note on Wednesday, January 21st.
Get Our Latest Analysis on SPCE
Virgin Galactic Stock Performance
NYSE SPCE opened at $2.43 on Friday. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 1.87. Virgin Galactic has a fifty-two week low of $2.13 and a fifty-two week high of $6.64. The business has a fifty day moving average of $2.56 and a 200-day moving average of $3.25. The stock has a market cap of $177.34 million, a price-to-earnings ratio of -0.41 and a beta of 2.20.
Virgin Galactic (NYSE:SPCE – Get Free Report) last posted its quarterly earnings data on Monday, March 30th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.14. The business had revenue of $0.31 million for the quarter, compared to analyst estimates of $0.41 million. Virgin Galactic had a negative return on equity of 108.78% and a negative net margin of 18,063.93%.During the same quarter last year, the company earned ($2.53) earnings per share. As a group, analysts predict that Virgin Galactic will post -16.05 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Virgin Galactic
Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new position in Virgin Galactic in the fourth quarter valued at $34,000. Virtu Financial LLC acquired a new stake in Virgin Galactic in the 4th quarter worth about $129,000. Invesco Ltd. grew its holdings in Virgin Galactic by 52.9% in the 4th quarter. Invesco Ltd. now owns 406,294 shares of the company’s stock valued at $1,304,000 after buying an additional 140,537 shares during the period. Quadrature Capital Ltd grew its holdings in Virgin Galactic by 130.5% in the 4th quarter. Quadrature Capital Ltd now owns 139,702 shares of the company’s stock valued at $448,000 after buying an additional 79,088 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Virgin Galactic by 118.9% during the 4th quarter. Millennium Management LLC now owns 479,789 shares of the company’s stock valued at $1,540,000 after acquiring an additional 260,594 shares during the last quarter. Hedge funds and other institutional investors own 46.62% of the company’s stock.
Virgin Galactic Company Profile
Virgin Galactic Holdings, Inc (NYSE: SPCE) is a commercial spaceflight company developing and operating spacecraft for private individuals and research customers. The firm’s primary business is suborbital human spaceflight, offering passengers a brief trip to the edge of space aboard its reusable spaceplane. In parallel, the company is building out infrastructure and support services for suborbital payload deployments and microgravity research missions.
The core flight system consists of a carrier aircraft, WhiteKnightTwo, which lifts the spaceplane SpaceShipTwo to high altitude before release.