Virgin Galactic (NYSE:SPCE) Given New $3.25 Price Target at Susquehanna

Virgin Galactic (NYSE:SPCE) had its price target cut by Susquehanna from $4.00 to $3.25 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Susquehanna’s target price suggests a potential upside of 1.72% from the stock’s current price.

Separately, The Goldman Sachs Group lowered their price objective on shares of Virgin Galactic from $41.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $19.85.

Virgin Galactic Stock Up 5.8 %

Shares of NYSE:SPCE opened at $3.20 on Thursday. Virgin Galactic has a 12-month low of $2.85 and a 12-month high of $34.80. The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 1.15. The stock’s 50-day moving average price is $4.63 and its 200-day moving average price is $5.89. The stock has a market capitalization of $92.26 million, a P/E ratio of -0.19 and a beta of 2.16.

Institutional Investors Weigh In On Virgin Galactic

Institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in Virgin Galactic by 29.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 187,368 shares of the company’s stock worth $1,143,000 after buying an additional 42,883 shares during the period. FMR LLC grew its stake in shares of Virgin Galactic by 29.7% during the 3rd quarter. FMR LLC now owns 24,749 shares of the company’s stock worth $151,000 after purchasing an additional 5,669 shares during the period. Quarry LP acquired a new position in shares of Virgin Galactic in the third quarter worth about $49,000. Zacks Investment Management boosted its position in Virgin Galactic by 40.3% during the third quarter. Zacks Investment Management now owns 35,439 shares of the company’s stock worth $216,000 after purchasing an additional 10,172 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Virgin Galactic by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 508,088 shares of the company’s stock valued at $3,101,000 after acquiring an additional 88,102 shares during the period. 46.62% of the stock is owned by institutional investors.

About Virgin Galactic

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.