Virgin Galactic Holdings, Inc. (NYSE:SPCE) Receives $4.25 Average PT from Analysts

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has been assigned a consensus recommendation of “Hold” from the four research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $4.8125.

Several research firms have issued reports on SPCE. The Goldman Sachs Group began coverage on Virgin Galactic in a report on Monday, June 30th. They set a “neutral” rating and a $3.00 price target for the company. Wall Street Zen raised Virgin Galactic from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Jefferies Financial Group cut their price target on Virgin Galactic from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, May 16th.

Institutional Trading of Virgin Galactic

Hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. lifted its position in shares of 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 acquiring an additional 1,122,535 shares in the last quarter. Wealthquest Corp purchased a new position in shares of Virgin Galactic in the first quarter valued at about $1,340,000. Millennium Management LLC lifted its position in shares of Virgin Galactic by 62.0% in the fourth quarter. Millennium Management LLC now owns 946,956 shares of the company’s stock valued at $5,568,000 after acquiring an additional 362,421 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Virgin Galactic in the fourth quarter valued at about $715,000. Finally, Caption Management LLC lifted its position in shares of 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 acquiring an additional 107,315 shares in the last quarter. Institutional investors own 46.62% of the company’s stock.

Virgin Galactic Stock Performance

Shares of SPCE opened at $3.09 on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.38 and a quick ratio of 3.38. Virgin Galactic has a one year low of $2.18 and a one year high of $8.19. The firm has a market capitalization of $177.67 million, a P/E ratio of -0.34 and a beta of 2.01. The business has a fifty day moving average of $3.28 and a 200 day moving average of $3.32.

Virgin Galactic (NYSE:SPCE) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($1.47) EPS for the quarter, topping the consensus estimate of ($2.12) by $0.65. Virgin Galactic had a negative return on equity of 98.94% and a negative net margin of 17,828.03%.The company had revenue of $0.41 million during the quarter, compared to analyst estimates of $0.45 million. As a group, sell-side analysts anticipate that Virgin Galactic will post -16.05 EPS for the current year.

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.