Analysts Set Virgin Galactic Holdings, Inc. (NYSE:SPCE) Target Price at $3.33

Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) have received a consensus rating of “Reduce” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $3.3250.

SPCE has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Virgin Galactic in a research report on Monday, April 20th. Wall Street Zen raised shares of Virgin Galactic from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Jefferies Financial Group reduced their price objective 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, April 2nd. Finally, Susquehanna upped their target price on shares of Virgin Galactic from $2.50 to $3.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th.

Virgin Galactic Stock Up 7.5%

Shares of Virgin Galactic stock opened at $3.78 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.91. The company’s fifty day simple moving average is $2.73 and its two-hundred day simple moving average is $2.98. The company has a market cap of $380.07 million, a P/E ratio of -0.87 and a beta of 2.18. Virgin Galactic has a 12-month low of $2.13 and a 12-month high of $5.23.

Virgin Galactic (NYSE:SPCE) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.05. The business had revenue of $0.23 million for the quarter, compared to the consensus estimate of $0.20 million. Virgin Galactic had a negative net margin of 19,781.30% and a negative return on equity of 103.89%. Research analysts anticipate that Virgin Galactic will post -2.59 EPS for the current year.

Insider Buying and Selling at Virgin Galactic

In other Virgin Galactic news, Director Diana S. Strandberg bought 20,000 shares of Virgin Galactic stock in a transaction dated Tuesday, May 19th. The shares were purchased at an average cost of $2.49 per share, with a total value of $49,800.00. Following the transaction, the director directly owned 70,930 shares of the company’s stock, valued at $176,615.70. This represents a 39.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by corporate insiders.

Institutional Trading of Virgin Galactic

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Virgin Galactic by 26.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,342,026 shares of the company’s stock worth $9,040,000 after buying an additional 496,373 shares during the period. Geode Capital Management LLC grew its position in shares of Virgin Galactic by 22.5% in the 4th quarter. Geode Capital Management LLC now owns 727,021 shares of the company’s stock worth $2,335,000 after buying an additional 133,438 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Virgin Galactic by 149.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 573,296 shares of the company’s stock worth $1,840,000 after buying an additional 343,444 shares during the period. Millennium Management LLC grew its position in shares of Virgin Galactic by 118.9% in the 4th quarter. Millennium Management LLC now owns 479,789 shares of the company’s stock worth $1,540,000 after buying an additional 260,594 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Virgin Galactic by 40.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 406,715 shares of the company’s stock worth $1,306,000 after buying an additional 117,136 shares during the period. 46.62% of the stock is owned by hedge funds and other institutional investors.

About Virgin Galactic

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.