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

Virgin Galactic (NYSE:SPCE) had its price target cut by stock analysts at The Goldman Sachs Group from $41.00 to $36.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock.

Virgin Galactic Stock Up 1.9 %

Shares of NYSE:SPCE traded up $0.07 during mid-day trading on Monday, hitting $3.87. 266,793 shares of the company traded hands, compared to its average volume of 1,786,225. The firm has a market cap of $111.80 million, a P/E ratio of -0.23 and a beta of 1.74. Virgin Galactic has a 52-week low of $3.60 and a 52-week high of $36.60. The firm’s 50 day simple moving average is $5.09 and its 200 day simple moving average is $6.08. The company has a debt-to-equity ratio of 1.15, a quick ratio of 4.52 and a current ratio of 4.52.

Institutional Trading of Virgin Galactic

Several institutional investors have recently added to or reduced their stakes in SPCE. Millennium Management LLC grew its position in shares of Virgin Galactic by 62.0% during the 4th quarter. Millennium Management LLC now owns 946,956 shares of the company’s stock valued at $5,568,000 after buying an additional 362,421 shares during the last quarter. Federated Hermes Inc. lifted its position in Virgin Galactic by 1,246.5% in the 4th quarter. Federated Hermes Inc. now owns 833,664 shares of the company’s stock valued at $4,902,000 after purchasing an additional 771,749 shares during the last quarter. Geode Capital Management LLC grew its holdings in Virgin Galactic by 19.1% in the 4th quarter. Geode Capital Management LLC now owns 605,362 shares of the company’s stock worth $3,561,000 after buying an additional 97,274 shares in the last quarter. Northern Trust Corp increased its position in Virgin Galactic by 39.6% in the 4th quarter. Northern Trust Corp now owns 222,753 shares of the company’s stock valued at $1,310,000 after acquiring an additional 63,141 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Virgin Galactic by 18.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 221,882 shares of the company’s stock valued at $1,305,000 after acquiring an additional 34,514 shares in the last quarter. Institutional investors own 46.62% of the company’s stock.

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.