Virgin Galactic (NYSE:SPCE – Get Free Report) had its price objective lowered by equities research analysts at Wells Fargo & Company from $1.00 to $0.75 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential downside of 25.37% from the stock’s previous close.
SPCE has been the topic of a number of other research reports. Susquehanna cut their target price on shares of Virgin Galactic from $2.00 to $1.10 and set a “neutral” rating on the stock in a research note on Wednesday. Truist Financial dropped their price objective on shares of Virgin Galactic from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $2.07.
View Our Latest Stock Analysis on Virgin Galactic
Virgin Galactic Trading Up 1.0 %
Virgin Galactic (NYSE:SPCE – Get Free Report) last announced its earnings results on Tuesday, May 7th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. The firm had revenue of $1.99 million for the quarter, compared to analyst estimates of $2.05 million. Virgin Galactic had a negative net margin of 7,387.31% and a negative return on equity of 102.01%. The company’s revenue for the quarter was up 406.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.57) EPS. On average, equities analysts anticipate that Virgin Galactic will post -0.96 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of SPCE. Axxcess Wealth Management LLC purchased a new position in shares of Virgin Galactic during the fourth quarter valued at approximately $27,000. Vanguard Personalized Indexing Management LLC bought a new stake in Virgin Galactic during the fourth quarter valued at approximately $30,000. Optas LLC bought a new stake in Virgin Galactic during the fourth quarter valued at approximately $31,000. Ballentine Partners LLC bought a new stake in Virgin Galactic during the fourth quarter valued at approximately $32,000. Finally, Capital Square LLC bought a new stake in Virgin Galactic during the fourth quarter valued at approximately $34,000. 46.62% of the stock is owned by hedge funds and other 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.
Featured Articles
- Five stocks we like better than Virgin Galactic
- What is an Earnings Surprise?
- Roblox: The Bottom Just Fell Out of the Metaverse
- 3 Fintech Stocks With Good 2021 Prospects
- Airbnb Stock Plummets After Earnings, But is It a Buy?
- Quiet Period Expirations Explained
- Uber’s Earnings Drop Is Investors Opportunity
Receive News & Ratings for Virgin Galactic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virgin Galactic and related companies with MarketBeat.com's FREE daily email newsletter.