Virgin Galactic Holdings, Inc. (NYSE:SPCE) Given Average Rating of “Reduce” by Brokerages

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has earned a consensus recommendation of “Reduce” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $4.20.

Several equities research analysts have recently commented on SPCE shares. Morgan Stanley set a $2.30 price objective on Virgin Galactic and gave the stock an “underweight” rating in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Virgin Galactic in a report on Wednesday, January 21st. Susquehanna set a $3.50 price objective on shares of Virgin Galactic in a research note on Thursday, January 15th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Virgin Galactic in a research note on Friday, November 14th.

Hedge Funds Weigh In On Virgin Galactic

A number of hedge funds have recently added to or reduced their stakes in SPCE. Catalyst Funds Management Pty Ltd bought a new stake in shares of Virgin Galactic in the second quarter valued at about $27,000. Pitcairn Co. acquired a new position in shares of Virgin Galactic during the second quarter worth $31,000. Truist Financial Corp purchased a new stake in Virgin Galactic in the second quarter valued at about $41,000. Baader Bank Aktiengesellschaft acquired a new stake in Virgin Galactic in the 3rd quarter worth approximately $42,000. Finally, Gladstone Institutional Advisory LLC purchased a new stake in Virgin Galactic during the 3rd quarter valued at about $42,000. 46.62% of the stock is currently owned by institutional investors.

Virgin Galactic Stock Performance

Shares of NYSE SPCE opened at $2.63 on Thursday. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 1.87. The firm’s 50-day moving average price is $3.19 and its 200-day moving average price is $3.45. Virgin Galactic has a 52-week low of $2.18 and a 52-week high of $6.64. The company has a market cap of $191.96 million, a PE ratio of -0.35 and a beta of 2.21.

Virgin Galactic (NYSE:SPCE) last released its quarterly earnings results on Thursday, November 13th. The company reported ($1.09) earnings per share for the quarter, beating the consensus estimate of ($1.51) by $0.42. Virgin Galactic had a negative return on equity of 108.00% and a negative net margin of 17,615.71%.The firm had revenue of $0.37 million for the quarter, compared to analysts’ expectations of $0.32 million. As a group, analysts anticipate that Virgin Galactic will post -16.05 EPS for the current year.

Virgin Galactic Company Profile

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.