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

Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) have received a consensus rating of “Reduce” from the six brokerages that are presently covering the firm, MarketBeat.com reports. Two investment 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 target price among brokerages that have issued ratings on the stock in the last year is $25.50.

SPCE has been the topic of several research analyst reports. The Goldman Sachs Group lowered their price target on shares of Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Morgan Stanley dropped their target price on Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 17th.

Virgin Galactic Price Performance

Shares of NYSE:SPCE opened at $6.12 on Tuesday. The company has a market capitalization of $176.72 million, a PE ratio of -0.36 and a beta of 1.75. The company has a debt-to-equity ratio of 1.15, a quick ratio of 4.52 and a current ratio of 4.52. The stock has a fifty day moving average of $6.83 and a 200-day moving average of $7.27. Virgin Galactic has a one year low of $5.26 and a one year high of $54.60.

Virgin Galactic (NYSE:SPCE) last released its earnings results on Wednesday, November 6th. The company reported ($2.66) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.10) by $1.44. Virgin Galactic had a negative return on equity of 88.09% and a negative net margin of 3,975.27%. The company had revenue of $0.40 million during the quarter, compared to analyst estimates of $0.47 million. During the same quarter in the prior year, the company earned ($5.60) earnings per share. As a group, equities analysts anticipate that Virgin Galactic will post -16.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Virgin Galactic

Institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new position in shares of Virgin Galactic in the 3rd quarter valued at $49,000. Virtu Financial LLC acquired a new stake in Virgin Galactic in the third quarter worth $70,000. Franklin Resources Inc. acquired a new position in shares of Virgin Galactic in the 3rd quarter valued at $80,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Virgin Galactic during the 2nd quarter worth $98,000. Finally, XTX Topco Ltd acquired a new position in Virgin Galactic in the second quarter valued at about $145,000. Institutional investors own 46.62% of the company’s stock.

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.