The Goldman Sachs Group Has Lowered Expectations for Virgin Galactic (NYSE:SPCE) Stock Price

Virgin Galactic (NYSE:SPCEGet Free Report) had its price objective reduced by research analysts at The Goldman Sachs Group from $41.00 to $36.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock.

Virgin Galactic Stock Down 1.9 %

SPCE opened at $3.39 on Monday. The company has a market capitalization of $97.74 million, a P/E ratio of -0.20 and a beta of 1.74. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.52 and a quick ratio of 4.52. The firm’s fifty day moving average price is $4.98 and its two-hundred day moving average price is $6.04. Virgin Galactic has a fifty-two week low of $3.27 and a fifty-two week high of $36.60.

Institutional Trading of Virgin Galactic

Several large investors have recently added to or reduced their stakes in SPCE. Corebridge Financial Inc. grew its holdings in shares of Virgin Galactic by 28.8% during the fourth quarter. Corebridge Financial Inc. now owns 13,172 shares of the company’s stock worth $77,000 after purchasing an additional 2,942 shares during the last quarter. Ameriprise Financial Inc. increased its position in Virgin Galactic by 25.1% in the fourth quarter. Ameriprise Financial Inc. now owns 18,193 shares of the company’s stock worth $107,000 after purchasing an additional 3,647 shares during the period. Bank of New York Mellon Corp raised its holdings in Virgin Galactic by 6.8% during the 4th quarter. Bank of New York Mellon Corp now owns 60,688 shares of the company’s stock worth $357,000 after purchasing an additional 3,888 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Virgin Galactic by 97.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,943 shares of the company’s stock valued at $47,000 after buying an additional 3,916 shares during the period. Finally, Zacks Investment Management grew its holdings in Virgin Galactic by 11.7% during the 4th quarter. Zacks Investment Management now owns 39,582 shares of the company’s stock worth $233,000 after acquiring an additional 4,143 shares during the period. 46.62% of the stock is owned by institutional investors.

About Virgin Galactic

(Get Free Report)

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.

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Analyst Recommendations for Virgin Galactic (NYSE:SPCE)

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