Virgin Galactic (NYSE:SPCE) Price Target Lowered to $3.25 at Susquehanna

Virgin Galactic (NYSE:SPCE) had its target price reduced by Susquehanna from $4.00 to $3.25 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Susquehanna’s target price would indicate a potential upside of 0.15% from the stock’s previous close.

Separately, The Goldman Sachs Group cut their target price on shares of Virgin Galactic from $41.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.85.

Virgin Galactic Stock Performance

NYSE:SPCE opened at $3.25 on Thursday. Virgin Galactic has a 1 year low of $2.85 and a 1 year high of $34.60. The firm has a 50 day moving average of $4.51 and a 200-day moving average of $5.85. The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $115.29 million, a P/E ratio of -0.19 and a beta of 2.16.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its position in Virgin Galactic by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 508,088 shares of the company’s stock worth $3,101,000 after purchasing an additional 88,102 shares during the last quarter. Rhumbline Advisers raised its position in Virgin Galactic by 19.4% in the 4th quarter. Rhumbline Advisers now owns 33,205 shares of the company’s stock worth $195,000 after purchasing an additional 5,384 shares during the last quarter. Franklin Resources Inc. bought a new position in Virgin Galactic in the 3rd quarter worth approximately $80,000. FMR LLC raised its position in Virgin Galactic by 29.7% in the 3rd quarter. FMR LLC now owns 24,749 shares of the company’s stock worth $151,000 after purchasing an additional 5,669 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Virgin Galactic in the 4th quarter worth approximately $80,000. 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.