Brokerages Set Virgin Galactic Holdings, Inc. (NYSE:SPCE) PT at $25.50

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has been assigned a consensus recommendation of “Reduce” from the six analysts that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $25.50.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Franklin Resources Inc. purchased a new stake in Virgin Galactic in the 3rd quarter worth approximately $80,000. Virtu Financial LLC purchased a new stake in shares of Virgin Galactic in the third quarter worth $70,000. Geode Capital Management LLC increased its stake in shares of Virgin Galactic by 21.0% in the third 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 in the last quarter. Zacks Investment Management lifted its stake in shares of Virgin Galactic by 40.3% during the 3rd quarter. Zacks Investment Management now owns 35,439 shares of the company’s stock valued at $216,000 after buying an additional 10,172 shares in the last quarter. Finally, Quarry LP bought a new position in Virgin Galactic in the 3rd quarter worth $49,000. 46.62% of the stock is owned by hedge funds and other institutional investors.

Virgin Galactic Stock Down 6.3 %

SPCE opened at $5.98 on Tuesday. The stock has a market capitalization of $172.70 million, a price-to-earnings ratio of -0.35 and a beta of 1.75. The firm has a 50 day moving average price of $6.75 and a 200-day moving average price of $6.89. Virgin Galactic has a twelve month low of $5.26 and a twelve month high of $50.80. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.15.

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

Virgin Galactic Company Profile

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.