The Goldman Sachs Group Cuts Virgin Galactic (NYSE:SPCE) Price Target to $36.00

Virgin Galactic (NYSE:SPCE) had its price objective decreased by The Goldman Sachs Group from $41.00 to $36.00 in a report published on Monday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Virgin Galactic Stock Up 2.8 %

Shares of NYSE:SPCE opened at $3.49 on Monday. The stock’s 50-day moving average price is $4.92 and its two-hundred day moving average price is $6.02. The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 1.15. Virgin Galactic has a 12-month low of $3.27 and a 12-month high of $36.60. The firm has a market cap of $100.89 million, a price-to-earnings ratio of -0.20 and a beta of 2.16.

Institutional Investors Weigh In On Virgin Galactic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Virgin Galactic by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 508,088 shares of the company’s stock valued at $3,101,000 after buying an additional 88,102 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Virgin Galactic in the 3rd quarter worth approximately $80,000. FMR LLC lifted its stake in Virgin Galactic by 29.7% during the third quarter. FMR LLC now owns 24,749 shares of the company’s stock valued at $151,000 after purchasing an additional 5,669 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Virgin Galactic by 29.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 187,368 shares of the company’s stock valued at $1,143,000 after purchasing an additional 42,883 shares during the last quarter. Finally, Zacks Investment Management raised its holdings in shares of Virgin Galactic by 40.3% during the third quarter. Zacks Investment Management now owns 35,439 shares of the company’s stock valued at $216,000 after acquiring an additional 10,172 shares during the period. Hedge funds and other institutional investors own 46.62% of the company’s stock.

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.