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

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has been assigned an average recommendation of “Reduce” from the six analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $3.3250.

SPCE has been the topic of several analyst reports. Susquehanna lifted their price target on shares of Virgin Galactic from $2.50 to $3.00 and gave the company a “neutral” rating in a report on Friday, April 10th. Jefferies Financial Group dropped their target price on shares of Virgin Galactic from $8.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Wall Street Zen raised Virgin Galactic from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Virgin Galactic in a research note on Monday, April 20th.

Virgin Galactic Price Performance

SPCE opened at $6.19 on Friday. The stock has a market capitalization of $623.33 million, a P/E ratio of -1.42 and a beta of 2.18. Virgin Galactic has a 52-week low of $2.13 and a 52-week high of $6.61. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.00 and a current ratio of 1.00. The company’s 50-day simple moving average is $2.84 and its two-hundred day simple moving average is $3.01.

Virgin Galactic (NYSE:SPCE) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.05. Virgin Galactic had a negative return on equity of 103.89% and a negative net margin of 19,781.30%.The firm had revenue of $0.23 million for the quarter, compared to the consensus estimate of $0.20 million. As a group, analysts predict that Virgin Galactic will post -2.59 EPS for the current year.

Key Headlines Impacting Virgin Galactic

Here are the key news stories impacting Virgin Galactic this week:

• Positive Sentiment: Virgin Galactic said VSS Unity has returned to the skies for glide flights ahead of the company’s next-generation spaceship flight-test program, reinforcing progress toward restarting operations. VSS Unity Returns to the Skies In Preparation For New Spaceship Flight Test Program
• Positive Sentiment: Investor optimism improved after reports that Virgin Galactic’s proposed settlement of shareholder derivative actions received preliminary court approval, reducing an overhang tied to litigation risk. Virgin Galactic Announces Notice of Settlement of Derivative Actions
• Positive Sentiment: SpaceX’s IPO filing has increased attention on space stocks generally, and some investors are viewing Virgin Galactic as a smaller public pure-play on space tourism that could benefit from rising sector enthusiasm. What SpaceX IPO really means for Virgin Galactic stock
• Positive Sentiment: Retail traders also cheered a reported Blue Origin test explosion as a reminder of Virgin Galactic’s “only space tourism” angle, which may be helping momentum in the shares. SPCE Stock Jumps 12% Pre-Market Today: Retail Pins Hope On The ‘Only Space Tourism’ Bet After Blue Origin Test Explosion
• Neutral Sentiment: Virgin Galactic is also drawing attention for a planned 2027 research mission studying menstruation in microgravity, which adds visibility but is not likely to move the stock much on its own. Virgin Galactic mission to study menstruation in microgravity
• Neutral Sentiment: Analyst-style momentum commentary from Zacks may be supporting trader interest, but it does not appear to be tied to a major new fundamental development. Are You Looking for a Top Momentum Pick? Why Virgin Galactic (SPCE) is a Great Choice

Insider Transactions at Virgin Galactic

In related news, Director Diana S. Strandberg bought 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was bought at an average cost of $2.49 per share, with a total value of $49,800.00. Following the completion of the purchase, the director owned 70,930 shares of the company’s stock, valued at approximately $176,615.70. The trade was a 39.27% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Virgin Galactic

Several institutional investors have recently added to or reduced their stakes in SPCE. Vanguard Group Inc. increased its position in Virgin Galactic by 26.9% in the third quarter. Vanguard Group Inc. now owns 2,342,026 shares of the company’s stock worth $9,040,000 after purchasing an additional 496,373 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Virgin Galactic by 22.5% during the fourth quarter. Geode Capital Management LLC now owns 727,021 shares of the company’s stock worth $2,335,000 after purchasing an additional 133,438 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Virgin Galactic by 149.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 573,296 shares of the company’s stock valued at $1,840,000 after buying an additional 343,444 shares during the period. Millennium Management LLC boosted its holdings in shares of Virgin Galactic by 118.9% in the fourth quarter. Millennium Management LLC now owns 479,789 shares of the company’s stock valued at $1,540,000 after purchasing an additional 260,594 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Virgin Galactic by 40.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 406,715 shares of the company’s stock worth $1,306,000 after buying an additional 117,136 shares in the last quarter. Hedge funds and other institutional investors own 46.62% of the company’s stock.

Virgin Galactic Company Profile

Virgin Galactic Holdings, Inc (NYSE: SPCE) is a commercial spaceflight company developing and operating spacecraft for private individuals and research customers. The firm’s primary business is suborbital human spaceflight, offering passengers a brief trip to the edge of space aboard its reusable spaceplane. In parallel, the company is building out infrastructure and support services for suborbital payload deployments and microgravity research missions.

The core flight system consists of a carrier aircraft, WhiteKnightTwo, which lifts the spaceplane SpaceShipTwo to high altitude before release.