Virgin Galactic Holdings, Inc. (NYSE:SPCE) Receives $3.33 Consensus PT from Analysts

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has been given a consensus rating of “Hold” by the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $3.3250.

Several equities research analysts have commented on SPCE shares. Wall Street Zen upgraded Virgin Galactic from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings cut Virgin Galactic from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 15th. Susquehanna boosted their target price on Virgin Galactic from $2.50 to $3.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. Finally, Jefferies Financial Group upgraded Virgin Galactic to a “strong-buy” rating in a report on Wednesday, June 10th.

Insider Buying and Selling at Virgin Galactic

In related news, Director Diana S. Strandberg bought 20,000 shares of the stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of $2.49 per share, for a total transaction of $49,800.00. Following the acquisition, the director directly owned 70,930 shares in the company, valued at approximately $176,615.70. This trade represents a 39.27% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Virgin Galactic by 26.9% during the 3rd 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 boosted its holdings in shares of Virgin Galactic by 22.5% during the 4th 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 holdings in shares of Virgin Galactic by 149.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 573,296 shares of the company’s stock worth $1,840,000 after purchasing an additional 343,444 shares during the last quarter. Millennium Management LLC lifted its holdings in 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 acquiring an additional 260,594 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Virgin Galactic by 40.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 406,715 shares of the company’s stock valued at $1,306,000 after acquiring an additional 117,136 shares during the last quarter. 46.62% of the stock is currently owned by institutional investors and hedge funds.

Virgin Galactic Price Performance

NYSE:SPCE opened at $2.99 on Wednesday. Virgin Galactic has a 12 month low of $2.13 and a 12 month high of $8.90. The stock has a 50 day moving average of $3.41 and a two-hundred day moving average of $3.08. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.91. The firm has a market cap of $301.03 million, a P/E ratio of -0.69 and a beta of 2.71.

Virgin Galactic (NYSE:SPCE) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.81) EPS for the quarter, topping the consensus estimate 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 company had revenue of $0.23 million during the quarter, compared to analyst estimates of $0.20 million. On average, analysts expect that Virgin Galactic will post -2.59 earnings per share for the current fiscal year.

About Virgin Galactic

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.