Analysts Set Virgin Galactic Holdings, Inc. (NYSE:SPCE) Price Target at $4.33

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has earned a consensus recommendation of “Reduce” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $4.3250.

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Virgin Galactic in a report on Wednesday, October 8th. Morgan Stanley set a $2.30 price objective on shares of Virgin Galactic and gave the stock an “underweight” rating in a report on Friday, December 12th. Susquehanna reiterated a “neutral” rating and issued a $4.00 target price (up previously from $3.25) on shares of Virgin Galactic in a report on Thursday, October 9th. Finally, Wolfe Research restated a “peer perform” rating on shares of Virgin Galactic in a report on Friday, November 14th.

Virgin Galactic Trading Up 4.6%

NYSE:SPCE opened at $3.29 on Wednesday. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.87 and a quick ratio of 2.87. Virgin Galactic has a one year low of $2.18 and a one year high of $6.74. The company has a market cap of $189.70 million, a PE ratio of -0.44 and a beta of 1.98. The firm has a 50-day moving average of $3.64 and a 200-day moving average of $3.50.

Virgin Galactic (NYSE:SPCE) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($1.09) earnings per share for the quarter, beating the consensus estimate of ($1.51) by $0.42. The business had revenue of $0.37 million for the quarter, compared to analysts’ expectations of $0.32 million. Virgin Galactic had a negative net margin of 17,615.71% and a negative return on equity of 108.00%. As a group, equities research analysts expect that Virgin Galactic will post -16.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Virgin Galactic

Institutional investors have recently modified their holdings of the business. AXQ Capital LP bought a new position in Virgin Galactic in the 2nd quarter valued at $216,000. Invesco Ltd. boosted its holdings in shares of Virgin Galactic by 510.9% in the 1st quarter. Invesco Ltd. now owns 107,641 shares of the company’s stock worth $326,000 after buying an additional 90,021 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Virgin Galactic by 8.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 240,831 shares of the company’s stock valued at $730,000 after buying an additional 18,949 shares during the period. Deutsche Bank AG grew its position in Virgin Galactic by 132.4% during the first quarter. Deutsche Bank AG now owns 18,573 shares of the company’s stock valued at $56,000 after buying an additional 10,580 shares during the period. Finally, ABC Arbitrage SA increased its holdings in Virgin Galactic by 33.3% during the second quarter. ABC Arbitrage SA now owns 73,973 shares of the company’s stock worth $202,000 after buying an additional 18,465 shares during the last quarter. 46.62% of the stock is owned by institutional investors.

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.