Virgin Galactic Holdings, Inc. (NYSE:SPCE) Given Consensus Rating of “Hold” by Brokerages

Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) have received an average recommendation of “Hold” from the four ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $5.00.

SPCE has been the subject of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Virgin Galactic in a research note on Wednesday. Wall Street Zen upgraded Virgin Galactic from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Susquehanna restated a “neutral” rating and issued a $4.00 target price (up from $3.25) on shares of Virgin Galactic in a research note on Thursday. Finally, The Goldman Sachs Group initiated coverage on Virgin Galactic in a report on Monday, June 30th. They issued a “neutral” rating and a $3.00 price target on the stock.

Hedge Funds Weigh In On Virgin Galactic

Hedge funds have recently added to or reduced their stakes in the company. Catalyst Funds Management Pty Ltd bought a new position in Virgin Galactic in the second quarter valued at about $27,000. Apollon Wealth Management LLC bought a new position in Virgin Galactic in the first quarter valued at about $31,000. Pitcairn Co. bought a new position in Virgin Galactic in the second quarter valued at about $31,000. Wealth Enhancement Advisory Services LLC bought a new position in Virgin Galactic in the first quarter valued at about $32,000. Finally, Cerity Partners LLC bought a new position in Virgin Galactic in the first quarter valued at about $32,000. Institutional investors own 46.62% of the company’s stock.

Virgin Galactic Stock Performance

Shares of NYSE:SPCE opened at $4.07 on Friday. Virgin Galactic has a twelve month low of $2.18 and a twelve month high of $8.19. The firm has a market cap of $234.39 million, a PE ratio of -0.45 and a beta of 2.27. The company has a debt-to-equity ratio of 1.60, a quick ratio of 3.38 and a current ratio of 3.38. The business has a fifty day moving average of $3.39 and a 200-day moving average of $3.24.

Virgin Galactic (NYSE:SPCE) last announced its earnings results on Wednesday, August 6th. The company reported ($1.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.12) by $0.65. Virgin Galactic had a negative return on equity of 98.94% and a negative net margin of 17,828.03%.The company had revenue of $0.41 million during the quarter, compared to analyst estimates of $0.45 million. On average, equities research analysts predict that Virgin Galactic will post -16.05 EPS for the current fiscal year.

About Virgin Galactic

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.