Virgin Galactic (NYSE:SPCE) Given New $32.00 Price Target at Susquehanna Bancshares

Virgin Galactic (NYSE:SPCE) had its price target lifted by Susquehanna Bancshares from $20.00 to $32.00 in a research report released on Tuesday morning, Stock Target Advisor reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts also recently commented on SPCE. Susquehanna lifted their price target on shares of Virgin Galactic from $20.00 to $32.00 and gave the stock a neutral rating in a report on Tuesday. Truist assumed coverage on shares of Virgin Galactic in a research report on Wednesday, March 17th. They set a buy rating and a $50.00 price target on the stock. Bank of America boosted their target price on shares of Virgin Galactic from $35.00 to $50.00 and gave the stock a buy rating in a research report on Tuesday, March 9th. UBS Group reduced their target price on shares of Virgin Galactic from $52.00 to $40.00 and set a neutral rating on the stock in a research report on Friday, February 26th. They noted that the move was a valuation call. Finally, Morgan Stanley lowered shares of Virgin Galactic from an overweight rating to an equal weight rating and lifted their price target for the stock from $24.00 to $30.00 in a research note on Monday, February 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $35.46.

Shares of NYSE:SPCE opened at $18.12 on Tuesday. The stock has a market cap of $4.29 billion, a P/E ratio of -13.83 and a beta of 0.80. The firm has a fifty day moving average price of $25.47 and a 200 day moving average price of $30.21. Virgin Galactic has a 1-year low of $14.21 and a 1-year high of $62.80.

Virgin Galactic (NYSE:SPCE) last released its earnings results on Monday, May 10th. The company reported ($0.55) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.24). During the same period in the prior year, the business posted ($1.86) EPS. Analysts anticipate that Virgin Galactic will post -1.26 earnings per share for the current fiscal year.

In other Virgin Galactic news, major shareholder Virgin Investments Ltd sold 1,900,000 shares of the company’s stock in a transaction that occurred on Monday, April 12th. The stock was sold at an average price of $26.98, for a total transaction of $51,262,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Chamath Palihapitiya sold 3,100,000 shares of the stock in a transaction that occurred on Tuesday, March 2nd. The shares were sold at an average price of $35.28, for a total value of $109,368,000.00. Following the completion of the sale, the director now directly owns 4,910,292 shares of the company’s stock, valued at $173,235,101.76. The disclosure for this sale can be found here. Insiders sold 6,484,000 shares of company stock worth $200,490,240 in the last 90 days. 14.30% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of SPCE. SOA Wealth Advisors LLC. acquired a new position in shares of Virgin Galactic in the fourth quarter valued at $31,000. Nisa Investment Advisors LLC bought a new position in Virgin Galactic in the first quarter valued at about $25,000. Joseph P. Lucia & Associates LLC boosted its holdings in Virgin Galactic by 125.0% in the first quarter. Joseph P. Lucia & Associates LLC now owns 900 shares of the company’s stock valued at $28,000 after acquiring an additional 500 shares during the last quarter. Hoover Financial Advisors Inc. bought a new position in Virgin Galactic in the fourth quarter valued at about $35,000. Finally, Bedel Financial Consulting Inc. boosted its holdings in Virgin Galactic by 33.2% during the fourth quarter. Bedel Financial Consulting Inc. now owns 1,054 shares of the company’s stock worth $25,000 after buying an additional 263 shares during the last quarter. 23.46% of the stock is owned by institutional investors.

About Virgin Galactic

Virgin Galactic Holdings, Inc, an integrated aerospace company, develops human spaceflight for private individuals and researchers in the United States. It also manufactures air and space vehicles. The company's spaceship operations include commercial human spaceflight, flying commercial research, and development payloads into space.

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