Virgin Galactic (NYSE:SPCE – Get Rating) issued its earnings results on Thursday. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.07), Briefing.com reports. The firm had revenue of $0.36 million during the quarter, compared to analyst estimates of $0.08 million. Virgin Galactic had a negative net margin of 9,801.09% and a negative return on equity of 38.18%. Virgin Galactic’s quarterly revenue was down 37.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.39) earnings per share.
Virgin Galactic Stock Down 17.5 %
SPCE stock opened at $6.76 on Friday. Virgin Galactic has a one year low of $5.14 and a one year high of $35.62. The company’s 50 day moving average price is $6.85 and its two-hundred day moving average price is $7.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 6.65 and a quick ratio of 6.44.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Virgin Galactic in a research report on Tuesday, June 21st. They issued an “underweight” rating and a $4.00 price target for the company. Canaccord Genuity Group lowered shares of Virgin Galactic from a “buy” rating to a “hold” rating and cut their target price for the stock from $36.00 to $8.00 in a research note on Friday, May 6th. Truist Financial lowered shares of Virgin Galactic from a “hold” rating to a “sell” rating and cut their target price for the stock from $8.00 to $5.00 in a research note on Friday. Finally, Canaccord Genuity Group lowered shares of Virgin Galactic from a “buy” rating to a “hold” rating and cut their target price for the stock from $36.00 to $8.00 in a research note on Friday, May 6th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Virgin Galactic currently has a consensus rating of “Hold” and an average target price of $13.00.
Institutional Inflows and Outflows
Virgin Galactic Company Profile
Virgin Galactic Holdings, Inc focuses on the development, manufacture, and operation of spaceships and related technologies for conducting commercial human spaceflight and flying commercial research and development payloads into space. It is also involved in the ground and flight testing, and post-flight maintenance of its spaceflight system vehicles.
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