Virgin Galactic (NYSE:SPCE) Stock Price Up 5.2%

Virgin Galactic Holdings, Inc. (NYSE:SPCE)’s share price traded up 5.2% during mid-day trading on Wednesday . The company traded as high as $6.24 and last traded at $6.23. 865,859 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 1,308,560 shares. The stock had previously closed at $5.92.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SPCE. The Goldman Sachs Group lowered their target price on Virgin Galactic from $61.00 to $53.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Susquehanna dropped their target price on shares of Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley upped their price target on shares of Virgin Galactic from $1.75 to $35.00 and gave the company an “underweight” rating in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Virgin Galactic has an average rating of “Hold” and a consensus price target of $31.50.

Virgin Galactic Stock Up 5.2 %

The stock has a market cap of $177.43 million, a price-to-earnings ratio of -0.25 and a beta of 1.72. The firm’s 50-day moving average is $6.71 and its 200 day moving average is $16.16. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.71 and a quick ratio of 4.71.

Virgin Galactic (NYSE:SPCE) last issued its earnings results on Wednesday, August 7th. The company reported ($4.36) EPS for the quarter, beating analysts’ consensus estimates of ($5.40) by $1.04. Virgin Galactic had a negative net margin of 3,764.43% and a negative return on equity of 83.64%. The business had revenue of $4.22 million for the quarter, compared to the consensus estimate of $3.50 million. During the same quarter last year, the firm posted ($9.20) EPS. Sell-side analysts anticipate that Virgin Galactic Holdings, Inc. will post -18.82 earnings per share for the current fiscal year.

Institutional Trading of Virgin Galactic

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC acquired a new stake in Virgin Galactic during the fourth quarter worth about $30,000. Bayesian Capital Management LP acquired a new position in Virgin Galactic during the 1st quarter valued at about $35,000. Cantor Fitzgerald L. P. bought a new position in Virgin Galactic in the 4th quarter worth about $39,000. Newbridge Financial Services Group Inc. increased its stake in shares of Virgin Galactic by 191.9% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 28,900 shares of the company’s stock valued at $71,000 after purchasing an additional 19,000 shares during the period. Finally, Amalgamated Bank raised its holdings in shares of Virgin Galactic by 19.7% during the fourth quarter. Amalgamated Bank now owns 38,310 shares of the company’s stock valued at $94,000 after buying an additional 6,311 shares during the last quarter. Institutional investors and hedge funds own 46.62% of the company’s stock.

Virgin Galactic Company Profile

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.