Virgin Galactic (NYSE:SPCE) Shares Up 0.2% – Time to Buy?

Virgin Galactic Holdings, Inc. (NYSE:SPCEGet Free Report)’s share price traded up 0.2% during trading on Wednesday . The stock traded as high as $7.46 and last traded at $7.03. 1,588,110 shares were traded during trading, an increase of 13% from the average session volume of 1,400,292 shares. The stock had previously closed at $7.01.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. The Goldman Sachs Group dropped their price target on shares of Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Morgan Stanley dropped their target price on shares of Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating for the company in a research report on Tuesday, September 17th. Finally, Susquehanna reduced their price target on shares of Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $25.50.

View Our Latest Stock Analysis on Virgin Galactic

Virgin Galactic Trading Up 0.3 %

The business has a 50 day simple moving average of $6.69 and a 200-day simple moving average of $8.84. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.15.

Virgin Galactic (NYSE:SPCEGet Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($2.66) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.10) by $1.44. The firm had revenue of $0.40 million during the quarter, compared to analyst estimates of $0.47 million. Virgin Galactic had a negative net margin of 3,975.27% and a negative return on equity of 88.09%. During the same period in the previous year, the business posted ($5.60) EPS. As a group, analysts predict that Virgin Galactic Holdings, Inc. will post -16.05 EPS for the current year.

Institutional Trading of Virgin Galactic

Several hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in shares of Virgin Galactic in the first quarter worth $268,000. Vanguard Group Inc. lifted its holdings in Virgin Galactic by 0.5% in the first quarter. Vanguard Group Inc. now owns 34,633,452 shares of the company’s stock worth $51,258,000 after purchasing an additional 158,954 shares during the period. Geode Capital Management LLC grew its position in Virgin Galactic by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 508,088 shares of the company’s stock valued at $3,101,000 after buying an additional 88,102 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Virgin Galactic during the 2nd quarter valued at about $492,000. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Virgin Galactic by 908.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 55,163 shares of the company’s stock worth $336,000 after acquiring an additional 49,693 shares during the period. Institutional investors own 46.62% of the company’s stock.

Virgin Galactic Company Profile

(Get Free Report)

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.

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