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

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has received a consensus rating of “Reduce” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $25.50.

A number of research firms have issued reports on SPCE. Morgan Stanley decreased their price objective on Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating for the company in a report on Tuesday, September 17th. The Goldman Sachs Group decreased their price objective on Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, Susquehanna decreased their price objective on Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, August 8th.

Institutional Trading of Virgin Galactic

Large investors have recently added to or reduced their stakes in the company. Bayesian Capital Management LP bought a new stake in shares of Virgin Galactic during the 1st quarter worth approximately $35,000. Quarry LP bought a new stake in shares of Virgin Galactic during the 3rd quarter worth approximately $49,000. Virtu Financial LLC bought a new stake in shares of Virgin Galactic during the 3rd quarter worth approximately $70,000. Franklin Resources Inc. bought a new stake in shares of Virgin Galactic during the 3rd quarter worth approximately $80,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Virgin Galactic during the 2nd quarter worth approximately $98,000. Institutional investors own 46.62% of the company’s stock.

Virgin Galactic Price Performance

Shares of Virgin Galactic stock opened at $6.69 on Friday. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.15. The company has a market cap of $193.21 million, a PE ratio of -0.39 and a beta of 1.75. The business has a 50 day moving average of $6.74 and a 200 day moving average of $8.36. Virgin Galactic has a 52 week low of $5.26 and a 52 week high of $54.60.

Virgin Galactic (NYSE:SPCE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($2.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.10) by $1.44. The business had revenue of $0.40 million during the quarter, compared to the consensus estimate of $0.47 million. Virgin Galactic had a negative return on equity of 88.09% and a negative net margin of 3,975.27%. During the same quarter in the prior year, the company earned ($5.60) earnings per share. As a group, equities research analysts forecast that Virgin Galactic will post -16.05 earnings per share for the current 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.