Virgin Galactic (NYSE:SPCE) Issues Earnings Results

Virgin Galactic (NYSE:SPCE) announced its quarterly earnings data on Tuesday. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01, Briefing.com reports. The company had revenue of $1.99 million for the quarter, compared to analyst estimates of $2.05 million. Virgin Galactic had a negative return on equity of 102.01% and a negative net margin of 7,387.31%. The firm’s revenue for the quarter was up 406.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.57) EPS.

Virgin Galactic Stock Down 1.0 %

Shares of Virgin Galactic stock traded down $0.01 on Wednesday, reaching $1.00. 20,547,251 shares of the company were exchanged, compared to its average volume of 12,756,476. Virgin Galactic has a 1-year low of $0.70 and a 1-year high of $6.17. The company has a market cap of $400.20 million, a P/E ratio of -0.58 and a beta of 1.71. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.12 and a quick ratio of 5.03. The stock’s 50 day moving average price is $1.28 and its 200-day moving average price is $1.76.

Analyst Ratings Changes

SPCE has been the topic of a number of research reports. Truist Financial decreased their price objective on Virgin Galactic from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Wednesday, February 28th. Wells Fargo & Company decreased their price objective on Virgin Galactic from $1.75 to $1.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Finally, Susquehanna decreased their price objective on Virgin Galactic from $2.00 to $1.10 and set a “neutral” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.12.

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.