Virgin Galactic (NYSE:SPCE) Releases Earnings Results, Beats Estimates By $0.01 EPS

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

Virgin Galactic Trading Down 0.5 %

Shares of NYSE:SPCE traded down $0.01 during trading hours on Wednesday, hitting $1.01. 20,697,944 shares of the company’s stock traded hands, compared to its average volume of 12,764,672. Virgin Galactic has a 1 year low of $0.70 and a 1 year high of $6.17. The business has a fifty day moving average price of $1.28 and a 200-day moving average price of $1.76. The firm has a market capitalization of $402.04 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.

Wall Street Analyst Weigh In

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

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.