Analysts Set Virgin Galactic Holdings, Inc. (NYSE:SPCE) PT at $2.26

Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCEGet Free Report) have earned an average rating of “Reduce” from the six research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $1.85.

SPCE has been the topic of a number of research analyst reports. Truist Financial decreased their target price on Virgin Galactic from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Wednesday, February 28th. Wells Fargo & Company decreased their target price on Virgin Galactic from $1.00 to $0.75 and set an “underweight” rating on the stock in a research note on Thursday, May 9th. Susquehanna decreased their target price on Virgin Galactic from $2.00 to $1.10 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. TD Cowen decreased their target price on Virgin Galactic from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Monday, May 13th. Finally, The Goldman Sachs Group reduced their price objective on Virgin Galactic from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Monday, May 13th.

Check Out Our Latest Report on Virgin Galactic

Virgin Galactic Stock Performance

Shares of SPCE opened at $0.73 on Friday. The stock’s 50-day simple moving average is $0.95 and its 200 day simple moving average is $1.60. The stock has a market capitalization of $300.38 million, a price-to-earnings ratio of -0.58 and a beta of 1.76. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.88 and a current ratio of 4.88. Virgin Galactic has a 52-week low of $0.70 and a 52-week high of $6.17.

Virgin Galactic’s stock is going to reverse split on the morning of Monday, June 17th. The 1-20 reverse split was announced on Wednesday, June 12th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, June 14th.

Virgin Galactic (NYSE:SPCEGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. The business had revenue of $1.99 million for the quarter, compared to analysts’ expectations of $2.05 million. Virgin Galactic had a negative return on equity of 87.99% and a negative net margin of 5,301.61%. The firm’s quarterly revenue was up 406.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.57) EPS. Research analysts forecast that Virgin Galactic will post -0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Virgin Galactic

Institutional investors and hedge funds have recently bought and sold shares of the stock. Axxcess Wealth Management LLC purchased a new stake in Virgin Galactic in the 4th quarter worth approximately $27,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Virgin Galactic in the 4th quarter worth approximately $30,000. Optas LLC purchased a new stake in Virgin Galactic in the 4th quarter worth approximately $31,000. Ballentine Partners LLC purchased a new stake in Virgin Galactic in the 4th quarter worth approximately $32,000. Finally, Capital Square LLC purchased a new position in shares of Virgin Galactic in the 4th quarter valued at approximately $34,000. 46.62% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Virgin Galactic (NYSE:SPCE)

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