Virgin Galactic Holdings, Inc. (NYSE:SPCE) Receives Average Rating of “Hold” from Brokerages

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has been assigned an average rating of “Hold” from the four research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $5.00.

Several research firms have recently issued reports on SPCE. Wall Street Zen upgraded shares of Virgin Galactic from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Virgin Galactic in a research report on Wednesday, October 8th. Finally, Susquehanna restated a “neutral” rating and set a $4.00 price target (up from $3.25) on shares of Virgin Galactic in a research note on Thursday, October 9th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Catalyst Funds Management Pty Ltd acquired a new stake in Virgin Galactic during the second quarter worth $27,000. Apollon Wealth Management LLC bought a new position in shares of Virgin Galactic during the 1st quarter worth about $31,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Virgin Galactic during the 1st quarter valued at about $32,000. Cerity Partners LLC acquired a new stake in shares of Virgin Galactic during the 1st quarter valued at about $32,000. Finally, Gladstone Institutional Advisory LLC bought a new stake in Virgin Galactic in the third quarter valued at about $42,000. 46.62% of the stock is owned by institutional investors.

Virgin Galactic Stock Down 0.1%

SPCE opened at $3.58 on Tuesday. The business has a 50 day moving average of $3.71 and a 200-day moving average of $3.43. The stock has a market capitalization of $205.88 million, a price-to-earnings ratio of -0.40 and a beta of 2.28. The company has a current ratio of 3.38, a quick ratio of 3.38 and a debt-to-equity ratio of 1.60. Virgin Galactic has a 1-year low of $2.18 and a 1-year high of $8.19.

Virgin Galactic (NYSE:SPCE) last announced its earnings results on Wednesday, August 6th. The company reported ($1.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.12) by $0.65. Virgin Galactic had a negative net margin of 17,828.03% and a negative return on equity of 98.94%. The business had revenue of $0.41 million for the quarter, compared to analyst estimates of $0.45 million. As a group, sell-side analysts anticipate that Virgin Galactic will post -16.05 earnings per share for the current year.

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.