Virgin Galactic (NYSE:SPCE) Stock Rating Upgraded by Jefferies Financial Group

Virgin Galactic (NYSE:SPCEGet Free Report) was upgraded by equities research analysts at Jefferies Financial Group to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

SPCE has been the topic of several other reports. Susquehanna raised their price target on Virgin Galactic from $2.50 to $3.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Wall Street Zen raised Virgin Galactic from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings upgraded Virgin Galactic from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Virgin Galactic presently has an average rating of “Hold” and a consensus target price of $3.33.

Read Our Latest Stock Analysis on Virgin Galactic

Virgin Galactic Price Performance

Virgin Galactic stock opened at $4.69 on Wednesday. The business’s 50-day simple moving average is $3.23 and its 200 day simple moving average is $3.08. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.91. The stock has a market cap of $472.30 million, a price-to-earnings ratio of -1.08 and a beta of 2.71. Virgin Galactic has a 12-month low of $2.13 and a 12-month high of $8.90.

Virgin Galactic (NYSE:SPCEGet Free Report) last released its earnings results on Thursday, May 14th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.05. Virgin Galactic had a negative net margin of 19,781.30% and a negative return on equity of 103.89%. The company had revenue of $0.23 million for the quarter, compared to the consensus estimate of $0.20 million. As a group, research analysts anticipate that Virgin Galactic will post -2.59 earnings per share for the current year.

Insiders Place Their Bets

In other Virgin Galactic news, Director Diana S. Strandberg bought 20,000 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was purchased at an average cost of $2.49 per share, with a total value of $49,800.00. Following the completion of the purchase, the director owned 70,930 shares in the company, valued at approximately $176,615.70. The trade was a 39.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp bought a new position in shares of Virgin Galactic during the fourth quarter worth about $369,000. XTX Topco Ltd bought a new stake in Virgin Galactic in the 2nd quarter valued at approximately $195,000. Cetera Investment Advisers boosted its position in Virgin Galactic by 77.8% during the 2nd quarter. Cetera Investment Advisers now owns 37,406 shares of the company’s stock worth $102,000 after acquiring an additional 16,369 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Virgin Galactic by 61.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,608 shares of the company’s stock worth $53,000 after acquiring an additional 5,205 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of Virgin Galactic during the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 46.62% of the company’s stock.

About Virgin Galactic

(Get Free Report)

Virgin Galactic Holdings, Inc (NYSE: SPCE) is a commercial spaceflight company developing and operating spacecraft for private individuals and research customers. The firm’s primary business is suborbital human spaceflight, offering passengers a brief trip to the edge of space aboard its reusable spaceplane. In parallel, the company is building out infrastructure and support services for suborbital payload deployments and microgravity research missions.

The core flight system consists of a carrier aircraft, WhiteKnightTwo, which lifts the spaceplane SpaceShipTwo to high altitude before release.

Further Reading

Analyst Recommendations for Virgin Galactic (NYSE:SPCE)

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