Virgin Galactic (NYSE:SPCE) Hits New 12-Month Low at $10.41

Virgin Galactic Holdings, Inc. (NYSE:SPCE)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $10.41 and last traded at $10.57, with a volume of 620360 shares traded. The stock had previously closed at $12.37.

A number of brokerages have issued reports on SPCE. Bank of America cut their price target on shares of Virgin Galactic from $25.00 to $20.00 and set an “underperform” rating on the stock in a report on Friday, October 15th. Zacks Investment Research raised shares of Virgin Galactic from a “sell” rating to a “hold” rating in a report on Thursday, January 6th. Canaccord Genuity Group cut their price target on shares of Virgin Galactic from $44.00 to $36.00 and set a “buy” rating on the stock in a report on Friday. UBS Group lowered shares of Virgin Galactic from a “neutral” rating to a “sell” rating and cut their price target for the stock from $26.00 to $15.00 in a report on Monday, October 18th. Finally, Canaccord Genuity Group cut their price target on shares of Virgin Galactic from $44.00 to $36.00 in a report on Friday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Virgin Galactic currently has an average rating of “Hold” and a consensus target price of $32.35.

The firm’s 50 day moving average is $15.23 and its 200 day moving average is $24.26. The firm has a market cap of $2.62 billion, a P/E ratio of -6.46 and a beta of 0.21.

Virgin Galactic (NYSE:SPCE) last posted its quarterly earnings data on Monday, November 8th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The company had revenue of $2.58 million for the quarter, compared to analyst estimates of $1.69 million. During the same quarter in the prior year, the firm earned ($0.34) earnings per share. As a group, equities analysts anticipate that Virgin Galactic Holdings, Inc. will post -1.54 earnings per share for the current fiscal year.

In related news, major shareholder Virgin Investments Ltd sold 15,600,000 shares of the business’s stock in a transaction dated Wednesday, November 10th. The shares were sold at an average price of $19.25, for a total transaction of $300,300,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 7.30% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Ten Capital Wealth Advisors LLC bought a new stake in Virgin Galactic during the second quarter worth about $28,000. US Bancorp DE raised its holdings in Virgin Galactic by 75.0% in the third quarter. US Bancorp DE now owns 1,225 shares of the company’s stock worth $31,000 after buying an additional 525 shares during the last quarter. FinTrust Capital Advisors LLC raised its holdings in Virgin Galactic by 208.3% in the second quarter. FinTrust Capital Advisors LLC now owns 740 shares of the company’s stock worth $34,000 after buying an additional 500 shares during the last quarter. SOA Wealth Advisors LLC. raised its holdings in Virgin Galactic by 275.0% in the third quarter. SOA Wealth Advisors LLC. now owns 1,500 shares of the company’s stock worth $37,000 after buying an additional 1,100 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in Virgin Galactic by 481.6% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,489 shares of the company’s stock worth $38,000 after buying an additional 1,233 shares during the last quarter. 40.25% of the stock is currently owned by institutional investors and hedge funds.

Virgin Galactic Company Profile (NYSE:SPCE)

Virgin Galactic Holdings, Inc, an integrated aerospace company, develops human spaceflight for private individuals and researchers in the United States. It also manufactures air and space vehicles. The company's spaceship operations include commercial human spaceflight, flying commercial research, and development payloads into space.

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