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

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has earned a consensus rating of “Reduce” from the six analysts that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $4.20.

SPCE has been the topic of a number of research reports. Susquehanna set a $3.50 target price on shares of Virgin Galactic in a report on Thursday, January 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Virgin Galactic in a research report on Wednesday, October 8th. Morgan Stanley set a $2.30 price objective on shares of Virgin Galactic and gave the stock an “underweight” rating in a research note on Friday, December 12th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Virgin Galactic in a research note on Friday, November 14th.

Virgin Galactic Stock Performance

NYSE:SPCE opened at $3.18 on Friday. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 1.87. The firm’s fifty day simple moving average is $3.44 and its 200 day simple moving average is $3.52. The stock has a market cap of $232.55 million, a P/E ratio of -0.43 and a beta of 2.01. Virgin Galactic has a twelve month low of $2.18 and a twelve month high of $6.64.

Virgin Galactic (NYSE:SPCE) last released its quarterly earnings results on Thursday, November 13th. The company reported ($1.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.51) by $0.42. The company had revenue of $0.37 million during the quarter, compared to the consensus estimate of $0.32 million. Virgin Galactic had a negative net margin of 17,615.71% and a negative return on equity of 108.00%. As a group, research analysts predict that Virgin Galactic will post -16.05 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPCE. CIBC Private Wealth Group LLC boosted its holdings in Virgin Galactic by 115,335.7% in the third quarter. CIBC Private Wealth Group LLC now owns 16,161 shares of the company’s stock worth $62,000 after acquiring an additional 16,147 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Virgin Galactic in the 3rd quarter worth about $62,000. PharVision Advisers LLC purchased a new position in shares of Virgin Galactic in the 3rd quarter worth about $43,000. Virtus Advisers LLC bought a new position in Virgin Galactic in the 3rd quarter worth about $432,000. Finally, Verition Fund Management LLC purchased a new stake in Virgin Galactic during the 3rd quarter valued at about $52,000. Institutional investors own 46.62% of the company’s stock.

Virgin Galactic Company Profile

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.