Virgin Galactic Holdings, Inc. (NYSE:SPCE) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) have earned an average recommendation of “Reduce” from the six analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $4.20.

A number of analysts recently issued reports on the company. Susquehanna set a $3.50 price objective on Virgin Galactic in a research report on Thursday, January 15th. Morgan Stanley set a $2.30 target price on shares of Virgin Galactic and gave the stock an “underweight” rating in a research note on Friday, December 12th. Wolfe Research reiterated a “peer perform” rating on shares of Virgin Galactic in a research report on Friday, November 14th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Virgin Galactic in a research note on Wednesday, January 21st.

Institutional Trading of Virgin Galactic

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its position in Virgin Galactic by 61.9% in the third quarter. BNP Paribas Financial Markets now owns 13,608 shares of the company’s stock valued at $53,000 after purchasing an additional 5,205 shares during the period. Bank of America Corp DE boosted its position in shares of Virgin Galactic by 34.1% during the third quarter. Bank of America Corp DE now owns 23,002 shares of the company’s stock worth $89,000 after buying an additional 5,844 shares during the period. American Century Companies Inc. boosted its position in shares of Virgin Galactic by 44.8% during the second quarter. American Century Companies Inc. now owns 19,845 shares of the company’s stock worth $54,000 after buying an additional 6,143 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Virgin Galactic by 76.6% in the second quarter. Russell Investments Group Ltd. now owns 16,773 shares of the company’s stock valued at $46,000 after buying an additional 7,274 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Virgin Galactic by 21.9% in the first quarter. Rhumbline Advisers now owns 40,487 shares of the company’s stock valued at $123,000 after buying an additional 7,282 shares in the last quarter. Institutional investors and hedge funds own 46.62% of the company’s stock.

Virgin Galactic Stock Performance

Shares of Virgin Galactic stock opened at $2.53 on Monday. Virgin Galactic has a 52 week low of $2.18 and a 52 week high of $6.64. The business’s fifty day simple moving average is $2.85 and its 200-day simple moving average is $3.35. The firm has a market cap of $185.02 million, a PE ratio of -0.34 and a beta of 2.22. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 1.87.

About Virgin Galactic

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.