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

Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) have received an average recommendation of “Reduce” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $4.20.

Several brokerages recently commented on SPCE. Susquehanna set a $3.50 price target on shares of Virgin Galactic in a research note on Thursday, January 15th. Morgan Stanley set a $2.30 price objective on shares of Virgin Galactic and gave the company an “underweight” rating in a research note on Friday, December 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Virgin Galactic in a research report on Wednesday, January 21st.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. AXQ Capital LP acquired a new stake in shares of Virgin Galactic in the second quarter valued at approximately $216,000. ABC Arbitrage SA increased its holdings in shares of Virgin Galactic by 33.3% in the 2nd quarter. ABC Arbitrage SA now owns 73,973 shares of the company’s stock valued at $202,000 after acquiring an additional 18,465 shares during the period. Catalyst Funds Management Pty Ltd acquired a new position in shares of Virgin Galactic in the 2nd quarter valued at $27,000. SBI Securities Co. Ltd. raised its position in Virgin Galactic by 50.8% in the 2nd quarter. SBI Securities Co. Ltd. now owns 23,278 shares of the company’s stock valued at $64,000 after purchasing an additional 7,838 shares during the last quarter. Finally, Pitcairn Co. purchased a new stake in Virgin Galactic in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 46.62% of the company’s stock.

Virgin Galactic Stock Down 2.2%

SPCE stock opened at $2.46 on Monday. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 1.87. Virgin Galactic has a twelve month low of $2.18 and a twelve month high of $6.64. The company’s 50 day moving average is $2.77 and its two-hundred day moving average is $3.33. The stock has a market cap of $179.53 million, a P/E ratio of -0.33 and a beta of 2.22.

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.