Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) have been assigned an average recommendation of “Hold” from the seventeen ratings firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $36.77.
Several analysts recently commented on SPCE shares. Sanford C. Bernstein raised their price objective on Virgin Galactic from $18.00 to $27.00 and gave the stock a “market perform” rating in a research note on Monday, May 24th. downgraded Virgin Galactic from an “overweight” rating to a “neutral” rating in a research note on Monday, June 28th. Susquehanna reaffirmed a “hold” rating and set a $45.00 price objective on shares of Virgin Galactic in a research note on Friday, July 9th. Alembic Global Advisors downgraded Virgin Galactic from an “overweight” rating to a “neutral” rating in a research note on Monday, June 28th. Finally, The Goldman Sachs Group raised their price objective on Virgin Galactic from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, June 25th.
In related news, Director Craig S. Kreeger sold 10,000 shares of Virgin Galactic stock in a transaction dated Tuesday, August 17th. The stock was sold at an average price of $25.15, for a total transaction of $251,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Virgin Investments Ltd sold 3,750,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 10th. The stock was sold at an average price of $32.26, for a total transaction of $120,975,000.00. The disclosure for this sale can be found here. Insiders have sold 6,785,000 shares of company stock valued at $200,118,500 in the last quarter. 7.30% of the stock is currently owned by corporate insiders.
SPCE traded down $0.16 during mid-day trading on Friday, reaching $23.84. The stock had a trading volume of 278,052 shares, compared to its average volume of 25,675,873. The stock has a market capitalization of $6.13 billion, a P/E ratio of -15.09 and a beta of 0.34. The firm’s fifty day simple moving average is $29.84 and its two-hundred day simple moving average is $29.91. Virgin Galactic has a 52 week low of $14.27 and a 52 week high of $62.80.
Virgin Galactic (NYSE:SPCE) last posted its quarterly earnings results on Thursday, August 5th. The company reported ($0.39) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.09). On average, equities analysts expect that Virgin Galactic will post -1.46 earnings per share for the current fiscal year.
About Virgin Galactic
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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