Virgin Galactic (NYSE:SPCE) Price Target Raised to $35.00

Virgin Galactic (NYSE:SPCEFree Report) had its target price boosted by Morgan Stanley from $1.75 to $35.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an underweight rating on the stock.

A number of other brokerages have also commented on SPCE. Truist Financial cut their price target on Virgin Galactic from $60.00 to $40.00 and set a hold rating on the stock in a research note on Wednesday, February 28th. Susquehanna decreased their price target on shares of Virgin Galactic from $40.00 to $22.00 and set a neutral rating for the company in a research report on Wednesday, May 8th. Wells Fargo & Company reduced their price objective on shares of Virgin Galactic from $20.00 to $15.00 and set an underweight rating on the stock in a research note on Thursday, May 9th. TD Cowen lowered their target price on Virgin Galactic from $50.00 to $40.00 and set a buy rating for the company in a research report on Monday, May 13th. Finally, The Goldman Sachs Group reduced their price target on Virgin Galactic from $80.00 to $70.00 and set a neutral rating on the stock in a research report on Monday, May 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $37.00.

Read Our Latest Analysis on Virgin Galactic

Virgin Galactic Trading Up 7.4 %

SPCE opened at $9.52 on Thursday. The company has a market cap of $195.83 million, a P/E ratio of -0.38 and a beta of 1.76. The company has a current ratio of 4.88, a quick ratio of 4.88 and a debt-to-equity ratio of 1.00. The company’s 50 day moving average is $17.35 and its 200-day moving average is $30.46. Virgin Galactic has a 1-year low of $8.55 and a 1-year high of $111.80.

Virgin Galactic (NYSE:SPCEGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported ($5.00) earnings per share for the quarter, beating analysts’ consensus estimates of ($5.20) by $0.20. Virgin Galactic had a negative net margin of 5,301.61% and a negative return on equity of 87.99%. The firm had revenue of $1.99 million for the quarter, compared to analyst estimates of $2.05 million. During the same quarter last year, the business posted ($11.40) earnings per share. The company’s quarterly revenue was up 406.4% on a year-over-year basis. Equities research analysts predict that Virgin Galactic will post -18.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Virgin Galactic

A number of hedge funds have recently added to or reduced their stakes in the business. Axxcess Wealth Management LLC bought a new stake in Virgin Galactic in the fourth quarter valued at $27,000. Vanguard Personalized Indexing Management LLC acquired a new position in Virgin Galactic during the 4th quarter worth approximately $30,000. Optas LLC bought a new position in Virgin Galactic in the fourth quarter worth approximately $31,000. Ballentine Partners LLC acquired a new stake in Virgin Galactic in the fourth quarter valued at approximately $32,000. Finally, Capital Square LLC bought a new stake in shares of Virgin Galactic during the fourth quarter valued at approximately $34,000. 46.62% of the stock is currently owned by institutional investors.

Virgin Galactic Company Profile

(Get Free Report)

Virgin Galactic Holdings, Inc, an aerospace and space travel company, focuses on the development, manufacture, and operation of spaceships and related technologies. The company engages in the design and development, manufacturing, ground and flight testing, spaceflight operation, and post-flight maintenance of spaceflight systems for private individuals, researchers, and government agencies.

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Analyst Recommendations for Virgin Galactic (NYSE:SPCE)

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