Virgin Galactic (NYSE:SPCE) Trading Up 0.2% – Should You Buy?

Virgin Galactic Holdings, Inc. (NYSE:SPCE) traded up 0.2% on Wednesday . The company traded as high as $7.46 and last traded at $7.03. 1,588,110 shares were traded during trading, an increase of 13% from the average session volume of 1,400,292 shares. The stock had previously closed at $7.01.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Susquehanna cut their price objective on shares of Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group lowered their price objective on shares of Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Finally, Morgan Stanley lowered their price target on Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating on the stock in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $25.50.

Virgin Galactic Trading Up 0.2 %

The company has a debt-to-equity ratio of 1.15, a current ratio of 4.52 and a quick ratio of 4.52. The company has a market cap of $202.85 million, a price-to-earnings ratio of -0.41 and a beta of 1.70. The business has a 50 day simple moving average of $6.68 and a 200 day simple moving average of $8.85.

Virgin Galactic (NYSE:SPCE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($2.66) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.10) by $1.44. The firm had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $0.47 million. Virgin Galactic had a negative net margin of 3,975.27% and a negative return on equity of 88.09%. During the same quarter in the previous year, the company earned ($5.60) earnings per share. As a group, equities analysts forecast that Virgin Galactic Holdings, Inc. will post -16.05 EPS for the current year.

Hedge Funds Weigh In On Virgin Galactic

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new stake in shares of Virgin Galactic during the second quarter valued at approximately $492,000. XTX Topco Ltd bought a new position in Virgin Galactic in the 2nd quarter worth approximately $145,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Virgin Galactic during the 2nd quarter valued at $98,000. Point72 DIFC Ltd purchased a new stake in shares of Virgin Galactic in the second quarter worth about $240,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Virgin Galactic by 908.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 55,163 shares of the company’s stock valued at $336,000 after purchasing an additional 49,693 shares during the period. 46.62% of the stock is currently owned by institutional investors and hedge funds.

Virgin Galactic Company Profile

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.