Virgin Galactic (NYSE:SPCE) Receives New Coverage from Analysts at KeyCorp

KeyCorp started coverage on shares of Virgin Galactic (NYSE:SPCE – Get Rating) in a research note issued to investors on Tuesday morning, The Fly reports. The brokerage issued a sector weight rating on the stock.

SPCE has been the topic of a number of other reports. Morgan Stanley assumed coverage on shares of Virgin Galactic in a research note on Tuesday, January 10th. They issued an equal weight rating and a $4.00 price target on the stock. Jefferies Financial Group cut their target price on shares of Virgin Galactic from $14.00 to $11.00 in a research report on Monday, November 7th. Wells Fargo & Company cut their target price on shares of Virgin Galactic from $3.25 to $3.00 and set an underweight rating on the stock in a research report on Monday, November 7th. The Goldman Sachs Group cut their target price on shares of Virgin Galactic from $12.00 to $6.00 and set a neutral rating on the stock in a research report on Wednesday, January 18th. Finally, Wolfe Research assumed coverage on shares of Virgin Galactic in a research report on Monday, October 10th. They set an underperform rating and a $4.00 target price on the stock. Five investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, Virgin Galactic presently has an average rating of Hold and an average target price of $7.00.

Virgin Galactic Price Performance

SPCE stock opened at $5.32 on Tuesday. The company’s 50-day moving average price is $4.49 and its two-hundred day moving average price is $5.36. Virgin Galactic has a 12 month low of $3.24 and a 12 month high of $11.25. The company has a quick ratio of 6.23, a current ratio of 6.37 and a debt-to-equity ratio of 0.68. The firm has a market cap of $1.46 billion, a P/E ratio of -3.22 and a beta of 0.95.

Virgin Galactic (NYSE:SPCE – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.15). Virgin Galactic had a negative net margin of 27,154.61% and a negative return on equity of 59.12%. The company had revenue of $0.77 million during the quarter. On average, analysts anticipate that Virgin Galactic will post -1.88 earnings per share for the current fiscal year.

Institutional Trading of Virgin Galactic

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Virgin Galactic by 3.1% during the third quarter. Vanguard Group Inc. now owns 18,656,987 shares of the company’s stock valued at $87,874,000 after purchasing an additional 558,020 shares during the period. BlackRock Inc. raised its holdings in shares of Virgin Galactic by 6.9% during the third quarter. BlackRock Inc. now owns 17,747,749 shares of the company’s stock valued at $83,591,000 after purchasing an additional 1,142,966 shares during the period. State Street Corp raised its holdings in shares of Virgin Galactic by 11.2% during the third quarter. State Street Corp now owns 13,271,346 shares of the company’s stock valued at $62,508,000 after purchasing an additional 1,340,554 shares during the period. Northern Trust Corp raised its holdings in shares of Virgin Galactic by 149.3% during the second quarter. Northern Trust Corp now owns 2,003,233 shares of the company’s stock valued at $12,060,000 after purchasing an additional 1,199,760 shares during the period. Finally, Credit Suisse AG raised its holdings in shares of Virgin Galactic by 19.1% during the second quarter. Credit Suisse AG now owns 1,856,483 shares of the company’s stock valued at $11,176,000 after purchasing an additional 297,198 shares during the period. Institutional investors own 32.12% of the company’s stock.

Virgin Galactic Company Profile

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Virgin Galactic Holdings, Inc focuses on the development, manufacture, and operation of spaceships and related technologies for conducting commercial human spaceflight and flying commercial research and development payloads into space. It is also involved in the ground and flight testing, and post-flight maintenance of its spaceflight system vehicles.