Virgin Galactic (NYSE:SPCE) Stock Price Down 4.6%

Virgin Galactic Holdings, Inc. (NYSE:SPCE) was down 4.6% on Monday . The company traded as low as $1.95 and last traded at $1.96. Approximately 2,976,748 shares traded hands during trading, a decline of 81% from the average daily volume of 15,660,495 shares. The stock had previously closed at $2.05.

Analysts Set New Price Targets

SPCE has been the topic of several research reports. Alembic Global Advisors raised Virgin Galactic from an “underweight” rating to a “neutral” rating and set a $4.75 target price on the stock in a research report on Wednesday, June 14th. Morgan Stanley reaffirmed an “equal weight” rating and set a $4.00 target price on shares of Virgin Galactic in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, Virgin Galactic has an average rating of “Hold” and a consensus price target of $5.21.

Virgin Galactic Stock Down 5.4 %

The company has a debt-to-equity ratio of 0.86, a quick ratio of 5.35 and a current ratio of 5.45. The firm’s fifty day moving average price is $3.15 and its two-hundred day moving average price is $3.76.

Virgin Galactic (NYSE:SPCE) last released its quarterly earnings data on Tuesday, August 1st. The company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.05. Virgin Galactic had a negative net margin of 15,135.24% and a negative return on equity of 121.36%. The company had revenue of $1.87 million during the quarter, compared to analysts’ expectations of $2.52 million. During the same quarter in the previous year, the company earned ($0.43) earnings per share. The firm’s revenue for the quarter was up 424.1% on a year-over-year basis. Analysts expect that Virgin Galactic Holdings, Inc. will post -1.86 earnings per share for the current fiscal year.

Institutional Trading of Virgin Galactic

Institutional investors have recently bought and sold shares of the business. Penserra Capital Management LLC raised its holdings in shares of Virgin Galactic by 24.3% during the fourth quarter. Penserra Capital Management LLC now owns 574,542 shares of the company’s stock valued at $1,999,000 after acquiring an additional 112,309 shares during the last quarter. Wellspring Financial Advisors LLC acquired a new stake in Virgin Galactic during the 1st quarter worth $309,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Virgin Galactic by 5.4% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 416,161 shares of the company’s stock worth $1,685,000 after buying an additional 21,145 shares in the last quarter. Strategic Wealth Investment Group LLC raised its position in shares of Virgin Galactic by 64.0% in the first quarter. Strategic Wealth Investment Group LLC now owns 194,342 shares of the company’s stock valued at $535,000 after buying an additional 75,808 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of Virgin Galactic by 9.0% in the first quarter. Arizona State Retirement System now owns 63,644 shares of the company’s stock valued at $258,000 after buying an additional 5,242 shares during the last quarter. 28.46% of the stock is owned by institutional investors and hedge funds.

About Virgin Galactic

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.