Virgin Galactic (NYSE:SPCE) Price Target Lowered to $3.25 at Susquehanna

Virgin Galactic (NYSE:SPCE) had its price target lowered by investment analysts at Susquehanna from $4.00 to $3.25 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Susquehanna’s target price indicates a potential upside of 1.72% from the company’s current price.

Separately, The Goldman Sachs Group cut their target price on Virgin Galactic from $41.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.85.

Virgin Galactic Stock Up 5.8 %

Shares of NYSE:SPCE opened at $3.20 on Thursday. 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 firm has a market capitalization of $92.26 million, a PE ratio of -0.19 and a beta of 2.16. The firm’s 50-day moving average is $4.63 and its two-hundred day moving average is $5.89. Virgin Galactic has a 1 year low of $2.85 and a 1 year high of $34.80.

Institutional Trading of Virgin Galactic

Hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC increased its position in Virgin Galactic by 97.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,943 shares of the company’s stock worth $47,000 after buying an additional 3,916 shares during the period. Quarry LP acquired a new stake in Virgin Galactic in the 3rd quarter valued at about $49,000. Virtu Financial LLC bought a new position in shares of Virgin Galactic in the third quarter valued at $70,000. Summit Securities Group LLC purchased a new position in Virgin Galactic in the 4th quarter worth about $71,000. Finally, Corebridge Financial Inc. boosted its stake in Virgin Galactic by 28.8% in the 4th quarter. Corebridge Financial Inc. now owns 13,172 shares of the company’s stock worth $77,000 after purchasing an additional 2,942 shares during the period. Institutional investors and hedge funds own 46.62% of the company’s stock.

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.