Virgin Galactic (NYSE:SPCE) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Virgin Galactic (NYSE:SPCE) released its quarterly earnings data on Tuesday. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.01, Briefing.com reports. Virgin Galactic had a negative net margin of 7,387.31% and a negative return on equity of 102.01%. The business had revenue of $1.99 million for the quarter, compared to the consensus estimate of $2.05 million. During the same period in the prior year, the firm earned ($0.57) EPS. The business’s revenue for the quarter was up 406.4% on a year-over-year basis.

Virgin Galactic Price Performance

Shares of NYSE SPCE traded down $0.06 during trading on Friday, hitting $0.97. 10,481,642 shares of the company were exchanged, compared to its average volume of 12,800,895. The company has a market cap of $389.16 million, a price-to-earnings ratio of -0.79 and a beta of 1.71. Virgin Galactic has a 1 year low of $0.70 and a 1 year high of $6.17. The firm’s fifty day moving average price is $1.25 and its 200 day moving average price is $1.75. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.12 and a quick ratio of 5.03.

Wall Street Analysts Forecast Growth

SPCE has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Virgin Galactic from $1.00 to $0.75 and set an “underweight” rating on the stock in a report on Thursday. Susquehanna lowered their target price on shares of Virgin Galactic from $2.00 to $1.10 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Truist Financial decreased their price target on shares of Virgin Galactic from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $2.07.

About Virgin Galactic

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.