Virgin Galactic Now Covered by Analysts at BofA Securities

BofA Securities started coverage on shares of Virgin Galactic (NASDAQ:SPCE) in a research report released on Monday, Briefing.com reports. The brokerage issued a buy rating and a $35.00 price target on the stock.

Several other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Virgin Galactic from a sell rating to a hold rating in a research note on Wednesday, July 8th. UBS Group assumed coverage on Virgin Galactic in a research note on Tuesday, September 8th. They issued a buy rating and a $25.00 price target on the stock. Vertical Research reissued a buy rating and set a $29.00 price objective on shares of Virgin Galactic in a research report on Tuesday, June 30th.

Cowen assumed coverage on shares of Virgin Galactic in a research note on Monday, August 31st. They set an outperform rating and a $22.00 target price for the company. Finally, Susquehanna Bancshares initiated coverage on shares of Virgin Galactic in a research note on Monday. They issued a positive rating and a $20.00 price target on the stock. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $26.75.

SPCE stock opened at $20.51 on Monday. Virgin Galactic has a 1 year low of $6.90 and a 1 year high of $42.49. The business has a 50 day simple moving average of $17.23 and a 200-day simple moving average of $17.21.

Virgin Galactic (NASDAQ:SPCE) last issued its earnings results on Monday, August 3rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.04).
Large investors have recently modified their holdings of the business. American International Group Inc. purchased a new position in shares of Virgin Galactic in the second quarter valued at approximately $25,000. Macquarie Group Ltd. purchased a new stake in Virgin Galactic during the 2nd quarter worth approximately $28,000. IFP Advisors Inc lifted its holdings in Virgin Galactic by 64.0% during the 2nd quarter. IFP Advisors Inc now owns 1,804 shares of the company’s stock worth $28,000 after buying an additional 704 shares in the last quarter. Bainco International Investors purchased a new position in Virgin Galactic in the 1st quarter valued at approximately $30,000. Finally, TRUE Private Wealth Advisors grew its stake in shares of Virgin Galactic by 100.0% in the second quarter. TRUE Private Wealth Advisors now owns 2,000 shares of the company’s stock worth $32,000 after acquiring an additional 1,000 shares in the last quarter.

About Virgin Galactic

Virgin Galactic, LLC provides spaceline services. The company offers suborbital research flights to scientific research community. It also operates a spaceport for astronaut training and flights operations.Virgin Galactic, LLC was founded in 2004 and is based in Mojave, California with additional offices in Las Cruces, New York, London, Pasadena, and Washington, DC Virgin Galactic, LLC operates as a subsidiary of Virgin Group Ltd.

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