Virgin Galactic shares tumbled more than 7% in morning trading.
Morgan Stanley kept an Underweight rating in place on SPACE and price target of $16.
Morgan Stanley said the additional ticket sales continue to prove that there is demand for space tourism, although it warned that it does not change the execution risks facing the company.
The firm said the ability for Virgin Galactic(NYSE:SPCE) to deliver on the backlog depends on delivering reliable operations at scale. It was noted that the company's Eve mothership is still grounded for its 8-month enhancement period and its Delta-class spaceship is still in development.
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