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Virgin Galactic Holdings Inc. (SPCE) Investors Will See A Big Return Again

Virgin Galactic Holdings Inc. (NYSE:SPCE) has a beta value of 1.00 and has seen 9.53 million shares traded in the last trading session. The company, currently valued at $1.37B, closed the last trade at $5.31 per share which meant it gained $0.12 on the day or 2.31% during that session. The SPCE stock price is -111.86% off its 52-week high price of $11.25 and 38.98% above the 52-week low of $3.24. If we look at the company’s 10-day average daily trading volume, we find that it stood at 15.2 million shares traded. The 3-month trading volume is 7.10 million shares.

The consensus among analysts is that Virgin Galactic Holdings Inc. (SPCE) is a Hold stock at the moment, with a recommendation rating of 3.40. 3 analysts rate the stock as a Sell, while 0 rate it as Overweight. 5 out of 13 have rated it as a Hold, with 2 advising it as a Buy. 3 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.41.

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Virgin Galactic Holdings Inc. (NYSE:SPCE) trade information

Sporting 2.31% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the SPCE stock price touched $5.31 or saw a rise of 7.17%. Year-to-date, Virgin Galactic Holdings Inc. shares have moved 52.59%, while the 5-day performance has seen it change 2.31%. Over the past 30 days, the shares of Virgin Galactic Holdings Inc. (NYSE:SPCE) have changed 44.69%. Short interest in the company has seen 46.28 million shares shorted with days to cover at 8.35.

Wall Street analysts have a consensus price target for the stock at $5.00, which means that the shares’ value could drop -6.2% from current levels. The projected low price target is $3.00 while the price target rests at a high of $11.00. In that case, then, we find that the current price level is -107.16% off the targeted high while a plunge would see the stock lose 43.5% from current levels.

Virgin Galactic Holdings Inc. (SPCE) estimates and forecasts

Figures show that Virgin Galactic Holdings Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -27.46% over the past 6 months, with this year growth rate of -31.47%, compared to -2.20% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -28.10% and -32.30% for the next quarter. Revenue growth from the last financial year stood is estimated to be -64.80%.

9 analysts offering their estimates for the company have set an average revenue estimate of $130k for the current quarter. 9 have an estimated revenue figure of $500k for the next quarter concluding in Dec 2022. Year-ago sales stood $2.58 million and $141k respectively for this quarter and the next, and analysts expect sales will shrink by -95.00% for the current quarter and 254.60% for the next.

Earnings growth for 2023 is a modest 51.60% while over the next 5 years, the company’s earnings are expected to increase by 19.40%.

SPCE Dividends

Virgin Galactic Holdings Inc. is expected to release its next earnings report between February 20 and February 24 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Virgin Galactic Holdings Inc. (NYSE:SPCE)’s Major holders

Insiders own 19.61% of the company shares, while shares held by institutions stand at 39.08% with a share float percentage of 48.61%. Investors are also buoyed by the number of investors in a company, with Virgin Galactic Holdings Inc. having a total of 344 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 18.1 million shares worth more than $108.96 million. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 7.00% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 16.6 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $99.96 million and represent 6.42% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are SPDR (R) Ser Tr-SPDR S&P Aerospace & Defense ETF and Vanguard Total Stock Market Index Fund. As of Sep 29, 2022, the former fund manager holds about 3.14% shares in the company for having 8.12 million shares of worth $38.22 million while later fund manager owns 5.72 million shares of worth $34.42 million as of Jun 29, 2022, which makes it owner of about 2.21% of company’s outstanding stock.

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