During the last session, Virgin Galactic Holdings Inc. (NYSE:SPCE)’s traded shares were 15.55 million, with the beta value of the company hitting 1.05. At the end of the trading day, the stock’s price was $4.41, reflecting an intraday loss of -10.55% or -$0.52. The 52-week high for the SPCE share is $8.56, that puts it down -94.1 from that peak though still a striking 32.43% gain since the share price plummeted to a 52-week low of $2.98. The company’s market capitalization is $1.28B, and the average intraday trading volume over the past 10 days was 11.82 million shares, and the average trade volume was 9.14 million shares over the past three months.
Virgin Galactic Holdings Inc. (SPCE) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 3.30. SPCE has a Sell rating from 3 analyst(s) out of 13 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 3 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.52.
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Virgin Galactic Holdings Inc. (NYSE:SPCE) trade information
Virgin Galactic Holdings Inc. (SPCE) registered a -10.55% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -10.55% in intraday trading to $4.41 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -2.00%, and it has moved by 39.56% in 30 days. Based on these gigs, the overall price performance for the year is -32.77%. The short interest in Virgin Galactic Holdings Inc. (NYSE:SPCE) is 53.62 million shares and it means that shorts have 6.13 day(s) to cover.
The consensus price target of analysts on Wall Street is $4.20, which implies a decrease of -5.0% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2.00 and $8.00 respectively. As a result, SPCE is trading at a discount of -81.41% off the target high and 54.65% off the low.
Virgin Galactic Holdings Inc. (SPCE) estimates and forecasts
Statistics show that Virgin Galactic Holdings Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Virgin Galactic Holdings Inc. (SPCE) shares have gone down -12.50% during the last six months, with a year-to-date growth rate less than the industry average at -7.94% against 8.00. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -20.90% this quarter and then jump 12.70% in the quarter after that. In the rating firms’ projections, revenue will increase 399.60% compared to the previous financial year.
Revenue for the current quarter is expected to be $2.49 million as predicted by 9 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to $3.55 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $357k and $767k respectively. In this case, analysts expect current quarter sales to grow by 597.50% and then jump by 362.80% in the coming quarter.
While earnings are projected to return -33.00% in 2023, the next five years will return 19.40% per annum.
Virgin Galactic Holdings Inc. is due to release its next quarterly earnings between August 02 and August 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Virgin Galactic Holdings Inc. (NYSE:SPCE)’s Major holders
Virgin Galactic Holdings Inc. insiders own 18.07% of total outstanding shares while institutional holders control 38.84%, with the float percentage being 47.40%. Blackrock Inc. is the largest shareholder of the company, while 331 institutions own stock in it. As of Mar 30, 2023, the company held over 20.32 million shares (or 7.19% of all shares), a total value of $89.62 million in shares.
The next largest institutional holding, with 20.29 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 7.18% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $89.46 million.
Also, the Mutual Funds coming in first place with the largest holdings of Virgin Galactic Holdings Inc. (SPCE) shares are SPDR (R) Ser Tr-SPDR S&P Aerospace & Defense ETF and Vanguard Total Stock Market Index Fund. Data provided on Mar 30, 2023 indicates that SPDR (R) Ser Tr-SPDR S&P Aerospace & Defense ETF owns about 11.52 million shares. This amounts to just over 4.11 percent of the company’s overall shares, with a $50.82 million market value. The same data shows that the other fund manager holds slightly less at 6.5 million, or about 2.32% of the stock, which is worth about $28.66 million.