In the latest trading session, 2.1 million Virgin Galactic Holdings Inc. (NYSE:SPCE) shares changed hands as the company’s beta touched 1.20. With the company’s most recent per share price at $1.99 changed hands at -$0.06 or -3.17% at last look, the market valuation stands at $707.43M. SPCE’s current price is a discount, trading about -232.16% off its 52-week high of $6.61. The share price had its 52-week low at $1.86, which suggests the last value was 6.53% up since then. When we look at Virgin Galactic Holdings Inc.’s average trading volume, we note the 10-day average is 19.33 million shares, with the 3-month average coming to 25.20 million.
Analysts gave the Virgin Galactic Holdings Inc. (SPCE) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.20. If we narrow down to specifics, the data shows that 1 out of 12 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 6 recommended SPCE as a Hold, 2 felt it is a Buy and 3 rated the stock as Underweight. Virgin Galactic Holdings Inc.’s EPS for the current quarter is expected to be -$0.42.
Virgin Galactic Holdings Inc. (NYSE:SPCE) trade information
Instantly SPCE was in red as seen in intraday trades today. With action -3.64%, the performance over the past five days has been red. The drop to weekly highs of 2.12 on Friday, 09/15/23 subtracted -3.17% to the stock’s daily price. The company’s shares are showing year-to-date downside of -42.96%, with the 5-day performance at -3.64% in the red. However, in the 30-day time frame, Virgin Galactic Holdings Inc. (NYSE:SPCE) is -27.29% down. Looking at the short shares, we see there were 63.29 million shares sold at short interest cover period of 3.99 days.
The consensus price target for the stock as assigned by Wall Street analysts is $4.39, meaning bulls need an upside of 54.67% from its recent market value. According to analyst projections, SPCE’s forecast low is $2.50 with $8.00 as the target high. To hit the forecast high, the stock’s price needs a -302.01% plunge from its current level, while the stock would need to soar -25.63% for it to hit the projected low.
Virgin Galactic Holdings Inc. (SPCE) estimates and forecasts
Data shows that the Virgin Galactic Holdings Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -52.28% over the past 6 months, a 1.59% in annual growth rate that is considerably lower than the industry average of 8.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Virgin Galactic Holdings Inc. will rise 23.60%, while the growth in revenue is estimated to hit 23.60% for the next quarter. Year-over-year growth is forecast to reach 112.80% up from the last financial year.
Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $1.12 million. 9 analysts are of the opinion that Virgin Galactic Holdings Inc.’s revenue for the quarter ending Dec 2023 will be $1.56 million. The company’s revenue for the corresponding quarters a year ago was $767k and $869k respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 46.00%. The estimates for the next quarter sales put growth at 79.50%.
The 2023 estimates are for Virgin Galactic Holdings Inc. earnings to decrease by -33.00%, but the outlook for the next 5-year period is at 19.40% per year.
Virgin Galactic Holdings Inc. is expected to release its next quarterly earnings report between November 01 and November 06.
Virgin Galactic Holdings Inc. (NYSE:SPCE)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 18.10% of Virgin Galactic Holdings Inc. shares while 39.62% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 48.37%. There are 39.62% institutions holding the Virgin Galactic Holdings Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 6.36% of the shares, roughly 23.34 million SPCE shares worth $45.98 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 5.87% or 21.55 million shares worth $42.46 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jul 30, 2023 were SPDR (R) Ser Tr-SPDR S&P Aerospace & Defense ETF and Vanguard Total Stock Market Index Fund. With 16.06 million shares estimated at $31.65 million under it, the former controlled 4.38% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.18% of the shares, roughly 8.01 million shares worth around $15.78 million.