Analyzing Virgin Galactic Holdings Inc(NYSE: SPCE) Stock as a Disaster or Opportunity

In the latest trading session, 2.14 million Virgin Galactic Holdings Inc (NYSE:SPCE) shares changed hands as the company’s beta touched 1.63. With the company’s most recent per share price at $1.88 changing hands around $0.09 or 4.99% at last look, the market valuation stands at $751.18M. SPCE’s current price is a discount, trading about -241.49% off its 52-week high of $6.42. The share price had its 52-week low at $1.38, which suggests the last value was 26.6% up since then. When we look at Virgin Galactic Holdings Inc’s average trading volume, we note the 10-day average is 7.86 million shares, with the 3-month average coming to 1.32.

Virgin Galactic Holdings Inc (NYSE:SPCE) trade information

Instantly SPCE is in green as seen in intraday trades today. With action 13.21%, the performance over the past five days has been green. The jump to weekly highs of 1.8900 added 4.99% to the stock’s daily price. The company’s shares are showing year-to-date downside of -23.29%, with the 5-day performance at 13.21% in the green. However, in the 30-day time frame, Virgin Galactic Holdings Inc (NYSE:SPCE) is -13.40% down. Looking at the short shares, we see there were 79.98 million shares sold at short interest cover period of 9.87 days.

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Virgin Galactic Holdings Inc (SPCE) estimates and forecasts

Data shows that the Virgin Galactic Holdings Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -42.00% over the past 6 months, a 16.93% in annual growth rate that is considerably higher than the industry average of 5.70%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Virgin Galactic Holdings Inc will rise 45.50%, while the growth in revenue is estimated to hit 50.90% for the next quarter. Year-over-year growth is forecast to reach 201.00% up from the last financial year.

Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $2.99 million. 4 analysts are of the opinion that Virgin Galactic Holdings Inc’s revenue for the quarter ending Mar 2024 will be $4.82 million. The company’s revenue for the corresponding quarters a year ago was $869k and $1.16 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 244.10%. The estimates for the next quarter sales put growth at 315.50%.

The 2024 estimates are for Virgin Galactic Holdings Inc earnings to increase by 17.15%, but the outlook for the next 5-year period is at 19.40% per year.

SPCE Dividends

Virgin Galactic Holdings Inc is expected to release its next quarterly earnings report between February 26 and March 01.

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

If we look at who the major shareholders are, we find that insiders hold 8.34% of Virgin Galactic Holdings Inc shares while 35.21% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 38.41%. There are 35.21% institutions holding the Virgin Galactic Holdings Inc stock share, with State Street Corporation the top institutional holder. As of Sep 29, 2023, the company held 8.43% of the shares, roughly 33.7 million SPCE shares worth $63.02 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 7.55% or 30.17 million shares worth $56.41 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Nov 29, 2023 were SPDR (R) Ser Tr-SPDR S&P Aerospace & Defense ETF and Vanguard Total Stock Market Index Fund. With 30.09 million shares estimated at $56.27 million under it, the former controlled 7.53% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.61% of the shares, roughly 10.44 million shares worth around $19.53 million.

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