In the last trading session, 7.31 million Virgin Galactic Holdings Inc (NYSE:SPCE) shares changed hands as the company’s beta touched 1.59. With the company’s per share price at $1.38 changed hands at -$0.05 or -3.50% during last session, the market valuation stood at $552.06M. SPCE’s last price was a discount, traded about -347.1% off its 52-week high of $6.17. The share price had its 52-week low at $1.37, which suggests the last value was 0.72% up since then. When we look at Virgin Galactic Holdings Inc’s average trading volume, we note the 10-day average is 12.51 million shares, with the 3-month average coming to 9.39 million.
Virgin Galactic Holdings Inc (NYSE:SPCE) trade information
Instantly SPCE was in red as seen at the end of in last trading. With action -16.87%, the performance over the past five days has been red. The drop to weekly highs of 1.6900 subtracted -3.50% to the stock’s daily price. The company’s shares are showing year-to-date downside of -43.67%, with the 5-day performance at -16.87% in the red. However, in the 30-day time frame, Virgin Galactic Holdings Inc (NYSE:SPCE) is -17.37% down. Looking at the short shares, we see there were 84.42 million shares sold at short interest cover period of 9.8 days.
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 -23.76% over the past 6 months, a 35.14% in annual growth rate that is considerably higher than the industry average of 13.20%. 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 49.10%, while the growth in revenue is estimated to hit 43.50% for the next quarter. Year-over-year growth is forecast to reach -23.20% down 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 $1.85 million. 7 analysts are of the opinion that Virgin Galactic Holdings Inc’s revenue for the quarter ending Jun 2024 will be $3.82 million. The company’s revenue for the corresponding quarters a year ago was $1.16 million and $1.87 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 59.50%. The estimates for the next quarter sales put growth at 104.20%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -15.87%. The 2024 estimates are for Virgin Galactic Holdings Inc earnings to increase by 34.70%, 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 May 07 and May 13.
Virgin Galactic Holdings Inc (NYSE:SPCE)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 8.38% of Virgin Galactic Holdings Inc shares while 39.26% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 42.85%. There are 39.26% institutions holding the Virgin Galactic Holdings Inc stock share, with State Street Corporation the top institutional holder. As of Dec 30, 2023, the company held 10.04% of the shares, roughly 40.18 million SPCE shares worth $55.44 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 8.62% or 34.47 million shares worth $47.57 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Jan 30, 2024 were SPDR (R) Ser Tr-SPDR S&P Aerospace & Defense ETF and Vanguard Total Stock Market Index Fund. With 30.54 million shares estimated at $42.14 million under it, the former controlled 7.63% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.92% of the shares, roughly 11.7 million shares worth around $16.14 million.
