In the last trading session, 8.08 million shares of the Virgin Galactic Holdings Inc (NYSE:SPCE) were traded, and its beta was 1.59. Most recently the company’s share price was $1.48, and it changed around $0.02 or 1.37% from the last close, which brings the market valuation of the company to $592.06M. SPCE currently trades at a discount to its 52-week high of $6.17, offering almost -316.89% off that amount. The share price’s 52-week low was $1.33, which indicates that the current value has risen by an impressive 10.14% since then. We note from Virgin Galactic Holdings Inc’s average daily trading volume that its 10-day average is 12.66 million shares, with the 3-month average coming to 9.23 million.
Virgin Galactic Holdings Inc stock received a consensus recommendation rating of Hold, based on a mean score of 3.10. If we narrow it down even further, the data shows that 3 out of 11 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 5 recommended SPCE as a Hold, whereas 1 deemed it a Buy, and 1 rated it as Underweight. Virgin Galactic Holdings Inc is expected to report earnings per share of -$0.29 for the current quarter.
Virgin Galactic Holdings Inc (NYSE:SPCE) trade information
Instantly SPCE has showed a green trend with a performance of 1.37% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -39.59% year-to-date, but still up 3.50% over the last five days. On the other hand, Virgin Galactic Holdings Inc (NYSE:SPCE) is -15.43% down in the 30-day period. We can see from the shorts that 84.71 million shares have been sold at a short interest cover period of 8.54 day(s).
The consensus price target as assigned by Wall Street analysts is $16.75, which translates to bulls needing to increase their stock price by 91.16% from its current value. Analyst projections state that SPCE is forecast to be at a low of $1.75 and a high of $48.
Virgin Galactic Holdings Inc (SPCE) estimates and forecasts
Virgin Galactic Holdings Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -10.30 percent over the past six months and at a 35.14% annual growth rate that is well above the industry average of 14.40%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 49.10% in revenue this quarter, and will report an increase of 43.50% in the next quarter. The year-over-year growth rate is expected to be -23.20%, down from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $1.85 million in revenue for the current quarter. 7 analysts expect Virgin Galactic Holdings Inc to make $3.82 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $1.16 million and $1.87 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 59.50%. Forecasts for the next quarter put sales growth at 104.20%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -15.87%. Virgin Galactic Holdings Inc earnings are expected to increase by 34.70% in 2024, but the outlook is positive 19.40% per year for the next five years.
SPCE Dividends
Virgin Galactic Holdings Inc’s next quarterly earnings report is expected to be released around May 07 and May 13.
Virgin Galactic Holdings Inc (NYSE:SPCE)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 8.41% of Virgin Galactic Holdings Inc shares, and 39.26% of them are in the hands of institutional investors. The stock currently has a share float of 42.87%. Virgin Galactic Holdings Inc stock is held by 333 institutions, with State Street Corporation being the largest institutional investor. By Dec 30, 2023, it held 10.04% of the shares, which is about 40.18 million shares worth $59.46 million.
Vanguard Group Inc, with 8.62% or 34.47 million shares worth $51.02 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.
SPDR (R) Ser Tr-SPDR S&P Aerospace & Defense ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jan 30, 2024. The former held 30.54 million shares worth $45.19 million, making up 7.63% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 11.7 million shares worth around $17.31 million, which represents about 2.92% of the total shares outstanding.
