Virgin Galactic Holdings Inc (NYSE: SPCE)’s -7.19% Loss This Week Just Tells Us Something New

During the last session, Virgin Galactic Holdings Inc (NYSE:SPCE)’s traded shares were 8.24 million, with the beta value of the company hitting 1.61. At the end of the trading day, the stock’s price was $1.29, reflecting an intraday loss of -1.53% or -$0.02. The 52-week high for the SPCE share is $6.17, that puts it down -378.29 from that peak though still a striking -1.55% loss since the share price plummeted to a 52-week low of $1.31. The company’s market capitalization is $516.05M, and the average intraday trading volume over the past 10 days was 8.7 million shares, and the average trade volume was 9.12 million shares over the past three months.

Virgin Galactic Holdings Inc (NYSE:SPCE) trade information

Virgin Galactic Holdings Inc (SPCE) registered a -1.53% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.53% in intraday trading to $1.29, hitting a weekly high. The stock’s 5-day price performance is -7.19%, and it has moved by -19.88% in 30 days. Based on these gigs, the overall price performance for the year is -68.15%. The short interest in Virgin Galactic Holdings Inc (NYSE:SPCE) is 84.71 million shares and it means that shorts have 8.54 day(s) to cover.

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Virgin Galactic Holdings Inc (SPCE) estimates and forecasts

Statistics show that Virgin Galactic Holdings Inc has outperformed its competitors in share price, compared to the industry in which it operates. Virgin Galactic Holdings Inc (SPCE) shares have gone down -27.12% during the last six months, with a year-to-date growth rate more than the industry average at 35.14% against 14.30. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 49.10% this quarter and then jump 43.50% in the quarter after that. In the rating firms’ projections, revenue will decrease -23.20% compared to the previous financial year.

Revenue for the current quarter is expected to be $1.85 million as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $3.82 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $1.16 million and $1.87 million respectively. In this case, analysts expect current quarter sales to grow by 59.50% and then jump by 104.20% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -15.87%. While earnings are projected to return 34.70% in 2024, the next five years will return 19.40% per annum.

SPCE Dividends

Virgin Galactic Holdings Inc is due to release its next quarterly earnings between May 07 and May 13. 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 8.41% of total outstanding shares while institutional holders control 39.26%, with the float percentage being 42.87%. Vanguard Group Inc is the largest shareholder of the company, while 333 institutions own stock in it. As of Jun 29, 2023, the company held over 23.34 million shares (or 6.36% of all shares), a total value of $90.57 million in shares.

The next largest institutional holding, with 21.55 million shares, is of Blackrock Inc.’s that is approximately 5.87% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $83.62 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 Aug 30, 2023 indicates that SPDR (R) Ser Tr-SPDR S&P Aerospace & Defense ETF owns about 16.18 million shares. This amounts to just over 4.41 percent of the company’s overall shares, with a $40.78 million market value. The same data shows that the other fund manager holds slightly less at 8.01 million, or about 2.18% of the stock, which is worth about $31.07 million.