In the last trading session, 1.29 million shares of the Virgin Galactic Holdings Inc (NYSE:SPCE) were traded, and its beta was 1.73. Most recently the company’s share price was $6.77, and it changed around $0.19 or 2.89% from the last close, which brings the market valuation of the company to $201.13M. SPCE currently trades at a discount to its 52-week high of $54.60, offering almost -706.5% off that amount. The share price’s 52-week low was $5.26, which indicates that the current value has risen by an impressive 22.3% since then. We note from Virgin Galactic Holdings Inc’s average daily trading volume that its 10-day average is 2.69 million shares, with the 3-month average coming to 1.52 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 2 out of 10 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 5 recommended SPCE as a Hold, whereas 2 deemed it a Buy, and 1 rated it as Underweight. Virgin Galactic Holdings Inc is expected to report earnings per share of -2.97 for the current quarter.
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Virgin Galactic Holdings Inc (NYSE:SPCE) trade information
Instantly SPCE has showed a green trend with a performance of 2.89% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 8.19 on recent trading dayincreased the stock’s daily price by 17.34%. The company’s shares are currently down -86.18% year-to-date, but still up 8.84% over the last five days. On the other hand, Virgin Galactic Holdings Inc (NYSE:SPCE) is -4.11% down in the 30-day period. We can see from the shorts that 6.9 million shares have been sold at a short interest cover period of 5.36 day(s).
The consensus price target as assigned by Wall Street analysts is $10, which translates to bulls needing to increase their stock price by 32.3% from its current value. Analyst projections state that SPCE is forecast to be at a low of $3 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 -66.49 percent over the past six months and at a 45.78% annual growth rate that is well above the industry average of 12.40%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 40.39% in revenue this quarter, and will report an increase of 15.00% in the next quarter. The year-over-year growth rate is expected to be 1.77%, up from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of 491.67k in revenue for the current quarter. 2 analysts expect Virgin Galactic Holdings Inc to make 500k in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 2.81M and 1.99M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -82.50%. Forecasts for the next quarter put sales growth at -74.81%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -15.86%. Virgin Galactic Holdings Inc earnings are expected to increase by 49.64% 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 in December.
Virgin Galactic Holdings Inc (NYSE:SPCE)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 5.83% of Virgin Galactic Holdings Inc shares, and 31.38% of them are in the hands of institutional investors. The stock currently has a share float of 33.33%. Virgin Galactic Holdings Inc stock is held by 205.0 institutions, with BREVAN HOWARD CAPITAL MANAGEMENT LP being the largest institutional investor. By 2024-06-30, it held 0.0038% of the shares, which is about 15249.0 shares worth $0.13 million.
IFP ADVISORS, INC, with 0.0001% or 430.0 shares worth $294.0 as of 2024-06-30, holds the second largest percentage of outstanding shares.
