Virgin Galactic Holdings Inc (NYSE:SPCE) does about 9.17M shares in volume on a normal day but saw 9016749 shares change hands in Monday trading. The company now has a market cap of 472.05M USD. Its current market price is $1.18, marking a decrease of -4.84% compared to the previous close of $1.24. The 52 week high reached by this stock is $6.17 whilst the lowest price level in 52 weeks is $1.23.
Virgin Galactic Holdings Inc (SPCE) has a 20-day trading average at $1.4460 and the current price is -80.87% off the 52-week high compared with -4.07% distance from its 52-week low. The 50-day simple moving average of the closing price is $1.6392 and its 200-day simple moving average is $2.3076. If we look at the stock’s price movements over the week, volatility stands at 6.45%, which increases to 6.60% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 28.05 to suggest the stock is oversold.
The consensus objective for the share price is $2.61, suggesting that the stock has a potential upside of 54.79% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on January 10, 2024 when Truist upgraded the stock to “Hold” and issued a price target of between $1 and $3. Morgan Stanley downgraded the stock to “Underweight” from Equal-Weight on November 22, 2023 at a price target of $4-$1.75. Alembic Global Advisors upgraded its price target at $4.75.
Virgin Galactic Holdings Inc (SPCE) stock is down -17.48% over the week and -31.40% over the past month. Its price is -51.84% year-to-date and -63.01% over the past year.
The stock last released its quarterly earnings report for quarter ended 12/30/2023, with the company’s earnings per share (EPS) of -$0.26 above consensus estimates by $0.04. SPCE’s earnings per share are forecast to grow by 34.20% this year and 24.50% over next year. Expected sales for next quarter are $3.82 million, which analysts say will come at $5.22 million for the current fiscal year and next year at $3.3 million. In addition, estimates put the company’s current quarterly revenue at an average of $1.85 million.
To reach the target analysts have set, the stock logically needs to grow 54.79 percent from here.
Outstanding shares total 399.91M with insiders holding 8.41% of the shares and institutional holders owning 39.26% of the company’s common stock. The company has a return on investment of -50.63% and return on equity of -101.93%. The beta has a value of 1.62. Price to book ratio is 0.93 and price to sales ratio is 69.42.
