Virgin Galactic Holdings Inc (NYSE:SPCE) shares, rose in value, with the stock price down by -2.33% to the previous day’s close as strong demand from buyers drove the stock to $1.26.
Actively observing the price movement in the last trading, the stock closed the session at $1.29. The value of beta (5-year monthly) was 1.74. Referring to stock’s 52-week performance, its high was $6.17, and the low was $1.25. On the whole, SPCE has fluctuated by -21.25% over the past month.
With the market capitalization of Virgin Galactic Holdings Inc currently standing at about $504.05 million, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.29, which is expected to increase to -$0.21 for fiscal year -$0.98 and then to about -$0.74 by fiscal year 2025. Data indicates that the EPS growth is expected to be 34.20% in 2025, while the next year’s EPS growth is forecast to be 24.50%.
Analysts have estimated the company’s revenue for the quarter at $1.85 million, with a low estimate of $1.1 million and a high estimate of $2.53 million. According to the average forecast, sales growth in current quarter could jump up 59.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $5.22 million, representing a decrease of -23.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that SPCE’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of SPCE currently trading nearly -16.86% and -25.29% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 31.43, while the 7-day volatility ratio is showing 6.25% which for the 30-day chart, stands at 6.64%. Furthermore, Virgin Galactic Holdings Inc (SPCE)’s beta value is 1.61, and its average true range (ATR) is 0.10.
A comparison of Virgin Galactic Holdings Inc (SPCE) with its peers suggests the former has fared considerably weaker in the market. SPCE showed an intraday change of -2.33% in last session, and over the past year, it shrunk by -67.53%%.
Data on historical trading for Virgin Galactic Holdings Inc (NYSE:SPCE) indicates that the trading volumes over the past 10 days have averaged 8.7 million and over the past 3 months, they’ve averaged 9.11 million. According to company’s latest data on outstanding shares, there are 399.91 million shares outstanding.
Nearly 8.84% of Virgin Galactic Holdings Inc’s shares belong to company insiders and institutional investors own 39.00% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 84.71 million shares as on Mar 15, 2024, resulting in a short ratio of 8.54. According to the data, the short interest in Virgin Galactic Holdings Inc (SPCE) stood at 21.18% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 82.12 million. The stock has fallen by -48.57% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SPCE stock heading into the next quarter.
