Virgin Galactic Holdings Inc. (NYSE:SPCE) shares, rose in value on Friday, June 11, with the stock price down by -3.50% to the previous day’s close as strong demand from buyers drove the stock to $34.17.
Actively observing the price movement in the recent trading, the stock is buoying the session at $35.41, falling within a range of $34.92 and $37.88. Referring to stock’s 52-week performance, its high was $62.80, and the low was $14.21. On the whole, SPCE has fluctuated by 95.42% over the past month.
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 -$0.33, which is expected to increase to -$0.16 for fiscal year -$1.41 and then to about -$0.73 by fiscal year 2022. Data indicates that the EPS growth is expected to be -12.80% in 2022, while the next year’s EPS growth is forecast to be 48.20%.
According to the average forecast, sales growth in current quarter could jump down -56.80%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $3.03 million, representing an increase of 1,173.10% 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 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Buy.
10 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 4 analyst(s), 6 recommend it as a Buy and 0 called the SPCE stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Overweight.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of SPCE currently trading nearly 28.78% and 37.44% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 64.76, while the 7-day volatility ratio is showing 9.64% which for the 30-day chart, stands at 10.93%. Furthermore, Virgin Galactic Holdings Inc. (SPCE)’s beta value is 0.37, and its average true range (ATR) is 2.90. The company’s stock has been forecasted to trade at an average price of $30.00 over the course of the next 52 weeks, with a low of $18.00 and a high of $50.00. Based on these price targets, the low is 47.32% off current price, whereas the price has to move -46.33% to reach the yearly target high. Additionally, analysts’ median price of $26.00 is likely to be welcomed by investors because it represents an increase of 23.91% from the current levels.
Data on historical trading for Virgin Galactic Holdings Inc. (NYSE:SPCE) indicates that the trading volumes over the past 10 days have averaged 27.47 million and over the past 3 months, they’ve averaged 19.66 million. According to company’s latest data on outstanding shares, there are 234.19 million shares outstanding.
Nearly 0.70% of Virgin Galactic Holdings Inc.’s shares belong to company insiders and institutional investors own 25.90% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 45.92 million shares as on May 27, 2021, resulting in a short ratio of 1.57. According to the data, the short interest in Virgin Galactic Holdings Inc. (SPCE) stood at 19.08% of shares outstanding as of May 27, 2021; the number of short shares registered in Apr 29, 2021 reached 33.57 million. The stock has risen by 49.22% 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.