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Virgin Galactic Holdings Inc. (NYSE: SPCE) Stock: Looks Like A Good Investment

Virgin Galactic Holdings Inc. (NYSE:SPCE) shares, rose in value on Thursday, 06/23/22, with the stock price up by 3.19% to the previous day’s close as strong demand from buyers drove the stock to $6.47.

Actively observing the price movement in the last trading, the stock closed the session at $6.27, falling within a range of $6.185 and $6.5292. The value of beta (5-year monthly) was 0.53. Referring to stock’s 52-week performance, its high was $57.51, and the low was $5.14. On the whole, SPCE has fluctuated by -1.37% over the past month.

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With the market capitalization of Virgin Galactic Holdings Inc. currently standing at about $1.55 billion, investors are eagerly awaiting this quarter’s results, scheduled for Feb 23, 2022 – Feb 28, 2022. 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 -$0.34, which is expected to increase to -$0.25 for fiscal year -$1.45 and then to about -$1.13 by fiscal year 2023. Data indicates that the EPS growth is expected to be -1.40% in 2023, while the next year’s EPS growth is forecast to be 22.10%.

According to the average forecast, sales growth in current quarter could jump down -89.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $5.65 million, representing an increase of 71.60% 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 -0.99% and -8.80% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 48.70, while the 7-day volatility ratio is showing 8.15% which for the 30-day chart, stands at 7.60%. Furthermore, Virgin Galactic Holdings Inc. (SPCE)’s beta value is 0.65, and its average true range (ATR) is 0.51. The company’s stock has been forecasted to trade at an average price of $9.46 over the course of the next 52 weeks, with a low of $4.00 and a high of $16.00. Based on these price targets, the low is 38.18% off current price, whereas the price has to move -147.3% to reach the yearly target high. Additionally, analysts’ median price of $8.00 is likely to be welcomed by investors because it represents a decrease of -23.65% from the current levels.

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 3.19% in last session, and over the past year, it shrunk by -84.15%%. In comparison, Raytheon Technologies Corporation (RTX) has moved lower at -0.86% on the day and was up 5.96% over the past 12 months. On the other hand, the price of The Boeing Company (BA) has fallen -2.33% on the day. The stock, however, is off -45.00% from where it was a year ago. Additionally, there is a loss of -2.87% for AAR Corp. (AIR) in last trading while the stock has seen an overall depriciation of 2.38%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 0.95%. Meanwhile, the Dow Jones Industrial Improved by 0.64%.

Data on historical trading for Virgin Galactic Holdings Inc. (NYSE:SPCE) indicates that the trading volumes over the past 10 days have averaged 8.8 million and over the past 3 months, they’ve averaged 10.17 million. According to company’s latest data on outstanding shares, there are 258.29 million shares outstanding.

Nearly 1.40% of Virgin Galactic Holdings Inc.’s shares belong to company insiders and institutional investors own 37.60% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 49.89 million shares as on Apr 28, 2022, resulting in a short ratio of 4.67. According to the data, the short interest in Virgin Galactic Holdings Inc. (SPCE) stood at 19.30% of shares outstanding as of Apr 28, 2022; the number of short shares registered in Mar 30, 2022 reached 53.96 million. The stock has fallen by -51.64% 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.

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