Virgin Galactic Holdings Inc (NYSE:SPCE) price on Thursday, May 22, fall -1.08% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $3.68.
A look at the stock’s price movement, the close in the last trading session was $3.72. Turning to its 52-week performance, $23.00 and $2.18 were the 52-week high and 52-week low respectively. Overall, SPCE moved 30.04% over the past month.
Virgin Galactic Holdings Inc’s market cap currently stands at around $153.00 million, with investors looking forward to this quarter’s earnings report slated for in June.
The average forecast suggests down to a -88.35% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.7M, representing a -75.84% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SPCE is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
9 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 4 analyst(s) rate the stock as a Hold, 3 recommend SPCE as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 2 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SPCE’s current price about 11.36% and 16.32% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 55.23, while 7-day volatility ratio is 3.94% and 9.99% in the 30-day chart. Further, Virgin Galactic Holdings Inc (SPCE) has a beta value of 2.20, and an average true range (ATR) of 0.51. Analysts have given the company’s stock an average 52-week price target of $3.5, forecast between a low of $3 and high of $4. Looking at the price targets, the low is 18.48% off current price level while to achieve the yearly target high, price needs to move -8.7%. Nonetheless, investors will most likely welcome a 4.89% jump to $3.5 which is the analysts’ median price.
If we refocus on Virgin Galactic Holdings Inc (NYSE:SPCE), historical trading data shows that trading volumes averaged 4.32 million over the past 3 months. The company’s latest data on shares outstanding shows there are 39.99 million shares.
The 4.91% of Virgin Galactic Holdings Inc’s shares are in the hands of company insiders while institutional holders own 26.94% of the company’s shares. Current price change has pushed the stock -37.41% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SPCE stock continues to rise going into the next quarter.
