Virgin Galactic Holdings Inc. [NYSE: SPCE] stock went on an upward path that rose over 4.00% on Thursday, amounting to a one-week price decrease of less than -12.30%. The company report on September 29, 2020 that Virgin Galactic Announces Date of Third Quarter 2020 Financial Results and Conference Call.
Virgin Galactic Holdings, Inc. (NYSE: SPCE) (“Virgin Galactic” or the “Company”), a vertically integrated aerospace and space travel company, today announced that it will report its financial results for the third quarter 2020 following the close of the U.S. markets on Thursday, November 5, 2020. Virgin Galactic will host a conference call to discuss the results that day at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).
A live webcast and replay of the conference call will be available on the Company’s Investor Relations website at investors.virgingalactic.com.
Over the last 12 months, SPCE stock rose by 71.35%. The one-year Virgin Galactic Holdings Inc. stock forecast points to a potential upside of 31.08. The average equity rating for SPCE stock is currently 1.90, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $4.61 billion, with 211.79 million shares outstanding and 168.10 million shares in the current float. Compared to the average trading volume of 13.66M shares, SPCE stock reached a trading volume of 8559294 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Virgin Galactic Holdings Inc. [SPCE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SPCE shares is $26.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SPCE stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Goldman have made an estimate for Virgin Galactic Holdings Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 23, 2020. While these analysts kept the previous recommendation, Susquehanna raised their target price to Positive. The new note on the price target was released on September 28, 2020, representing the official price target for Virgin Galactic Holdings Inc. stock. Previously, the target price had yet another raise to $35, while BofA Securities analysts kept a Buy rating on SPCE stock. On September 09, 2020, analysts increased their price target for SPCE shares from 22 to 24.
The Average True Range (ATR) for Virgin Galactic Holdings Inc. is set at 1.40, with the Price to Sales ratio for SPCE stock in the period of the last 12 months amounting to 1151.88. The Price to Book ratio for the last quarter was 10.89, with the Price to Cash per share for the same quarter was set at 1.42.
SPCE Stock Performance Analysis:
Virgin Galactic Holdings Inc. [SPCE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.30. With this latest performance, SPCE shares dropped by -5.46% in over the last four-week period, additionally plugging by 1.45% over the last 6 months – not to mention a rise of 71.35% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SPCE stock in for the last two-week period is set at 42.05, with the RSI for the last a single of trading hit 36.91, and the three-weeks RSI is set at 44.95 for Virgin Galactic Holdings Inc. [SPCE]. The present Moving Average for the last 50 days of trading for this stock 18.76, while it was recorded at 18.28 for the last single week of trading, and 18.69 for the last 200 days.
Insight into Virgin Galactic Holdings Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Virgin Galactic Holdings Inc. [SPCE] shares currently have an operating margin of -4241.26 and a Gross Margin at -138.11. Virgin Galactic Holdings Inc.’s Net Margin is presently recorded at -5578.82.
Return on Total Capital for SPCE is now -27.36, given the latest momentum, and Return on Invested Capital for the company is -36.07. Return on Equity for this stock declined to -36.76, with Return on Assets sitting at -32.20. When it comes to the capital structure of this company, Virgin Galactic Holdings Inc. [SPCE] has a Total Debt to Total Equity ratio set at 5.25. Additionally, SPCE Total Debt to Total Capital is recorded at 4.99, with Total Debt to Total Assets ending up at 4.05. Long-Term Debt to Equity for the company is recorded at 4.74, with the Long-Term Debt to Total Capital now at 4.50.
Reflecting on the efficiency of the workforce at the company, Virgin Galactic Holdings Inc. [SPCE] managed to generate an average of -$232,820 per employee. Receivables Turnover for the company is 16.40 with a Total Asset Turnover recorded at a value of 0.01.Virgin Galactic Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.40 and a Current Ratio set at 3.70.
Virgin Galactic Holdings Inc. [SPCE] Insider Position Details
There are presently around $850 million, or 26.00% of SPCE stock, in the hands of institutional investors. The top three institutional holders of SPCE stocks are: VANGUARD GROUP INC with ownership of 7,693,712, which is approximately 40.984% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 4,419,349 shares of the stock with an approximate value of $80.34 million in SPCE stocks shares; and STATE STREET CORP, currently with $79.6 million in SPCE stock with ownership of nearly 9673.388% of the company’s market capitalization.
Positions in Virgin Galactic Holdings Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 176 institutional holders increased their position in Virgin Galactic Holdings Inc. [NYSE:SPCE] by around 31,053,139 shares. Additionally, 64 investors decreased positions by around 5,251,133 shares, while 31 investors held positions by with 10,448,019 shares. The mentioned changes placed institutional holdings at 46,752,291 shares, according to the latest SEC report filing. SPCE stock had 110 new institutional investments in for a total of 10,404,740 shares, while 39 institutional investors sold positions of 3,588,465 shares during the same period.