Virgin Galactic Holdings Inc. [SPCE] stock Downgrade by UBS analyst, price target now $45

Virgin Galactic Holdings Inc. [NYSE: SPCE] plunged by -$1.24 during the normal trading session on Friday and reaching a high of $31.17 during the day while it closed the day at $29.58. The company report on July 26, 2021 that SPCE Deadline: Bronstein, Gewirtz & Grossman, LLC Reminds Shareholders With Losses Exceeding $250K of Virgin Galactic Holdings, Inc. Class Action and Lead Plaintiff Deadline: July 27, 2021.

Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Virgin Galactic Holdings, Inc. (‘Virgin Galactic’ or ‘the Company’) (NYSE:SPCE) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Virgin Galactic securities between October 26, 2019 and April 30, 2021, (the ‘Class Period’). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

Virgin Galactic Holdings Inc. stock has also loss -2.05% of its value over the past 7 days. However, SPCE stock has inclined by 33.48% in the 3 months of the year. Over the past six months meanwhile, it has lost -13.71% and gained 24.65% year-on date.

The market cap for SPCE stock reached $7.42 billion, with 234.19 million shares outstanding and 165.97 million shares in the current float. Compared to the average trading volume of 41.10M shares, SPCE reached a trading volume of 19745909 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $31.70 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 2.60. 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.

UBS have made an estimate for Virgin Galactic Holdings Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 06, 2021. The new note on the price target was released on June 30, 2021, representing the official price target for Virgin Galactic Holdings Inc. stock.

The Average True Range (ATR) for Virgin Galactic Holdings Inc. is set at 4.48 The Price to Book ratio for the last quarter was 16.53, with the Price to Cash per share for the same quarter was set at 2.46.

SPCE stock trade performance evaluation

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 -2.05. With this latest performance, SPCE shares dropped by -27.54% in over the last four-week period, additionally sinking by -13.71% over the last 6 months – not to mention a rise of 17.61% 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 39.54, with the RSI for the last a single of trading hit 33.99, and the three-weeks RSI is set at 43.23 for Virgin Galactic Holdings Inc. [SPCE]. The present Moving Average for the last 50 days of trading for this stock 34.40, while it was recorded at 31.64 for the last single week of trading, and 30.55 for the last 200 days.

Virgin Galactic Holdings Inc. [SPCE]: An insightful look at the core fundamentals

Virgin Galactic Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.50 and a Current Ratio set at 5.70.

Virgin Galactic Holdings Inc. [SPCE]: Insider Ownership positions

There are presently around $1,509 million, or 25.90% of SPCE stock, in the hands of institutional investors. The top three institutional holders of SPCE stocks are: VANGUARD GROUP INC with ownership of 11,480,551, which is approximately 1.956% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 5,409,397 shares of the stock with an approximate value of $160.01 million in SPCE stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $83.54 million in SPCE stock with ownership of nearly New of the company’s market capitalization.

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136 institutional holders increased their position in Virgin Galactic Holdings Inc. [NYSE:SPCE] by around 8,084,418 shares. Additionally, 180 investors decreased positions by around 12,505,161 shares, while 51 investors held positions by with 30,413,427 shares. The mentioned changes placed institutional holdings at 51,003,006 shares, according to the latest SEC report filing. SPCE stock had 70 new institutional investments in for a total of 4,580,135 shares, while 71 institutional investors sold positions of 3,582,802 shares during the same period.

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