Virgin Galactic Holdings Inc. [NYSE: SPCE] price plunged by -3.58 percent to reach at -$0.9. The company report on September 11, 2021 that Virgin Galactic Provides Update on Unity 23 Test Flight.
Virgin Galactic Holdings, Inc. (NYSE:SPCE) (the “Company” or “Virgin Galactic”), a vertically integrated aerospace and space travel company, announced an update regarding the timing of its next test flight “Unity 23” with the Italian Air Force.
During preparation for the Unity 23 test flight, a third-party supplier recently flagged a potential manufacturing defect in a component of the flight control actuation system that they supply to Virgin Galactic. At this point, it is not yet known whether the defect is present in the Company’s vehicles and what, if any, repair work may be needed. Out of an abundance of caution, and in line with Virgin Galactic’s established safety procedures, the Company is in the process of conducting inspections in partnership with the vendor.
A sum of 12474818 shares traded at recent session while its average daily volume was at 35.23M shares. Virgin Galactic Holdings Inc. shares reached a high of $24.87 and dropped to a low of $23.58 until finishing in the latest session at $24.26.
The one-year SPCE stock forecast points to a potential upside of 30.69. The average equity rating for SPCE stock is currently 2.80, trading closer to a bullish pattern in the stock market.
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 $35.00 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 2.80. 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.
Jefferies have made an estimate for Virgin Galactic Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 31, 2021. While these analysts kept the previous recommendation, Credit Suisse dropped their target price from $33 to $30. The new note on the price target was released on August 12, 2021, representing the official price target for Virgin Galactic Holdings Inc. stock. Previously, the target price had yet another raise to $25, while Morgan Stanley analysts kept a Underweight rating on SPCE stock. On July 06, 2021, analysts increased their price target for SPCE shares from 36 to 45.
The Average True Range (ATR) for Virgin Galactic Holdings Inc. is set at 1.87, with the Price to Sales ratio for SPCE stock in the period of the last 12 months amounting to 10616.98. The Price to Book ratio for the last quarter was 13.11, with the Price to Cash per share for the same quarter was set at 2.10.
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 -0.08. With this latest performance, SPCE shares dropped by -6.48% in over the last four-week period, additionally sinking by -30.29% over the last 6 months – not to mention a rise of 46.50% 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 39.78, with the RSI for the last a single of trading hit 38.30, and the three-weeks RSI is set at 41.44 for Virgin Galactic Holdings Inc. [SPCE]. The present Moving Average for the last 50 days of trading for this stock 30.70, while it was recorded at 25.03 for the last single week of trading, and 31.73 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 -115581.51 and a Gross Margin at -4082.35. Virgin Galactic Holdings Inc.’s Net Margin is presently recorded at -114720.59.
Return on Total Capital for SPCE is now -46.54, given the latest momentum, and Return on Invested Capital for the company is -46.40. Return on Equity for this stock declined to -48.32, with Return on Assets sitting at -38.74. 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 4.15. Additionally, SPCE Total Debt to Total Capital is recorded at 3.99, with Total Debt to Total Assets ending up at 3.42. Long-Term Debt to Equity for the company is recorded at 3.73, with the Long-Term Debt to Total Capital now at 3.58.
Reflecting on the efficiency of the workforce at the company, Virgin Galactic Holdings Inc. [SPCE] managed to generate an average of -$331,756 per employee. Receivables Turnover for the company is 0.51 with a Total Asset Turnover recorded at a value of 0.00.Virgin Galactic Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.20 and a Current Ratio set at 5.40.
Virgin Galactic Holdings Inc. [SPCE] Insider Position Details
There are presently around $1,339 million, or 26.20% of SPCE stock, in the hands of institutional investors. The top three institutional holders of SPCE stocks are: VANGUARD GROUP INC with ownership of 13,677,810, which is approximately 19.139% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 6,725,049 shares of the stock with an approximate value of $163.15 million in SPCE stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $92.72 million in SPCE stock with ownership of nearly 65.918% 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 167 institutional holders increased their position in Virgin Galactic Holdings Inc. [NYSE:SPCE] by around 15,795,612 shares. Additionally, 153 investors decreased positions by around 11,101,677 shares, while 56 investors held positions by with 28,277,335 shares. The mentioned changes placed institutional holdings at 55,174,624 shares, according to the latest SEC report filing. SPCE stock had 80 new institutional investments in for a total of 3,891,007 shares, while 58 institutional investors sold positions of 7,113,787 shares during the same period.