Virgin Galactic Holdings Inc. [NYSE: SPCE] loss -1.63% on the last trading session, reaching $7.23 price per share at the time. The company report on July 14, 2022 that Virgin Galactic Announces New Spaceship Manufacturing Facility in Mesa, Arizona.
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Capacity to Produce Up to Six Spaceships Per Year, Significantly Increasing Flight FrequencyWill Bring Hundreds of New Highly Skilled Jobs to Greater Phoenix Area.
Virgin Galactic Holdings, Inc. (NYSE: SPCE) (the “Company” or “Virgin Galactic”), an aerospace and space travel company, today announced it has signed a long-term lease for a new final assembly manufacturing facility for its next-generation Delta class spaceships. Located in Mesa, Greater Phoenix area, adjacent to the Phoenix-Mesa Gateway Airport, the facility will be capable of producing up to six spaceships per year and will bring hundreds of highly skilled aerospace engineering and manufacturing jobs to the area.
Virgin Galactic Holdings Inc. represents 258.29 million in outstanding shares, while the company has a total market value of $1.77 billion with the latest information. SPCE stock price has been found in the range of $7.21 to $7.75.
If compared to the average trading volume of 9.55M shares, SPCE reached a trading volume of 7681402 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $9.05 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 3.10. 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.
Wells Fargo have made an estimate for Virgin Galactic Holdings Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on June 21, 2022. While these analysts kept the previous recommendation, Truist raised their target price from $24 to $8. The new note on the price target was released on May 09, 2022, representing the official price target for Virgin Galactic Holdings Inc. stock. Previously, the target price had yet another drop from $36 to $8, while Canaccord Genuity kept a Hold rating on SPCE stock. On October 19, 2021, analysts decreased their price target for SPCE shares from 25 to 17.
The Average True Range (ATR) for Virgin Galactic Holdings Inc. is set at 0.49, with the Price to Sales ratio for SPCE stock in the period of the last 12 months amounting to 490.35. The Price to Book ratio for the last quarter was 2.48, with the Price to Cash per share for the same quarter was set at 3.55.
Trading performance analysis for SPCE stock
Virgin Galactic Holdings Inc. [SPCE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.71. With this latest performance, SPCE shares gained by 19.50% in over the last four-week period, additionally sinking by -27.92% over the last 6 months – not to mention a drop of -76.06% 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 57.07, with the RSI for the last a single of trading hit 60.70, and the three-weeks RSI is set at 53.98 for Virgin Galactic Holdings Inc. [SPCE]. The present Moving Average for the last 50 days of trading for this stock 6.55, while it was recorded at 7.08 for the last single week of trading, and 11.43 for the last 200 days.
Virgin Galactic Holdings Inc. [SPCE]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Virgin Galactic Holdings Inc. [SPCE] shares currently have an operating margin of -9700.33 and a Gross Margin at -258.14. Virgin Galactic Holdings Inc.’s Net Margin is presently recorded at -10719.90.
Return on Equity for this stock declined to -45.34, with Return on Assets sitting at -37.69.
Virgin Galactic Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.40 and a Current Ratio set at 6.60.
Virgin Galactic Holdings Inc. [SPCE]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SPCE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Virgin Galactic Holdings Inc. go to 9.90%.
An analysis of insider ownership at Virgin Galactic Holdings Inc. [SPCE]
There are presently around $624 million, or 37.40% of SPCE stock, in the hands of institutional investors. The top three institutional holders of SPCE stocks are: VANGUARD GROUP INC with ownership of 17,047,292, which is approximately 0.506% of the company’s market cap and around 1.40% of the total institutional ownership; STATE STREET CORP, holding 11,491,770 shares of the stock with an approximate value of $84.47 million in SPCE stocks shares; and BLACKROCK INC., currently with $69.71 million in SPCE stock with ownership of nearly 6.888% 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 141 institutional holders increased their position in Virgin Galactic Holdings Inc. [NYSE:SPCE] by around 23,465,747 shares. Additionally, 125 investors decreased positions by around 14,347,190 shares, while 70 investors held positions by with 47,036,921 shares. The mentioned changes placed institutional holdings at 84,849,858 shares, according to the latest SEC report filing. SPCE stock had 50 new institutional investments in for a total of 5,326,902 shares, while 61 institutional investors sold positions of 3,354,242 shares during the same period.