Virgin Galactic Holdings Inc [SPCE] stock Upgrade by Truist analyst, price target now $3

Virgin Galactic Holdings Inc [NYSE: SPCE] loss -4.73% or -0.08 points to close at $1.61 with a heavy trading volume of 12393164 shares. The company report on February 27, 2024 at 4:05 PM that Virgin Galactic Announces Fourth Quarter and Full Year 2023 Financial Results and Provides Business Update.

Successfully Flew Six Human Spaceflights in Six Months in 2023.

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The daily chart for SPCE points out that the company has recorded -36.11% loss over the past six months.

If we look at the average trading volume of 10.21M shares, SPCE reached to a volume of 12393164 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 $2.71 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.

Truist have made an estimate for Virgin Galactic Holdings Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 10, 2024. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $4 to $1.75. The new note on the price target was released on November 22, 2023, representing the official price target for Virgin Galactic Holdings Inc stock. Previously, the target price had yet another raise to $4.75, while Alembic Global Advisors analysts kept a Neutral rating on SPCE stock.

The Average True Range (ATR) for Virgin Galactic Holdings Inc is set at 0.13, with the Price to Sales ratio for SPCE stock in the period of the last 12 months amounting to 94.72. The Price to Book ratio for the last quarter was 1.27, with the Price to Cash per share for the same quarter was set at 2.28.

Trading performance analysis for SPCE stock

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 -9.55. With this latest performance, SPCE shares dropped by -10.06% in over the last four-week period, additionally sinking by -36.11% over the last 6 months – not to mention a drop of -68.68% 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 39.26, with the RSI for the last a single of trading hit 36.92, and the three-weeks RSI is set at 40.92 for Virgin Galactic Holdings Inc [SPCE]. The present Moving Average for the last 50 days of trading for this stock 2.0114, while it was recorded at 1.7380 for the last single week of trading, and 2.6445 for the last 200 days.

Virgin Galactic Holdings Inc [SPCE]: A deeper dive into fundamental analysis

Virgin Galactic Holdings Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.03 and a Current Ratio set at 5.12.

Virgin Galactic Holdings Inc [SPCE]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Virgin Galactic Holdings Inc posted -0.57/share EPS, while the average EPS was predicted by analysts to be reported at -0.52/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -9.60%. 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 19.40%.

An analysis of Institutional ownership at Virgin Galactic Holdings Inc [SPCE]

The top three institutional holders of SPCE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SPCE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SPCE stock with ownership which is approximately 5.8325%.