Virgin Galactic Holdings Inc. (NYSE:SPCE) saw a downside of -1.98% to close Tuesday at $3.46 after subtracting -$0.07 on the day. The 5-day average trading volume is 17,828,900 shares of the company’s common stock. It has gained $4.25 in the past week and touched a new high 1 time within the past 5 days. An average of 17,437,150 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 26,806,236.
SPCE’s 1-month performance is -8.47% or -$0.21 on its low of $3.34 reached on 08/08/23. The company’s shares have touched a 52-week low of $2.98 and high of $7.37, with the stock’s rally to the 52-week high happening on 02/06/23. YTD, SPCE has lost -0.57% or -$0.02 and has reached a new high 11 times. However, the current price is down -53.05% from the 52-week high price.
Valuation Metrics
SPCE stock has a beta of 1.14. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 332.72 while the price-to-book (PB) in the most recent quarter is 2.10.
Virgin Galactic Holdings Inc.’s quick ratio for the period ended June 29 was 5.40, with the current ratio over the same period at 5.50.. In terms of profitability, the gross margin trailing 12 months is 40.70%. The trailing 12-month EBITDA margin is -21145.59%. The firm’s gross profit as reported stood at $2.31 million against revenue of $2.31 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Virgin Galactic Holdings Inc.’s cash and short-term investments amounted to $581.91 million against total debt of $477.17 million. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 17.59% to -$134.36 million, while revenue of -$159.39 million was -18.63% off the previous quarter. Analysts expected SPCE to announce -$0.51 per share in earnings in its latest quarter, but it posted -$0.46, representing a 9.80% surprise. EBITDA for the quarter stood at more than -$135.83 million. SPCE stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 662.24 million, with total debt at $477.17 million. Shareholders hold equity totaling $367.14 million.
Let’s look briefly at Virgin Galactic Holdings Inc. (SPCE) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 34.73% to suggest the stock is trending Neutral, with historical volatility in this time period at 69.77%.
The stock’s 5-day moving average is $3.69, reflecting a -16.43% or -$0.68 change from its current price. SPCE is currently trading -10.82% above its 20-day SMA, -25.27% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -14.57% and SMA200 by-22.77%.
Stochastic %K and %D was 10.72% and 16.04% and the average true range (ATR) pointed at 0.27. The RSI (14) points at 39.92%, while the 14-day stochastic is at 12.24% with the period’s ATR at 0.29. The stock’s 9-day MACD Oscillator is pointing at -0.27 and -0.26 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Virgin Galactic Holdings Inc. (NYSE: SPCE), Alembic Global Advisors upgraded it to a Neutral rating. They previously had an Underweight rating on the stock.
What is SPCE’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $3.00 and a high of $8.00, with their median price target at $3.88. Looking at these predictions, the average price target given by analysts is for Virgin Galactic Holdings Inc. (SPCE) stock is $4.47.
