Virgin Galactic Holdings Inc. (NYSE:SPCE) finished Thursday with a subtraction of -$0.18 to close at $2.58, a downside of -6.52 percent. An average of 13,744,660 shares of common stock have been traded in the last five days. There was a fall of -$0.15 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 17,292,436 shares traded, while the 50-day average volume stands at 28,017,287.
SPCE stock has decreased by -33.85% in the last month. The company shares reached their 1-month lowest point of $2.48 on 08/24/23. With the stock rallying to its 52-week high on 02/06/23, shares of the company touched a low of $2.62 and a high of $6.61 in 52 weeks. It has reached a new high 11 times so far this year and lost -25.86% or -$0.90 in price. In spite of this, the price is down -60.97% from the 52-week high.
Valuation Metrics
Virgin Galactic Holdings Inc. (SPCE) stock’s beta is 1.19. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 232.65, the price-to-book (PB) ratio at 1.56.
Financial Health
The quick ratio of Virgin Galactic Holdings Inc. for the three months ended June 29 was 5.40, and the current ratio was 5.50, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.86 and a total debt to equity ratio of 0.86 for the quarter ending June 29. Virgin Galactic Holdings Inc.’s EBITDA margin for the year ending June 29 is -21145.59%. Its gross profit as reported stood at $2.31 million compared to revenue of $2.31 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Virgin Galactic Holdings Inc.’s return on assets was -51.50%.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$134.36 million in the quarter, while revenues of -$159.39 million were grew 17.59%. The analyst consensus anticipated Virgin Galactic Holdings Inc.’s latest quarter earnings to come in at -$0.51 per share, but it turned out to be -$0.46, a 9.80% surprise. For the quarter, EBITDA amounted to -$135.83 million. Shareholders own equity worth $367.14 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Virgin Galactic Holdings Inc. (SPCE) price momentum. RSI 9-day as of the close on 24 August was 20.62%, suggesting the stock is oversold, with historical volatility in this time frame at 59.77%.
As of today, SPCE’s price is $2.75 -5.49% or -$0.15 from its 5-day moving average. SPCE is currently trading -31.20% lower than its 20-day SMA and -36.30% lower than its 100-day SMA. However, the stock’s current price level is -39.01% below the SMA50 and -47.56% below the SMA200.
The stochastic %K and %D were 9.63% and 10.56%, respectively, and the average true range (ATR) was 0.24. With the 14-day stochastic at 7.63% and the average true range at 0.25, the RSI (14) stands at 27.77%. The stock has reached -0.11 on the 9-day MACD Oscillator while the 14-day reading was at -0.31.
Analyst Ratings
Alembic Global Advisors upgraded Virgin Galactic Holdings Inc. (NYSE: SPCE) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as an Underweight. The consensus rating for Virgin Galactic Holdings Inc. (SPCE) among analysts is Hold. According to current brokerage recommendations, 2 brokerage firms advise that investors sell SPCE, while 6 suggest investors hold. There are 3 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.
What is SPCE’s price target for the next 12 months?
Analysts predict a range of price targets between $3.00 and $8.00, with a median target of $3.88. Taking a look at these predictions, the average price target given by analysts for Virgin Galactic Holdings Inc. (SPCE) stock is $4.47.
