As of Wednesday close, Virgin Galactic Holdings Inc.’s (NYSE:SPCE) stock was down -$0.1, moving down -4.98 percent to $1.91. The average number of shares traded per day over the past five days has been 20,856,180 shares. 2 times new highs have been achieved over the past 5 days. In the last twenty days, the average volume was 15,181,195, while in the previous 50 days, it was 16,478,682.
Since last month, SPCE stock retreated -31.54%. Shares of the company fell to $1.83 on 09/18/23, the lowest level in the past month. A 52-week high of $6.61 was reached on 02/06/23 after having rallying from a 52-week low of $1.83. Since the beginning of this year, SPCE’s stock price has dropped by -45.11% or -$1.57, and marked a new high 11 times. However, the stock has declined by -71.10% since its 52-week high.
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Valuation Metrics
The stock’s beta is 1.20. Besides these, the trailing price-to-sales (P/S) ratio of 174.54, the price-to-book (PB) ratio of 1.16.
Financial Health
In the three months ended June 29, Virgin Galactic Holdings Inc.’s quick ratio stood at 5.40, while its current ratio was 5.50, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.86, and the total debt-to-equity ratio was 0.86. On the profitability front, the trailing twelve-month gross margin is 40.70% percent. Based on annual data, SPCE earned $2.31 million in gross profit and brought in $2.31 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -55.90%. Return on equity (ROE) for the past 12 months was -121.40%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. SPCE’s revenue rose 80.75% to $0.39 million during the quarter, while net income inched up to $1.87 million. While analysts expected Virgin Galactic Holdings Inc. to report -$0.51 quarterly earnings, the actual figure was -$0.46 per share, beating the consensus estimate by 9.80%. During the quarter, the company generated -$135.83 million in EBITDA. The liabilities of Virgin Galactic Holdings Inc. were 662.24 million at the end of its most recent quarter ended June 29, and its total debt was $477.17 million. The value of shareholders’ equity is $367.14 million.
Technical Picture
This quick technical analysis looks at Virgin Galactic Holdings Inc.’s (SPCE) price momentum. With a historical volatility rate of 59.77%, the RSI 9-day stood at 29.81% on 20 September.
At present, SPCE shares trade -30.55% below its 20-day simple moving average and -45.58% percent below its 100-day simple moving average. However, the stock is currently trading approximately -50.77% below its SMA50 and -63.27% below its SMA200.
Stochastic coefficient K was 11.32% and Stochastic coefficient D was 13.30%, while ATR was 0.17. Given the Stochastic reading of 9.20% for the 14-day period, the RSI (14) reading has been calculated as 29.38%. As of today, the MACD Oscillator reading stands at -0.09, while the 14-day reading stands at -0.26.
Analyst Ratings
Alembic Global Advisors upgraded its rating on Virgin Galactic Holdings Inc. (NYSE: SPCE) to a Neutral in a note to investors on June 14, 2023. The analysts firm previously had an Underweight rating on the stock.Virgin Galactic Holdings Inc. (SPCE) has been rated Hold by analysts. According to 1 brokerage firm, SPCE is a sell, and 5 firms recommend it is a Hold. There are 3 analysts who say the stock is underweight. A total of 0 analysts rate Virgin Galactic Holdings Inc. stock as buy, with 2 recommending it as overweight.
With a median target price of $3.88, the current consensus forecast for the stock is $3.00 – $8.00. Based on these forecasts, analysts predict Virgin Galactic Holdings Inc. (SPCE) will achieve an average price target of $4.63.
