Prepare Yourself for Liftoff: Virgin Orbit Holdings Inc. (VORB)

Virgin Orbit Holdings Inc. (NASDAQ: VORB) stock jumped 2.87% on Tuesday to $1.79 against a previous-day closing price of $1.74. With 0.55 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.31 million shares. During the session, the Aerospace & Defense company that operates in wider Industrials sector, reached to the highest price of $1.7900 whereas the lowest price it dropped to was $1.6800. The 52-week range on VORB shows that it touched its highest point at $10.24 and its lowest point at $1.50 during that stretch. It currently has a 1-year price target of $5.33.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of VORB was down-trending over the past week, with a drop of -3.76%, but this was down by -4.28% over a month. Three-month performance dropped to -41.50% while six-month performance fell -55.25%. The stock lost -78.38% in the past year, while it has lost -3.24% so far this year. A look at the trailing 12-month EPS for VORB yields -0.62 with Next year EPS estimates of -0.49. For the next quarter, that number is -0.17. This implies an EPS growth rate of -29.30% for this year and 16.90% for next year.

Float and Shares Shorts:

At present, 335.42 million VORB shares are outstanding with a float of 67.43 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.87 million, which was 0.26% higher than short shares on Sep 14, 2022. In addition to Mr. Daniel M. Hart as the firm’s CEO & Director, Mr. Tony Gingiss serves as its Chief Operating Officer.


Institutional Ownership:

Through their ownership of 19.14% of VORB’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 95.43% of VORB, in contrast to 0.74% held by mutual funds. Shares owned by individuals account for 0.17%. As the largest shareholder in VORB with 0.64% of the stake, The Vanguard Group, Inc. holds 2,163,811 shares worth 2,163,811. A second-largest stockholder of VORB, Omega Advisors, Inc., holds 500,000 shares, controlling over 0.15% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in VORB, holding 176,023 shares or 0.05% stake. With a 0.61% stake in VORB, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,044,300 shares are owned by the mutual fund manager. The Marshall Wace UCITS Funds Plc – M, which owns about 0.06% of VORB stock, is the second-largest Mutual Fund holder. It holds 185,127 shares valued at 0.34 million. Fidelity Nasdaq Composite Index F holds 0.05% of the stake in VORB, owning 176,023 shares worth 0.33 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for VORB since 3 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With VORB analysts setting a high price target of $9.00 and a low target of $1.00, the average target price over the next 12 months is $5.33. Based on these targets, VORB could surge 402.79% to reach the target high and fall by -44.13% to reach the target low. Reaching the average price target will result in a growth of 197.77% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. VORB will report FY 2022 earnings on 03/27/2024. Analysts have provided yearly estimates in a range of -$0.53 being high and -$0.66 being low. For VORB, this leads to a yearly average estimate of -$0.59. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Virgin Orbit Holdings Inc. surprised analysts by $0.00 when it reported -$0.13 EPS against a consensus estimate of -$0.13. Based on analyst estimates, the high estimate for the next quarter is -$0.17 and the low estimate is -$0.17. The average estimate for the next quarter is thus -$0.17.

Summary of Insider Activity:

Insiders traded VORB stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 9 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 477,074 while 0 shares were sold.

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