Virgin Galactic Holdings Inc (NYSE: SPCE) stock jumped 5.29% on Friday to $2.19 against a previous-day closing price of $2.08. With 9.41 million shares changed hands, the volume of the stock remained lighter than its average volume of 11.99 million shares. During the session, the Aerospace & Defense company that operates in wider Industrials sector, reached to the highest price of $2.2100 whereas the lowest price it dropped to was $2.0700. The 52-week range on SPCE shows that it touched its highest point at $6.61 and its lowest point at $1.38 during that stretch. It currently has a 1-year price target of $2.54. Beta for the stock currently stands at 1.44.
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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 SPCE was up-trending over the past week, with a rise of 22.35%, but this was up by 25.14% over a month. Three-month performance dropped to -21.51% while six-month performance fell -49.77%. The stock lost -59.14% in the past year, while it has lost -37.07% so far this year. A look at the trailing 12-month EPS for SPCE yields -1.86 with Next year EPS estimates of -1.02. For the next quarter, that number is -0.30. This implies an EPS growth rate of 15.93% for this year and 35.50% for next year.
Float and Shares Shorts:
At present, 399.71 million SPCE shares are outstanding with a float of 361.09 million shares on hand for trading. On Oct 30, 2023, short shares totaled 74.0 million, which was 18.51% higher than short shares on Sep 28, 2023. In addition to Mr. Michael A. Colglazier as the firm’s CEO, President & Director, Mr. Douglas T. Ahrens serves as its Executive VP, CFO & Treasurer.
Institutional Ownership:
Through their ownership of 39.62% of SPCE’s outstanding shares, institutional investors have minority control over the company.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SPCE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SPCE analysts setting a high price target of $5.00 and a low target of $1.00, the average target price over the next 12 months is $2.54. Based on these targets, SPCE could surge 128.31% to reach the target high and fall by -54.34% to reach the target low. Reaching the average price target will result in a growth of 15.98% from current levels.
Summary of Insider Activity:
Insiders traded SPCE stock several times over the past three months with 1 Buys and 3 Sells. In these transactions, 58,140 shares were bought while 1,218 shares were sold. The number of buy transactions has increased to 22 while that of sell transactions has risen to 35 over the past year. The total number of shares bought during that period was 2,011,981 while 233,374 shares were sold.
