The Vanguard Group, Inc. has recently announced that it has increased stake in Virgin Galactic Holdings Inc. (NYSE:SPCE) by 3.04%. After grabbing 18.18 million shares, the institutional investor is now in possession of 0.54 million shares of the Industrials Company. The new investment brought the stake of investor firm to 7.03% having worth around $83.98 million. Moreover, BlackRock Fund Advisors increased its share by 1.1 million to have a control over 16.01 million shares. And SSgA Funds Management, Inc. raised its holdings to 1.34 million shares by acquiring 13.27 million shares or 5.13% of the stake.
Virgin Galactic Holdings Inc. (SPCE) concluded trading on 11/23/22 at a closing price of $5.14, with 3.31 million shares of worth about $17.04 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -20.56% during that period and on Wednesday the price saw a gain of about 2.39%. Currently the company’s common shares owned by public are about 263.91M shares, out of which, 223.91M shares are available for trading.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 32 times over the past 12 months. They bought 1,002,726 shares in 11 of the transactions. In 21 selling transactions, insiders dumped 102,729 shares.
SPDR S&P Aerospace & Defense ETF, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Virgin Galactic Holdings Inc. SPDR S&P Aerospace & Defense ETF is currently holding 8.18 million shares of worth totaling $37.81 million. The company recently came buying 33848.0 shares which brought its stake up to 3.16% of the company’s outstanding shares. iShares Russell 2000 ETF, after selling 5.01 million shares, have now control over 1.94% of the stake in the company. It holds 93090.0 shares of worth $23.16 million.
Virgin Galactic Holdings Inc. (NYSE: SPCE) started trading at $5.04, above $0.02 from concluding price of the previous day. However, the stock later moved at a day high price of 5.20, or with a gain of 2.39%. Stock saw a price change of -4.10% in past 5 days and over the past one month there was a price change of 11.26%. Year-to-date (YTD), SPCE shares are showing a performance of -61.58% which decreased to -69.46% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.11 but also hit the highest price of $17.34 during that period. The average intraday trading volume for Virgin Galactic Holdings Inc. shares is 5.70 million. The stock is currently trading 3.03% above its 20-day simple moving average (SMA20), while that difference is up 4.28% for SMA50 and it goes to -24.85% lower than SMA200.
The Vanguard Group, Inc. acquired 18.18 million shares of Virgin Galactic Holdings Inc. having value of about $83.98 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.54 million shares in the company valued at close to $2754063.4, or have control over 3.04% stake in the company. Virgin Galactic Holdings Inc. (NYSE: SPCE) currently have 263.91M outstanding shares and institutions hold larger chunk of about 37.00% of that. Holding of mutual funds in the company is about 20.08% while other institutional holders and individual stake holders have control over 38.42% and 14.77% of the stake respectively.
The stock has a current market capitalization of $1.41B and its 3Y-monthly beta is at 0.84. It has posted earnings per share of -$1.65 in the same period. It has Quick Ratio of 6.20 while making debt-to-equity ratio of 0.68. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SPCE, volatility over the week remained 4.28% while standing at 5.81% over the month.
Analysts are in expectations that Virgin Galactic Holdings Inc. (SPCE) stock would likely to be making an EPS of -$0.41 in the current quarter, while forecast for next quarter EPS is -$0.41 and it is -$1.34 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.51 which is -$0.26 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.32 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 51.60% while it is estimated to increase by 1.60% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wolfe Research on October 11, 2022 offering an Underperform rating for the stock and assigned a target price of $4 to it. Coverage by Bernstein stated Virgin Galactic Holdings Inc. (SPCE) stock as an Underperform in their note to investors on September 09, 2022, suggesting a price target of $4 for the stock. On August 05, 2022, Truist Downgrade their recommendations, while on June 21, 2022, Wells Fargo Initiated their ratings for the stock with a price target of $4. Stock get a Hold rating from Truist on May 09, 2022.