Streetbeat News

SPCE

Virgin Galactic Holdings, Inc.

https://www.virgingalactic.com

Industry

Aerospace & Defense

Virgin Galactic Holdings, Inc. focuses on the development, manufacture, and operation of spaceships and related technologies for conducting commercial human spaceflight and flying commercial research and development payloads into space. It is also involved in the ground and flight testing, and post-flight maintenance of its spaceflight system vehicles. The company serves private individuals, researchers, and government agencies. Virgin Galactic Holdings, Inc. was founded in 2017 is headquartered in Las Cruces, New Mexico. Virgin Galactic Holdings, Inc. was a former subsidiary of Virgin Orbit Holdings, Inc.

Open

6.60

Mkt cap

195M

Volume

1.3M

High

6.95

P/E Ratio

-0.42

52-wk high

54.60

Low

6.59

Div yield

N/A

52-wk low

5.26

US stocks are expected to open lackluster due to firmer bond yields and awaiting inflation data. Despite recent weakness, tech sector stocks are trading at unsustainable valuations. Analyst Tom Lee of Fund Strat suggests that the lackluster market movement in August should not worry investors. In premarket trading, SPDR S&P 500 ETF Trust fell 0.08% and Invesco QQQ ETF moved down 0.22%. Virgin Galactic Holdings climbed over 3% in premarket trading after a successful civilian space flight, while Tesla pulled back by over 1%.

Portfolio Pulse from Shanthi Rexaline

August 11, 2023 | 11:17 am

Virgin Galactic's CEO announced on NBC that the company's next flight is expected to take place in early September.

Portfolio Pulse from Charles Gross

August 10, 2023 | 8:31 pm

Virgin Galactic Holdings Inc (NYSE:SPCE) successfully launched tourists into orbit for the first time. The passengers included former Olympian Jon Goodwin and a mother-daughter pair who won their tickets through a lottery. The company's stock traded higher Thursday morning before reversing and dipping slightly in the red. The stock is currently down about 3% YTD versus the S&P 500’s gain of more than 17% in the same time period.

Portfolio Pulse from Aaron Bry

August 10, 2023 | 5:28 pm

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has successfully completed its first private astronaut flight, 'Galactic 02', achieving several historic milestones. The mission included the first female astronauts from the Caribbean, the first mother-daughter duo, and the most women flown in a single space mission. The company's third commercial spaceflight, 'Galactic 03', is planned for September.

Portfolio Pulse from Happy Mohamed

August 10, 2023 | 4:36 pm

Morgan Stanley analyst Kristine Liwag has reiterated an Equal-Weight rating on Virgin Galactic Holdings (NYSE: SPCE) and maintained a $4 price target.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:49 pm

Virgin Galactic Holdings Inc (NYSE:SPCE) reported Q2 revenue of $1.87 million, missing the consensus estimate of $2.69 million. The company reported an adjusted loss of 46 cents per share, beating analyst estimates for a loss of 51 cents per share. The loss was wider than the prior year, primarily due to increased R&D expenses. The company's cash position remains strong, with cash, equivalents and marketable securities of $980 million. Virgin Galactic anticipates revenue of approximately $1 million in both Q3 and Q4.

Portfolio Pulse from Adam Eckert

August 04, 2023 | 11:27 am

US stock futures fell on Wednesday due to a U.S. sovereign rating downgrade by Fitch, intensifying concerns about market overbought conditions. The downgrade was attributed to fiscal indiscipline and governance challenges. Amidst this, the market is absorbing a stream of earnings reports. Traders are also expressing unease over rising bond yields and await insights from a private payrolls survey. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) fell 0.43% and the Invesco QQQ ETF (NASDAQ:QQQ) slumped 0.70%. Several companies including Advanced Micro Devices, Inc. (NASDAQ:AMD), Starbucks Corp. (NASDAQ:SBUX), and Tesla, Inc. (NASDAQ:TSLA) saw movements in their stock prices following their quarterly results announcements.

Portfolio Pulse from Shanthi Rexaline

August 04, 2023 | 11:02 am

Several US stocks traded lower in Wednesday's pre-market session. Cambium Networks, trivago, SolarEdge Technologies, TMC the metals company, Sprouts Farmers Market, Camping World Holdings, XPeng, Virgin Galactic Holdings, DBV Technologies, Lumen Technologies, Tilray Brands, NIO, and Silk Road Medical all saw declines. The drops were largely due to worse-than-expected Q2 results, weak Q3 guidance, and corporate updates.

Portfolio Pulse from Lisa Levin

August 04, 2023 | 10:48 am

Virgin Galactic Hldgs (NYSE:SPCE) reported Q2 EPS of $(0.46), beating the analyst consensus estimate of $(0.51) by 9.8%. The company also reported quarterly sales of $1.87M, beating the analyst consensus estimate of $1.26M by 48.49%. This represents a 424.09% increase over sales from the same period last year.

Portfolio Pulse from sunil@benzinga.com

August 04, 2023 | 10:36 am

Virgin Galactic Holdings Inc (NYSE:SPCE) reported Q2 revenue of $1.87 million, missing the consensus estimate of $2.69 million. The company reported an adjusted loss of 46 cents per share, beating analyst estimates for a loss of 51 cents per share. The loss was wider than the prior year, primarily due to increased R&D expenses. The company's cash position remains strong, with $980 million as of June 30. Virgin Galactic anticipates revenue of approximately $1 million in both Q3 and Q4.

Portfolio Pulse from Adam Eckert

August 04, 2023 | 10:30 am

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