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

Virgin Galactic Holdings, Inc. (NYSE:SPCE) is experiencing a significant drop in stock price, reaching all-time lows after announcing a potential reverse stock split ranging from 1-for-2 to 1-for-20. The decision will be voted on during the 2024 annual meeting. The stock has fallen nearly 40% over the past month, with 25.52% of its shares being sold short. Analysts have set an average 12-month price target of $1.5 for SPCE, with a high of $2 and a low of $1, indicating a mixed outlook.

Portfolio Pulse from Erica Kollmann

April 19, 2024 | 6:59 pm

Super Micro Computer, Inc. (SMCI) shares fell by 13.2% after the company announced its third-quarter earnings date without providing preliminary estimates, unlike the previous quarter. Other stocks showed significant movement, with notable gainers including Next.e.GO N.V. (EGOX) and Redwoods Acquisition Corp. (RWOD), and losers like Sunshine Biopharma, Inc. (SBFM) and iSpecimen Inc. (ISPC).

Portfolio Pulse from Avi Kapoor

April 19, 2024 | 5:25 pm

Virgin Galactic Holdings announced it is considering a reverse stock split, with options ranging from 1-for-2 to 1-for-20, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 3:43 pm

Virgin Galactic announced a proposal for a potential reverse stock split, ranging from 1-for-2 to 1-for-20, to be voted on at their annual meeting. This move aims to adjust the company's stock structure.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:20 pm

Virgin Galactic Holdings (NYSE:SPCE) has seen a 10.62% increase in short interest since its last report, with 93.69 million shares sold short, representing 25.52% of its float. This indicates a bearish market sentiment, as it takes traders 8.42 days to cover their short positions. Despite this, an increase in short interest can sometimes be bullish, suggesting a potential for a short squeeze. Virgin Galactic's short interest is significantly higher than its peer group average of 11.18%.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 7:15 pm

Blue Origin, founded by Jeff Bezos, announced its 7th crewed flight, NS-25, with a six-person crew, marking a return to human spaceflight after setbacks. The crew includes notable figures such as Ed Dwight and entrepreneurs from various fields. This follows a period of inactivity due to issues in an uncrewed flight in September 2022. The announcement comes amid increased interest in space travel, with recent achievements by Intuitive Machines and plans by Virgin Galactic to focus on profitability.

Portfolio Pulse from Chris Katje

April 12, 2024 | 5:47 pm

Wells Fargo analyst Matthew Akers has maintained an Underweight rating on Virgin Galactic Holdings (NYSE:SPCE) and reduced the price target from $1.75 to $1. This adjustment reflects a bearish outlook on the company's stock value.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 12:58 pm

The U.S. Defense Department's DARPA has selected Northrop Grumman Corp (NOC) to develop a concept for a moon-based railway. This initiative is part of DARPA's 10-year Lunar Architecture Capability Study aimed at establishing lunar infrastructure for future commercial services. Northrop Grumman will explore the feasibility, costs, risks, and necessary resources for building and operating a lunar railway system. This project aligns with growing interest in lunar exploration and space economy, highlighted by recent achievements in space tourism and exploration by companies like Intuitive Machines Inc (LUNR), SpaceX, Rocket Lab USA Inc (RKLB), Virgin Galactic Holdings Inc (SPCE), and Blue Origin.

Portfolio Pulse from Adam Eckert

March 20, 2024 | 9:41 pm

In Monday's intraday session, several industrials stocks showed significant movement. Solidion Technology (STI) led the gainers with a 77.1% increase, while Babcock & Wilcox Enterprises, Inc. 8.125% Senior Notes due 2026 (BWSN) led the losers with an 18.8% decrease. Notably, companies like NuScale Power (SMR), Li-Cycle Holdings (LICY), and Babcock & Wilcox (BW) had their Q4 earnings reports influencing their stock movements.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 5:31 pm

Virgin Galactic's stock price declined following the announcement of its fourth-quarter earnings.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 8:25 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.