SPCE Surges Above 5-Day SMA Post Earnings Report
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 08 2024
0mins
Should l Buy SPCE?
Source: NASDAQ.COM
Shares of Virgin Galactic (SPCE.N) rose 4.53% to $3.46 in after-hours trading following its Q3 earnings report, crossing above its 5-day simple moving average. The company reported a narrower loss of $1.09 per share, beating analyst expectations, despite a 9.2% decline in revenue to $365,000. This positive earnings surprise, combined with operational improvements and plans for future commercial flights, has sparked renewed investor interest, although Wall Street analysts maintain a Moderate Sell consensus amid ongoing cash flow concerns.
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Analyst Views on SPCE
Wall Street analysts forecast SPCE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SPCE is 3.60 USD with a low forecast of 2.30 USD and a high forecast of 4.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
1 Buy
2 Hold
1 Sell
Hold
Current: 2.350
Low
2.30
Averages
3.60
High
4.50
Current: 2.350
Low
2.30
Averages
3.60
High
4.50
About SPCE
Virgin Galactic Holdings, Inc. is an aerospace and space travel company, which offers access to space for private individuals, researchers, and government agencies. The Company’s operations include design and development, manufacturing, ground and flight testing, and post-flight maintenance of its spaceflight system vehicles. The Company has developed a portfolio of proprietary technologies that are embodied in the specialized vehicles that it has created to enable commercial spaceflight. These technologies underpin its carrier aircraft, the mothership; its spaceships; its hybrid rocket motor; and its safety systems. Its Carrier Aircraft-The mothership is a twin-fuselage, custom-built aircraft designed to carry spaceships up to an altitude of approximately 45,000 feet, where the spaceship is released for its flight into space. Its Virgin Galactic spaceships are reusable with the capacity to carry pilots and private astronauts, research experiments and researchers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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