Virgin Galactic (SPCE) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term.
Virgin Galactic (SPCE) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Virgin Galactic Holdings reported Q3 revenue of $365,000 and improved EPS, but liquidity concerns remain unresolved. SPCE's cash burn improved to -$108 million, with $424 million in cash, but convertible notes of $421 million are due in 2027. The timeline for Delta commercial flights appears optimistic, with significant risks of delays and potential shareholder dilution.
| Aerospace & Defense Industry | Industrials Sector | Michael A. Colglazier CEO | XSTU Exchange | US92766K4031 ISIN |
| US Country | 744 Employees | - Last Dividend | 17 Jun 2024 Last Split | 28 Oct 2019 IPO Date |
Virgin Galactic Holdings, Inc. is a pioneering company situated in Tustin, California, that is at the forefront of aerospace and space travel. With a solid focus on the development, manufacture, and operation of spaceships and accompanying technologies, the company is shaping the future of space exploration. Virgin Galactic is dedicated to providing unique spaceflight experiences for private individuals, researchers, and government agencies, leveraging advanced technology and innovative designs to push the boundaries of what is possible in space travel.
Virgin Galactic specializes in the design, development, manufacturing, ground and flight testing, and post-flight maintenance of spaceflight systems. These systems are engineered to offer safe and exhilarating space travel experiences for private astronauts, facilitating suborbital flights with the purpose of space tourism, research, and education.
Offering one of the most unique experiences available today, Virgin Galactic provides commercial space travel opportunities for individuals dreaming of experiencing space. Through meticulous design and rigorous testing of their spaceships, Virgin Galactic aims to open the cosmos to private passengers, offering them an unparalleled journey beyond the Earth's atmosphere.
Aside from servicing private individuals, Virgin Galactic also facilitates missions for research entities and government agencies. The company’s spaceships are equipped to carry out a variety of scientific research in microgravity environments, allowing for groundbreaking experiments in fields ranging from physics to biology, which are not possible under Earth's gravitational conditions. Virgin Galactic thereby contributes to essential developments in science and technology that can benefit humanity.