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Virgin Galactic (SPCE) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research
·2-min read

In the latest trading session, Virgin Galactic (SPCE) closed at $8.60, marking a +1.53% move from the previous day. This move outpaced the S&P 500's daily gain of 0.28%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 0.16%.

Coming into today, shares of the company had lost 41.71% in the past month. In that same time, the Aerospace sector gained 1.74%, while the S&P 500 lost 5.39%.

Virgin Galactic will be looking to display strength as it nears its next earnings release. On that day, Virgin Galactic is projected to report earnings of -$0.39 per share, which would represent a year-over-year decline of 25.81%.

Investors should also note any recent changes to analyst estimates for Virgin Galactic. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.58% higher. Virgin Galactic currently has a Zacks Rank of #2 (Buy).

The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 197, putting it in the bottom 23% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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Virgin Galactic Holdings, Inc. (SPCE) : Free Stock Analysis Report
 
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