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


Virgin Galactic (SPCE) closed the most recent trading day at $30.59, moving +1.29% from the previous trading session. This move outpaced the S&P 500’s daily gain of 0.6%. Elsewhere, the Dow gained 1.46%, while the tech-heavy Nasdaq lost 0.04%.

Heading into today, shares of the company had lost 46.76% over the past month, lagging the Aerospace sector’s gain of 0.72% and the S&P 500’s loss of 0.8% in that time.

Investors will be hoping for strength from SPCE as it approaches its next earnings release.

SPCE’s full-year Zacks Consensus Estimates are calling for earnings of -$0.80 per share and revenue of $6.67 million. These results would represent year-over-year changes of +36% and +2702.52%, respectively.

It is also important to note the recent changes to analyst estimates for SPCE. 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 73.19% lower. SPCE is currently sporting a Zacks Rank of #3 (Hold).

The Aerospace – Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 223, putting it in the bottom 13% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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2021-03-10 22:45:10

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