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Virgin Galactic Holdings, Inc. (SPCE) Gains As Market Dips: What You Should Know

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In the latest trading session, Virgin Galactic Holdings, Inc. (SPCE - Free Report) closed at $21.03, marking a +0.1% move from the previous day. This move outpaced the S&P 500's daily loss of 1.4%. Elsewhere, the Dow lost 1.34%, while the tech-heavy Nasdaq lost 1.57%.

Heading into today, shares of the company had gained 31.97% over the past month, outpacing the Aerospace sector's loss of 2.35% and the S&P 500's loss of 0.46% in that time.

SPCE will be looking to display strength as it nears its next earnings release, which is expected to be November 5, 2020. On that day, SPCE is projected to report earnings of -$0.27 per share, which would represent a year-over-year decline of 35%.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.16 per share and revenue of $1.82 million. These totals would mark changes of -6.42% and +244.05%, respectively, from last year.

Any recent changes to analyst estimates for SPCE should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

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. Within the past 30 days, our consensus EPS projection has moved 0.29% higher. SPCE is currently a Zacks Rank #3 (Hold).

The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 225, putting it in the bottom 12% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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