In the latest trading session, Virgin Galactic Holdings, Inc. (SPCE - Free Report) closed at $16, marking a -1.96% move from the previous day. This move lagged the S&P 500's daily gain of 1.15%. Elsewhere, the Dow gained 2.39%, while the tech-heavy Nasdaq lost 0.45%.
Coming into today, shares of the company had lost 52.06% in the past month. In that same time, the Aerospace sector lost 40.88%, while the S&P 500 lost 24.07%.
Wall Street will be looking for positivity from SPCE as it approaches its next earnings report date.
SPCE's full-year Zacks Consensus Estimates are calling for earnings of -$0.60 per share and revenue of $1.82 million. These results would represent year-over-year changes of +44.95% and -51.86%, respectively.
It is also important to note the recent changes to analyst estimates for SPCE. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 445.45% lower. SPCE is holding a Zacks Rank of #3 (Hold) right now.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 96, putting it in the top 38% 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.