In the latest trading session, Virgin Galactic Holdings, Inc. (SPCE) closed at $37.26, marking a -0.24% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.44%, and the tech-heavy Nasdaq lost 0.67%.
Heading into today, shares of the company had gained 89.4% over the past month, outpacing the Aerospace sector's gain of 2.17% and the S&P 500's gain of 1.91% in that time.
Wall Street will be looking for positivity from SPCE as it approaches its next earnings report date. This is expected to be February 25, 2020.
It is also important to note the recent changes to analyst estimates for SPCE. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. SPCE is currently sporting a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 36% 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.
Original post