Following these proceedings, Truist upgraded its Virgin Galactic Holdings Inc [SPCE] rating to a Hold from a a Sell in a research note published on January 10, 2024; the price target was increased to $3 from $1. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in late November from “an Equal-weight” to “an Underweight”. Alembic Global Advisors also remained covering SPCE and has increased its forecast on June 14, 2023 with a “Neutral” recommendation from previously “an Underweight” rating. Wolfe Research revised its rating on February 17, 2023. It rated SPCE as “a Peer perform” which previously was an “an Underperform”.
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Price Performance Review of SPCE
On Tuesday, Virgin Galactic Holdings Inc [NYSE:SPCE] saw its stock jump 12.29% to $0.90. Over the last five days, the stock has gained 4.16%. Virgin Galactic Holdings Inc shares have fallen nearly -63.22% since the year began. Nevertheless, the stocks have fallen -77.64% over the past one year. While a 52-week high of $6.17 was reached on 01/02/24, a 52-week low of $0.70 was recorded on 04/22/24. SMA at 50 days reached $0.9842, while 200 days put it at $1.6936. A total of 77.44 million shares were traded, compared to the trading of 60.36 million shares in the previous session.
Levels Of Support And Resistance For SPCE Stock
The 24-hour chart illustrates a support level at 0.8050, which if violated will result in even more drops to 0.7090. On the upside, there is a resistance level at 0.9635. A further resistance level may holdings at 1.0260. The Relative Strength Index (RSI) on the 14-day chart is 47.49, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0387, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 65.79%. Stochastics %K at 14.14% indicates the stock is a buying.
The most recent change occurred on January 24, 2023 when KeyBanc Capital Markets began covering the stock and recommended ‘”a Sector weight”‘ rating.
