The SPCE stock price fluctuated between $23.91 and $26.5 throughout the trading session with the volume trading being 47M shares, which represented a positive variation when compared to the three months average volume of 27M shares.
The share price of Virgin Galactic Holdings, Inc. (NYSE:SPCE) ran up 12.15% to close Thursday’s market session at $25.3, higher as compared to yesterday’s close which brings the market valuation of the company to $6.09B.
The 52-week high for the Virgin Galactic Holdings, Inc.’s shares is $62.80. That puts it -59.70% from that peak but still a good gain since the share price dropped to a 52-week low of $14.27, while the S&P 500’s share price change was of 33%.
What does the trading volume tell us about the SPCE stock?
During the last trading session, Virgin Galactic Holdings, Inc. (NYSE:SPCE) has seen growth in its daily volume. The daily volume was of 27M, while in the last 10 days the average was 9.16M and last three months – 27.46M.
The increasing interest in the SPCE stock from the investors is helping to drive the stock price up.
Shrinking short interest
The Virgin Galactic Holdings, Inc.’s shares are seeing a decreasing short interest compared to the previous month. As of today, there are 26.81M shares being shorted which translates into 1.82 of a short ratio for SPCE, while in the previous month the shorted shares were 27.1M.
Virgin Galactic Holdings, Inc.’s (NYSE:SPCE) financials
With a market cap of 6.09B, Virgin Galactic Holdings, Inc. holds a total cash of $551.62M that translates into $2.14 per share, while the total debt is of $26.49M. The current revenue is of $571k.