Virgin Galactic Holdings Inc. shares rose 4% in premarket trade Wednesday after Truist Securities upgraded the stock to hold from sell and raised its price target to $3 from $1. “Our view on the company’s operational prospects is unchanged,” Truist Securities analyst Michael Ciarmoli wrote in a note released Wednesday. “The company’s decision to halt commercial operations mid-2024 to focus on deploying capital towards the development of the Delta fleet is prudent in our view but removes the likelihood of an ...

Space tourism pioneer Virgin Galactic has had to make some tough choices lately. The choices resulted in a vote of confidence on Wednesday—sort of. ...

Virgin Galactic (SPCE -2.53%) achieved something truly out of this world in 2023 -- it began operating a space tourism business. For the science fiction aficionados out there, this is the stuff of dreams (unless you are rich enough to actually buy a ticket on one of the company's flights). But there's still one very big problem here, and it shows up clearly when you start to look at the company's financial statements.Virgin Galactic rockets produce more losses than thrustIn the third quarter of 2023, Virgin ...

Virgin Galactic (SPCE -5.93%) has big plans for the next three years that could, quite literally, make or break the company. The key date is January 2026, less than three years away, but that's much further away than it may seem. In fact, the company is so worried about reaching its goal that it recently pulled back on its current space flight schedule. Here's what you need to know about the next three years at Virgin Galactic.Virgin Galactic's backstoryVirgin Galactic's goal is to create a space travel bus ...

Shares of Virgin Galactic (SPCE 5.26%) are down 30% year to date, but not for a lack of progress from its underlying business. The tourism company completed its sixth successful human spaceflight in as many months in November and scheduled its next flight for late January 2024.It also recently announced a "strategic realignment" to focus on scaling up its next-generation spaceship fleet over the next three years.Is Branson's shrinking war chest reason to worry?The bigger question on investors' minds, howeve ...

Shares of Virgin Galactic Holdings Inc. SPCE, -10.61% climbed 3.8% in premarket trades Thursday, continuing their rollercoaster ride. The stock ended Wednesday’s session down 10.6%, registering its largest single-day percentage decline since Dec. 4, when it fell 17.5%. The stock ended Monday’s session up 6.9%. Earlier this week the space tourism company announced that the flight window for its Galactic 06 mission will open on Jan. 26, 2024. The flight will carry four private astronauts into space on the co ...

Shares of Virgin Galactic (SPCE -10.61%) blasted off following its reverse merger with a special purpose acquisition company (SPAC). It was able to start launching paying customers into space in 2023. But the hype around this space stock has clearly fizzled, given that it is down roughly 95% from its peak levels in 2021. Before you jump in, perhaps thinking the stock is a bargain, you need to understand these three facts.1. Virgin Galactic reached an important milestoneOn May 25, 2023, Virgin Galactic annou ...

Virgin Galactic Holdings, Inc. (NYSE:SPCE) Q3 2023 Earnings Conference Call November 8, 2023 5:00 PM ET Company Participants Eric Cerny - Vice President-Investor Relations Michael Colglazier - Chief Executive Officer Doug Ahrens - Chief Financial Officer Conference Call Participants Eric Yan - Wells Fargo Greg Konrad - Jefferies Myles Walton - Wolfe Research Michael Leshock - KeyBanc Capital Markets Oliver Chen - TD Cowen Operator Good afternoon. My name is Sarah, and I will be your conference operator toda ...

Q3 2023 EARNINGS UPDATE 11.08.2023 FORWARD-LOOKING STATEMENTS This presentation references certain financial measures that are not prepared in accordance with generally accepted accounting principles in the United States (GAAP), including, total nonGAAP operating expenses, Adjusted EBITDA and free cash flow. The Company defines total non-GAAP operating expenses as total operating expenses other than stock-based compensation and depreciation and amortization. The Company defines Adjusted EBITDA as earnings b ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-38202 Virgin Galactic Holdings, Inc. (Exact name of registrant as specified in its charter) | Delaware | | 85-3608069 | | --- | ...