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Wednesday, May 25, 2022

Virgin Galactic Holdings, Inc. (SPCE) Stock Steadily Rising in Aftermarket, Here’s Why

Virgin Galactic Holdings, Inc. (SPCE), an aerospace company, has gained an increase of 1.6% in aftermarket and as a result is trading at $7.95 at the time of the writing. During Tuesday’s regular trading session, the stock slumped by 6.90% and closed the day at $7.82. The stock started gaining in after the announcement of financial results from the company.

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Q4 2021 Results

On Tuesday, SPCE announced the results for Q4 and FY 2021. The said periods ended on 31st December 2021. The company had cash and marketable securities of $931 million on 31st December 2021. The GAAP SG&A expenses during the period stood at $40 million against $33 million for Q4 2020. The GAAP R&D expenses were $42 million against $41 million in Q4 2020. The company suffered a net loss of $81 million against $104 million for Q4 2020.

Financial Guidance for Q1 2022

Alongside the results, SPCE also released the guidance for Q1 2022. The company expected the free cash flow for the first quarter of fiscal 2022 to lie in a range of $(75) to $(85) million. The company further said that the results were subjected to numerous uncertainties as the results are based on some assumptions, which could get affected due to some factors.

Comments from CEO of SPCE

Michael Colglazier, CEO of SPCE, while commenting on the development said that the company was able to achieve numerous achievements during the fiscal year 2021. The company’s one-of-a-kind experience remains in string demand among the consumers. At the moment, the company is in midst of building an operational network for accommodating an ever-increasing customer base.

What’s Next for SPCE?

Looking towards what’s coming ahead, the analysts believe that the stock holds several negative signals currently and hence is expected to decline in the next couple of weeks. Investors should keep that in mind while taking any decision regarding investment in SPCE stock.

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