In pre-market trading on Wednesday, shares of Virgin Orbit Stock (VORB:NSD) increased by more than 50% after Reuters reported that venture capitalist Matthew Brown may invest $200 million through a private share placement. The investment comes at a crucial time for the satellite launch systems industry, which has been experiencing financial challenges.
CNBC reports that despite these obstacles, Virgin Orbit is organizing a small team to work on Thursday and prepping for its next rocket launch. CEO Dan Hart stressed the significance of successful launches, adding that they are the “first step” in resuming operations “gradually.”
Nonetheless, nearly all of the company’s employees have been placed on unpaid leave and operations have been suspended until at least Monday. This has caused VORB stock to decline by more than 30% in the past five trading sessions alone.
The anticipated investment from Brown gives the beleaguered company a glimpse of optimism. If successful, it might offer the funds essential to resume operations and help Virgin Orbit regain its footing in the competitive satellite launch sector.
Virgin Orbit Stock Forecast:
Based on the Virgin Orbit stock forecasts from 3 analysts, the average analyst target price for Virgin Orbit Holdings Inc is USD 5.33 over the next 12 months. Virgin Orbit Holdings Inc’s average analyst rating is Sell.
Stock Target Advisor’s own stock analysis of Virgin Orbit Holdings Inc is Bearish, which is based on 2 positive signals and 6 negative signals. At the last closing, VORB stock price was USD 0.44. Virgin Orbit Holdings Inc’s stock price has changed by -58.19% over the past week, -69.95% over the past month, and -93.45% over the last year.
Company Profile:
Virgin Orbit Holdings, Inc., a vertically integrated aerospace company, designs and develops commercial space orbital air pad launch solutions for small satellites across government, research, and education industries.
It offers launch services for national security and defense; rideshare satellite launch services; civil spaceports; and space solutions. The company is headquartered in Long Beach, California.
