By Christiana Sciaudone
Investing.com -- Virgin Galactic Holdings (NYSE:SPCE) dropped 10% after the company said it delayed an upcoming space flight.
Virgin cited operations restrictions resulting from new guidelines from the New Mexico Department of Health to disrupt the spread of the Covid-19 virus in the state. The flight had been scheduled for Nov. 19-23.
It was to be the first spaceflight from Spaceport America, and to include revenue-generating payloads as part of the NASA flight opportunities program.
In its earnings report earlier this month, the company said it would reopen ticket sales in 2021 after Sir Richard Branson’s flight. Virgin reported a third quarter loss per share of 34 cents, worse than the expected 26 cents, on sales of $1 million, which was lower than the expected $1.07 million, according to data tracked by Investing.com. The net loss of $77 million compared to a $63 million net loss in the second quarter. Administrative and research and developments expenses were higher for the period.
Most analysts see promise in SPCE, with five saying buy and one saying hold.
Virgin went public about a year ago via a special purpose acquisition vehicle, and the shares have since doubled.