SpaceX (NASDAQ:SPCX) Shares Up 2.8% – Should You Buy?

Shares of SpaceX (NASDAQ:SPCX) traded up 2.8% during mid-day trading on Thursday . The company traded as high as $162.16 and last traded at $162.00. 59,133,953 shares traded hands during trading, a decline of 61% from the average daily volume of 151,776,063 shares. The stock had previously closed at $157.54.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX is set to join the Nasdaq-100 on July 7, which could trigger index-fund buying and support demand for the stock. SpaceX Stock Is Joining the Nasdaq 100 Soon. What History Says Happens Next.
• Positive Sentiment: Analysts continue to point to upside for SpaceX, with new coverage and price targets suggesting the stock may still have room to run if growth accelerates. SpaceX Stock Price Forecast — Analysts See 30% Upside Ahead
• Positive Sentiment: Reports that SpaceX could disrupt telecom through Starlink, plus FCC moves to speed satellite licensing reviews, support the bullish case for faster commercialization. FCC Moves to Speed Satellite License Reviews, Boosting SpaceX and Rival Broadband Networks
• Neutral Sentiment: Congressional stock purchases in SpaceX are drawing attention and may increase trading interest, but the signal is more about scrutiny than fundamentals. First known congressional SpaceX stock buys surface after record IPO
• Negative Sentiment: Multiple articles warn that SpaceX’s valuation remains stretched, with critics calling it “catastrophic” and saying the stock could be vulnerable if growth does not quickly justify the price. SpaceX Stock Falls After Firm Calls Valuation ‘Catastrophic’
• Negative Sentiment: Short interest is rising sharply, showing that many traders are betting the post-IPO excitement will fade and that the stock may face more downside volatility. SpaceX Stock Price Forecast — Why Traders Are Shorting Despite a $760M Loss
• Negative Sentiment: Elon Musk denied reports that SpaceX is developing an AI handset, removing a speculative catalyst and adding to investor caution around the stock’s recent jump. SpaceX Stock (SPCX) Craters 7% as Musk Calls WSJ Al Device Report “Utterly False”

Analyst Upgrades and Downgrades

SPCX has been the topic of several analyst reports. New Street Research upgraded SpaceX to a “strong-buy” rating in a research report on Thursday, June 11th. Wolfe Research started coverage on SpaceX in a research note on Friday, June 12th. They issued an “outperform” rating and a $175.00 price objective on the stock. Oppenheimer lifted their price objective on SpaceX from $190.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. KGI Securities downgraded SpaceX from an “outperform” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Zacks Research raised shares of SpaceX to a “hold” rating in a report on Monday, June 15th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.12.

SpaceX Price Performance

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.27) EPS for the quarter. The business had revenue of $4.69 billion during the quarter.

Hedge Funds Weigh In On SpaceX

An institutional investor recently bought a new stake in SpaceX stock. KERR FINANCIAL PLANNING Corp bought a new stake in shares of SpaceX (NASDAQ:SPCX) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,315 shares of the company’s stock, valued at approximately $566,000.

SpaceX Company Profile

SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.

Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.