SpaceX (NASDAQ:SPCX) Shares Up 2.6% – Should You Buy?

SpaceX (NASDAQ:SPCX)’s share price shot up 2.6% during trading on Thursday . The company traded as high as $153.50 and last traded at $152.16. Approximately 46,061,227 shares changed hands during trading, a decline of 67% from the average session volume of 138,348,703 shares. The stock had previously closed at $148.30.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX got a fresh boost from bullish Wall Street calls, including Raymond James’ $800 price target and other coverage that suggests significant upside if the company can execute on Starlink, Starship, and AI growth. Article Title
• Positive Sentiment: The stock is also benefiting from forced passive buying after being added to the Nasdaq-100, which could funnel billions of dollars from index funds into SPCX over time. Article Title
• Positive Sentiment: Cathie Wood’s ARK Invest reportedly bought more SpaceX shares again, reinforcing the view that some growth investors see the recent weakness as a buying opportunity. Article Title
• Positive Sentiment: SpaceX’s launch momentum and milestone coverage helped lift sentiment, with reports highlighting successful launch achievements and new commercial demand for Starship-related services. Article Title
• Neutral Sentiment: SpaceX also drew attention for the upcoming launch of Grok 4.5 and the company’s growing AI ambitions, but this has been a double-edged sword because investors are still waiting for proof that the AI push can translate into durable monetization.
• Negative Sentiment: Despite the bullish headlines, the stock has been volatile since its IPO and has recently fallen back from its early highs, as investors question the company’s lofty valuation and heavy losses. Article Title
• Negative Sentiment: Bearish commentary from high-profile investors such as Jeremy Grantham and concerns about junk-like bond pricing have added to the caution around SPCX, signaling that not everyone believes the current valuation is sustainable. Article Title

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SPCX. Wells Fargo & Company assumed coverage on SpaceX in a research report on Tuesday. They set an “overweight” rating and a $230.00 price objective on the stock. Seaport Research Partners upgraded shares of SpaceX to a “buy” rating in a research report on Monday, June 22nd. Cantor Fitzgerald assumed coverage on SpaceX in a research note on Tuesday. They set an “overweight” rating and a $246.00 price target on the stock. New Street Research upgraded shares of SpaceX to a “strong-buy” rating in a report on Thursday, June 11th. Finally, KeyCorp began coverage on shares of SpaceX in a report on Monday, June 22nd. They issued a “sector weight” rating on the stock. Four research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, SpaceX currently has a consensus rating of “Moderate Buy” and an average target price of $239.12.

SpaceX Stock Performance

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

Institutional Investors Weigh In On SpaceX

Large investors have recently bought and sold shares of the company. Atwood & Palmer Inc. acquired a new position in shares of SpaceX during the second quarter worth about $29,000. Burkett Financial Services LLC acquired a new stake in shares of SpaceX in the 2nd quarter worth $70,000. Contravisory Investment Management Inc. acquired a new stake in SpaceX in the second quarter valued at $73,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SpaceX in the 2nd quarter worth approximately $89,000. Finally, Beaird Harris Wealth Management LLC acquired a new position in shares of SpaceX during the 2nd quarter worth approximately $120,000.

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.