SpaceX (NASDAQ:SPCX) Shares Up 2.6% – Here’s What Happened

SpaceX (NASDAQ:SPCX)’s share price was up 2.6% during trading on Tuesday. The company traded as high as $150.06 and last traded at $149.24. 79,598,598 shares were traded during mid-day trading, a decline of 23% from the average session volume of 103,328,797 shares. The stock had previously closed at $145.47.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Starship reached orbit for the first time and deployed 26 next-generation Starlink satellites. Although the vehicle was lost during reentry, the operational payload demonstrated progress toward expanding Starlink capacity and lowering the network’s cost per unit of data. SpaceX reached orbit and deployed satellites
• Positive Sentiment: Analysts issued or reiterated bullish ratings following the flight. TD Cowen began coverage with a Buy rating and a $200 price target, while UBS maintained its Buy rating and cited a $210 target, supporting investor confidence in further upside. TD Cowen initiates coverage
• Positive Sentiment: UBS expects third-quarter revenue of $13.8 billion, 7% above consensus, with AI, Starlink connectivity, and launch services contributing to growth. The broker also forecasts adjusted EBITDA of $7.5 billion, above the $6.9 billion consensus estimate. UBS raises SpaceX revenue forecast
• Positive Sentiment: Investors are increasingly valuing SpaceX as an AI-compute and data-center provider, not merely a launch company. TD Cowen identified AI compute leasing as a potential main revenue driver, while reports tied to Anthropic’s IPO prospectus indicate potentially substantial future compute agreements involving SpaceX. TD Cowen on SpaceX AI compute
• Neutral Sentiment: SpaceX’s latest quarterly results showed revenue of $7.81 billion, up 91.9% year over year, and an adjusted loss of $0.09 per share that beat expectations. However, the company remains unprofitable and trades at an exceptionally demanding valuation, making future growth assumptions critical.
• Negative Sentiment: Starship’s engine shutdown, shortened mission, and destruction during splashdown underscore that reusable, high-frequency commercial flights are not yet routine. The stock also faces selling pressure and volatility from executive share sales, including a reported $52 million sale by President Gwynne Shotwell. Starship Flight 14 investor analysis

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SPCX shares. Citigroup cut SpaceX from a “buy” rating to a “sell” rating in a research report on Friday, August 7th. William Blair reaffirmed an “outperform” rating on shares of SpaceX in a research note on Friday, September 11th. Needham & Company LLC reissued a “buy” rating and issued a $250.00 price target on shares of SpaceX in a research report on Wednesday, August 5th. HSBC began coverage on shares of SpaceX in a research report on Thursday, July 23rd. They set a “hold” rating and a $115.00 price objective on the stock. Finally, UBS Group reissued a “buy” rating on shares of SpaceX in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, seven have issued a Hold rating and seven have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $218.68.

SpaceX Trading Up 2.6%

The stock has a market cap of $1.97 trillion and a price-to-earnings ratio of -1,658.22. The company’s fifty day moving average price is $136.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99.

SpaceX (NASDAQ:SPCX) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.17. The firm had revenue of $7.81 billion during the quarter. The business’s quarterly revenue was up 91.9% on a year-over-year basis. As a group, sell-side analysts predict that SpaceX will post -0.15 EPS for the current fiscal year.

Insider Activity at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the transaction, the chief operating officer owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. This trade represents a 12.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hedge Funds Weigh In On SpaceX

Several institutional investors have recently bought and sold shares of the stock. QRG Capital Management Inc. bought a new stake in shares of SpaceX during the 2nd quarter worth about $8,632,000. Envestnet Portfolio Solutions Inc. bought a new stake in SpaceX during the second quarter worth approximately $1,274,000. State Street Corp acquired a new position in SpaceX during the second quarter valued at approximately $1,858,329,000. Security National Bank of SO Dak bought a new stake in shares of SpaceX during the 2nd quarter worth $48,000. Finally, HBK Investments L P acquired a new position in SpaceX in the 2nd quarter valued at $40,579,000.

About SpaceX

Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.