Kimelman & Baird LLC Purchases 45,280 Shares of SpaceX $SPCX

Kimelman & Baird LLC raised its position in SpaceX (NASDAQ:SPCX) by 45,280.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 45,380 shares of the company’s stock after acquiring an additional 45,280 shares during the period. Kimelman & Baird LLC’s holdings in SpaceX were worth $6,846,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Syntax Research Inc. acquired a new position in shares of SpaceX during the second quarter worth approximately $26,000. Atwood & Palmer Inc. acquired a new stake in SpaceX in the 2nd quarter valued at $29,000. PayPay Securities Corp acquired a new stake in SpaceX in the 2nd quarter valued at $30,000. Marquette Asset Management LLC bought a new stake in SpaceX during the 2nd quarter valued at $32,000. Finally, Hickory Point Bank & Trust bought a new stake in SpaceX during the 3rd quarter valued at $30,000.

Insider Activity at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total value of $52,547,046.90. Following the completion of the sale, the chief operating officer owned 2,472,035 shares in the company, valued at $379,630,414.95. This represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Trading Up 8.6%

NASDAQ SPCX opened at $134.27 on Friday. The stock has a market cap of $1.82 trillion and a price-to-earnings ratio of 516.42. The company has a fifty day moving average of $149.18. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.25. The business had revenue of $14.57 billion for the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. SpaceX’s revenue was up 161.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.36) earnings per share. As a group, sell-side analysts predict that SpaceX will post 0.19 EPS for the current fiscal year.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Musk said SpaceX could exceed $500 billion in annual recurring revenue by December 2027, a forecast well above Wall Street expectations. He also pointed to U.S. government contracts as a growing revenue source, helping lift growth sentiment. Article: Musk Says SpaceX Will Hit a Revenue Number That Not One of Its 37 Analysts Believes
• Positive Sentiment: SpaceX’s partnership with Qualcomm to support Starlink Mobile’s planned 5G network offers a potential new telecom growth avenue, with deployment expected to begin in 2027. Article: Can SPCX’s Tie-Up With Qualcomm Strengthen Its Position in the 5G Market?
• Neutral Sentiment: Director Donald Harrison resigned from SpaceX’s board effective November 4. The announcement did not provide a reason, so the immediate business impact is unclear. Article: SpaceX Director Donald Harrison Resigns from Board
• Negative Sentiment: Democratic gains in Congress and Texas raised concerns about scrutiny, permitting and data-center expansion—important to SpaceX’s AI ambitions—and helped drive the recent selloff. Friday’s rebound recouped some of those losses, but the policy uncertainty remains. Article: Why SpaceX Stock Is Up Today
• Negative Sentiment: SpaceX’s wireless ambitions may require substantial spending and face tough competition. Deutsche Telekom’s CEO said building a rival mobile network would require a costly terrestrial footprint, highlighting execution and financing risks alongside the growth opportunity. Article: Deutsche Telekom CEO Says SpaceX Has a Massive Mountain to Climb to Compete in Mobile

Wall Street Analysts Forecast Growth

SPCX has been the topic of several research reports. Citigroup upped their price objective on shares of SpaceX from $200.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. DZ Bank initiated coverage on shares of SpaceX in a report on Friday, August 21st. They set a “sell” rating and a $100.00 price objective for the company. China Renaissance started coverage on shares of SpaceX in a research report on Thursday. They set a “buy” rating and a $194.20 target price for the company. Susquehanna upped their target price on shares of SpaceX from $173.00 to $176.00 and gave the stock a “neutral” rating in a report on Wednesday, October 21st. Finally, Wells Fargo & Company raised their price target on shares of SpaceX from $214.00 to $274.00 and gave the company an “overweight” rating in a research report on Wednesday, October 21st. Four research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, SpaceX currently has an average rating of “Moderate Buy” and a consensus price target of $243.60.

SpaceX Profile

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

SpaceX’s principal products and services include the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starlink satellite communications network. Falcon rockets are used to launch satellites, cargo and crew, while Dragon spacecraft support transportation to and from low Earth orbit.