SpaceX (NASDAQ:SPCX) Upgraded to Hold at Susquehanna

SpaceX (NASDAQ:SPCX) was upgraded by stock analysts at Susquehanna to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

SPCX has been the subject of a number of other reports. Wall Street Zen upgraded SpaceX to a “sell” rating in a report on Saturday. New Street Research raised SpaceX to a “strong-buy” rating in a research note on Thursday, June 11th. KeyCorp began coverage on SpaceX in a research report on Monday. They set a “sector weight” rating on the stock. Cfra began coverage on SpaceX in a research note on Friday, June 12th. They set a “sell” rating and a $115.00 target price for the company. Finally, Zacks Research upgraded SpaceX to a “hold” rating in a report on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $212.67.

SpaceX Stock Up 1.0%

Shares of NASDAQ SPCX opened at $156.11 on Tuesday. SpaceX has a 52-week low of $147.11 and a 52-week high of $225.64.

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

Insider Buying and Selling

In other SpaceX news, CEO Elon Musk sold 11,390 shares of the firm’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $105.32, for a total value of $1,199,594.80. Following the completion of the sale, the chief executive officer directly owned 526,165,900 shares in the company, valued at approximately $55,415,792,588. This trade represents a 0.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX announced a $6.3 billion compute deal with Reflection AI, which adds a new recurring revenue stream and underscores demand for its data-center capacity. Reuters: AI startup Reflection signs computing power deal with SpaceX
• Positive Sentiment: The company’s first-ever public bond sale drew unusually strong demand, showing lenders still view SpaceX as a high-quality credit despite the sell-off. CNBC: SpaceX raises $25 billion in debt sale less than two weeks after IPO
• Neutral Sentiment: KeyCorp initiated coverage with a “Sector Weight” view and relatively muted earnings estimates, reinforcing the idea that Wall Street is still waiting for proof that SpaceX’s growth can translate into profits.
• Negative Sentiment: SpaceX’s new debt offering and debt-refinancing needs are pressuring the stock, with investors worried the company is raising cash so soon after its IPO because operating cash flow may not be enough to fund expansion. MarketWatch: SpaceX already needs to raise more cash, and its stock is falling 10%
• Negative Sentiment: Ongoing concerns about valuation, dilution from acquisitions, and potential insider selling after lockup periods are adding to the sell-off and keeping traders cautious. Reuters: SpaceX launches notes offering, discloses $100.8 billion cash balance

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.