SpaceX (NASDAQ:SPCX) Shares Up 7.2% – What’s Next?

Shares of SpaceX (NASDAQ:SPCX) were up 7.2% during trading on Monday . The company traded as high as $166.17 and last traded at $164.19. 79,927,012 shares traded hands during trading, a decline of 53% from the average daily volume of 171,237,406 shares. The stock had previously closed at $153.23.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Nasdaq will add SpaceX to the Nasdaq-100 on July 7, likely triggering large passive-index buying and boosting near-term demand. Article Title
• Positive Sentiment: Reports that SpaceX is in talks with Charter Communications could open a path for Starlink Mobile and support a broader telecom expansion strategy. Article Title
• Neutral Sentiment: Articles highlighted Cathie Wood’s Ark Venture Fund and other indirect holders, underscoring continued investor interest in SpaceX, but not changing the company’s fundamentals directly. Article Title
• Negative Sentiment: Several commentators warned SpaceX’s valuation looks stretched, with one top investor calling it “bubblicious” despite Starlink’s growth potential. Article Title
• Negative Sentiment: Investors are also worried about lock-up expirations and a potential wave of insider selling later this summer, which could weigh on the share price. Article Title

Analyst Ratings Changes

Several equities research analysts recently commented on SPCX shares. KeyCorp assumed coverage on shares of SpaceX in a research note on Monday, June 22nd. They set a “sector weight” rating on the stock. Benchmark began coverage on SpaceX in a report on Monday, June 22nd. They set a “buy” rating for the company. Arete Research set a $401.00 target price on shares of SpaceX and gave the stock a “buy” rating in a report on Thursday, June 18th. Wells Fargo & Company upgraded shares of SpaceX to an “overweight” rating in a research note on Monday, June 22nd. Finally, Cfra started coverage on shares of SpaceX in a research report on Friday, June 12th. They set a “sell” rating and a $115.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, SpaceX has an average rating of “Moderate Buy” and a consensus price target of $212.67.

SpaceX Price Performance

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

Insider Buying and Selling at SpaceX

In other news, CEO Elon Musk sold 11,390 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 526,165,900 shares in the company, valued at $55,415,792,588. This represents a 0.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

About SpaceX

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.