SpaceX (NASDAQ:SPCX) Sets New 52-Week Low – What’s Next?

Shares of SpaceX (NASDAQ:SPCX) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $145.65 and last traded at $145.9430, with a volume of 40417871 shares. The stock had previously closed at $149.47.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Backpack launched 24/7 trading for tokenized U.S. equities, including SpaceX, which could broaden access for international investors and support liquidity over time. SpaceX’s IPO Hasn’t Solved Venture’s Bigger Problem: Liquidity Beyond The Mega Winners
• Positive Sentiment: Several Wall Street firms remain upbeat, with Raymond James assigning an $800 target and other analysts arguing that SpaceX’s Starlink, launch business, and AI ambitions still offer substantial upside. Raymond James Sets Wall Street’s Highest Price Target on SpaceX Stock at $800. Here’s the Math Behind the 425% Upside Call.
• Neutral Sentiment: Investors are watching the stock’s first month of trading closely, with commentary suggesting the initial post-IPO excitement has faded and the “rocket ride” has yet to fully begin. SpaceX Stock Has Traded for a Month. Investors Are Waiting for the Rocket Ride To Start
• Neutral Sentiment: SpaceX continues to get attention from launch milestones and new AI-related product updates, but these developments are not yet translating into a clear earnings story. SpaceX (SPCX) Stock Rallies After Firm Hits Major Launch Milestones
• Negative Sentiment: The main drag on SpaceX shares is concern that the stock is still too expensive after its post-IPO rally, with multiple reports highlighting heavy losses, rising capital needs, and uncertainty around when cash flow will turn positive. Is SPCX Stock a Buy Now or Too Expensive for the Risk Ahead
• Negative Sentiment: China’s successful reusable rocket booster landing is also adding competitive pressure, underscoring that SpaceX’s lead in reusable launch technology is no longer uncontested. Watch China land a reusable rocket for the first time, a new challenge for Elon Musk’s SpaceX

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SPCX. Seaport Research Partners raised SpaceX to a “buy” rating in a research report on Monday, June 22nd. Argus initiated coverage on SpaceX in a research note on Friday, June 26th. They issued a “hold” rating for the company. Barclays raised SpaceX from an “underweight” rating to an “overweight” rating in a report on Monday, June 22nd. Needham & Company LLC initiated coverage on shares of SpaceX in a research report on Tuesday. They set a “buy” rating and a $200.00 target price on the stock. Finally, Citigroup assumed coverage on shares of SpaceX in a research report on Tuesday. They issued a “buy” rating and a $200.00 price target for the company. Four research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, SpaceX has a consensus rating of “Moderate Buy” and an average price target of $239.12.

SpaceX Stock Performance

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

Hedge Funds Weigh In On SpaceX

A number of large investors have recently modified their holdings of SPCX. Teamwork Financial Advisors LLC purchased a new stake in shares of SpaceX in the second quarter valued at approximately $8,027,000. Dynamic Advisor Solutions LLC acquired a new stake in SpaceX in the second quarter valued at $3,383,000. Sage Capital Advisors llc purchased a new stake in shares of SpaceX during the 2nd quarter worth $3,254,000. Castle Rock Wealth Management LLC purchased a new stake in shares of SpaceX during the 2nd quarter worth $2,310,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of SpaceX during the 2nd quarter worth $2,502,000.

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.