SpaceX $SPCX Stock: Manchester Capital Management LLC Raises Stake

Manchester Capital Management LLC raised its position in SpaceX (NASDAQ:SPCX) by 93,916.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,641 shares of the company’s stock after purchasing an additional 5,635 shares during the period. Manchester Capital Management LLC’s holdings in SpaceX were worth $851,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Syntax Research Inc. bought a new position in SpaceX in the second quarter valued at $26,000. Atwood & Palmer Inc. purchased a new position in SpaceX in the 2nd quarter worth $29,000. PayPay Securities Corp bought a new position in shares of SpaceX during the second quarter valued at about $30,000. Hickory Point Bank & Trust bought a new stake in shares of SpaceX in the 3rd quarter valued at about $30,000. Finally, Maryland Capital Advisors Inc. purchased a new position in SpaceX in the 3rd quarter worth approximately $30,000.

SpaceX Trading Up 1.9%

Shares of SPCX stock opened at $147.49 on Friday. The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64. The stock has a market capitalization of $1.94 trillion and a PE ratio of -1,638.78. The stock has a 50 day moving average of $149.40.

SpaceX (NASDAQ:SPCX) last announced its earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.25. The firm had revenue of $14.57 billion during the quarter. During the same quarter last year, the firm earned ($0.36) earnings per share. The business’s revenue was up 161.4% on a year-over-year basis. As a group, equities analysts predict that SpaceX will post 0.13 earnings per share for the current year.

Insiders Place Their Bets

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the business’s stock in a transaction on 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 sale, the chief operating officer owned 2,472,035 shares in the company, valued at $379,630,414.95. The trade was a 12.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong earnings and AI growth supported the rebound. SpaceX reported third-quarter revenue of $14.58 billion, up 161% year over year, and earnings per share of $0.35 versus analysts’ $0.10 estimate. Its AI segment reportedly generated $431 million in net income, helping offset losses in the launch business. Fantastic News for SpaceX Stock Investors
• Positive Sentiment: Analyst sentiment improved sharply. PhilipCapital upgraded SpaceX from “Sell” to “Buy” and raised its price target from $75 to $250. Bank of America also lifted its target to $275, citing stronger growth prospects and Starship milestones. SpaceX Just Scored a Double Upgrade
• Positive Sentiment: Wireless ambitions broaden the growth story. Reports that SpaceX is seeking access to at least 80,000 U.S. cell sites suggest Starlink could evolve into a nationwide wireless carrier, potentially creating a major new revenue stream. The news pressured telecom stocks while benefiting tower owners. SpaceX Seeks Access to 80,000 US Cell Sites
• Neutral Sentiment: A potential Tesla (NASDAQ: TSLA) merger remains speculative. Elon Musk called the combination a “good idea,” but valuation, conflicts of interest, shareholder approval, antitrust review and Tesla’s China operations could delay or prevent a transaction. SpaceX-Tesla Merger Chatter
• Negative Sentiment: Funding and cash-burn concerns remain significant. SpaceX reportedly burned more than $9.9 billion in free cash flow during the quarter and is raising approximately $40 billion of debt at relatively high interest rates to finance AI and other expansion plans. SpaceX $40 Billion Debt Deal
• Negative Sentiment: Execution and reputational risks could limit upside. The launch division was unprofitable because of heavy research spending, while reports of continuing Starlink restrictions in Ukraine could threaten government relationships and future contracts. In addition, upcoming insider share unlocks may increase supply. Ukraine Says Starlink Restrictions Remain

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup raised their target price on SpaceX from $200.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday. Argus upgraded shares of SpaceX from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a report on Friday, August 7th. HSBC reissued a “hold” rating on shares of SpaceX in a research report on Wednesday. Cantor Fitzgerald lifted their price target on SpaceX from $246.00 to $345.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Phillip Securities raised SpaceX from a “strong sell” rating to a “strong-buy” rating in a research report on Friday. Four investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $244.19.

About SpaceX

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.