SpaceX (NASDAQ:SPCX) Stock Price Down 9.1% – Time to Sell?

SpaceX (NASDAQ:SPCX)’s share price was down 9.1% during mid-day trading on Thursday. The company traded as low as $143.21 and last traded at $144.75. Approximately 194,023,245 shares changed hands during trading, an increase of 88% from the average session volume of 103,053,352 shares. The stock had previously closed at $159.31.

More SpaceX News

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

Analyst Ratings Changes

Several research firms have recently commented on SPCX. Seaport Research Partners downgraded SpaceX from a “buy” rating to a “neutral” rating in a report on Friday, August 7th. Royal Bank Of Canada reissued an “outperform” rating on shares of SpaceX in a report on Monday. Argus upgraded SpaceX from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a report on Friday, August 7th. Piper Sandler reissued a “neutral” rating on shares of SpaceX in a research report on Wednesday. Finally, William Blair reiterated an “outperform” rating on shares of SpaceX in a research note on Friday, October 9th. Four research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, SpaceX currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.19.

SpaceX Stock Up 1.9%

The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. The stock’s 50-day moving average is $149.40. The firm has a market cap of $1.94 trillion and a price-to-earnings ratio of -1,638.78.

SpaceX (NASDAQ:SPCX) last announced its earnings results on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.25. The business had revenue of $14.57 billion for the quarter. During the same period in the previous year, the company posted ($0.36) EPS. The firm’s quarterly revenue was up 161.4% compared to the same quarter last year. Sell-side analysts predict that SpaceX will post 0.13 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction on Tuesday, September 22nd. The stock was 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 directly owned 2,472,035 shares in the company, valued at $379,630,414.95. This represents a 12.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Investors Weigh In On SpaceX

Several large investors have recently bought and sold shares of the business. Syntax Research Inc. purchased a new position in shares of SpaceX during the 2nd quarter worth $26,000. Atwood & Palmer Inc. purchased a new stake in shares of SpaceX in the second quarter worth about $29,000. PayPay Securities Corp purchased a new position in shares of SpaceX in the second quarter valued at $30,000. Marquette Asset Management LLC acquired a new stake in shares of SpaceX during the second quarter valued at about $32,000. Finally, Hickory Point Bank & Trust purchased a new stake in shares of SpaceX during the third quarter worth about $30,000.

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.