SpaceX (NASDAQ:SPCX) Stock Price Up 5.8% – What’s Next?

Shares of SpaceX (NASDAQ:SPCX) were up 5.8% during trading on Monday. The stock traded as high as $143.20 and last traded at $142.07. Approximately 102,576,971 shares were traded during trading, a decline of 1% from the average daily volume of 103,815,586 shares. The stock had previously closed at $134.27.

Key SpaceX News

Here’s some of the latest news about SPCX:

• Neutral Sentiment: CalPERS has nearly doubled its investment in spectrum assets tied to SpaceX’s deal, underscoring the potential value of the transaction, though the gain is not evidence of SpaceX’s operating performance. Article: CalPERS Doubles $500 Million Bet Thanks to Elon Musk’s SpaceX Deal
• Negative Sentiment: Friday’s Starship Flight 15 will attempt to catch both rocket stages with the launch tower—a first for the upper stage. The outcome is uncertain, and a failed catch could delay progress toward reusable, lower-cost launches, contributing to pre-test jitters. Article: Nov. 13 Could Be a Huge Day for SpaceX Stock
• Negative Sentiment: A court ruling allows a sexual-harassment case against SpaceX to proceed, creating potential legal and reputational headwinds. Article: Court Rules That Sexual Harassment Case Against SpaceX Can Proceed

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SPCX. William Blair restated an “outperform” rating on shares of SpaceX in a research note on Friday, October 9th. DZ Bank assumed coverage on shares of SpaceX in a research note on Friday, August 21st. They issued a “sell” rating and a $100.00 target price on the stock. KeyCorp reiterated a “sector weight” rating on shares of SpaceX in a report on Wednesday, October 21st. TD Cowen boosted their target price on shares of SpaceX from $200.00 to $224.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. Finally, Bank of America upped their price target on shares of SpaceX from $235.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, SpaceX currently has an average rating of “Moderate Buy” and an average target price of $243.60.

SpaceX Price Performance

The firm has a market cap of $1.90 trillion and a P/E ratio of 537.50. The firm has a fifty day moving average of $149.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00.

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.25. The company had revenue of $14.57 billion during the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The firm’s revenue was up 161.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.36) earnings per share. As a group, sell-side analysts predict that SpaceX will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On SpaceX

Several hedge funds have recently added to or reduced their stakes in SPCX. Alphabet Inc. lifted its stake in SpaceX by 0.7% in the 3rd quarter. Alphabet Inc. now owns 555,043,560 shares of the company’s stock valued at $83,733,871,000 after acquiring an additional 3,854,060 shares in the last quarter. SC US Ttgp LTD. acquired a new stake in shares of SpaceX in the second quarter valued at approximately $20,933,621,000. Darsana Capital Partners LP bought a new stake in shares of SpaceX in the second quarter worth $17,335,783,000. K5 Global Advisor LLC bought a new stake in shares of SpaceX in the second quarter worth $6,587,531,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in SpaceX during the third quarter worth $4,224,143,000.

SpaceX Company Profile

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.