SpaceX (NASDAQ:SPCX – Get Free Report)’s share price traded down 16.4% during trading on Monday . The company traded as low as $154.00 and last traded at $154.60. 164,309,326 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 242,915,813 shares. The stock had previously closed at $185.00.
Key Stories Impacting SpaceX
Here are the key news stories impacting SpaceX this week:
- Positive Sentiment: SpaceX announced a major $6.3 billion compute deal with Reflection AI, creating a new recurring revenue stream for its AI/data-center business and reinforcing the company’s push beyond rockets and satellites. Reuters: AI startup Reflection signs computing power deal with SpaceX
- Positive Sentiment: The new bond sale is being framed by management as a way to refinance bridge debt and fund growth, while SpaceX also disclosed a very large cash balance, suggesting it has ample liquidity to keep investing in AI, satellites and launch capacity. Reuters: SpaceX launches notes offering, discloses cash balance
- Neutral Sentiment: KeyBanc initiated coverage with a cautious stance, but still acknowledged SpaceX’s disruptive growth potential; the note mainly kept the market focused on whether the stock’s valuation has outrun fundamentals. TipRanks: SpaceX Stock Down 3% as KeyBanc Starts Coverage with Neutral Rating
- Neutral Sentiment: Several articles highlighted that only a small portion of SpaceX shares are freely tradable and that major lockup dates are coming, which could increase volatility even if the long-term story remains intact. TipRanks: SpaceX Stock Key Lockup Dates Investors Need to Watch
- Negative Sentiment: Investors are reacting to a sharp re-rating after the IPO, with multiple outlets citing stretched valuation, fading momentum, and concerns that SpaceX may need more capital sooner than expected. MarketWatch: SpaceX already needs to raise more cash, and its stock is falling
- Negative Sentiment: MSCI reportedly gave SpaceX a poor ESG/governance score, adding another layer of skepticism around the stock’s risk profile and helping pressure shares. TipRanks: Why SpaceX Stock Is Sinking Today
Analyst Ratings Changes
A number of research firms have weighed in on SPCX. Morgan Stanley lowered shares of SpaceX to a “negative” rating in a research note on Monday. KGI Securities downgraded shares of SpaceX from an “outperform” rating to a “hold” rating in a research report on Monday. TD Cowen assumed coverage on shares of SpaceX in a report on Monday. They issued a “buy” rating on the stock. Barclays raised shares of SpaceX from an “underweight” rating to an “overweight” rating in a research report on Monday. Finally, Benchmark began coverage on SpaceX in a research note on Monday. They set a “buy” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $221.20.
SpaceX Stock Performance
SpaceX (NASDAQ:SPCX – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($1.27) earnings per share (EPS) for the quarter. The firm had revenue of $4.69 billion for the quarter.
Insiders Place Their Bets
In other SpaceX news, CEO Elon Musk sold 11,390 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was 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 of the company’s stock, valued at approximately $55,415,792,588. The trade was a 0.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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.
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