SpaceX (NASDAQ:SPCX – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $147.11 and last traded at $157.5960, with a volume of 41796938 shares changing hands. The stock had previously closed at $154.60.
Key SpaceX News
Here are the key news stories impacting SpaceX this week:
- Positive Sentiment: Cathie Wood’s ARK Invest bought more SpaceX shares on the pullback, signaling that some major investors still see long-term upside. Cathie Wood Defies Market Selloff: Invests $64M in SpaceX and Roblox on Huge Single-Day Drops
- Positive Sentiment: SpaceX signed a $6.3 billion compute deal with Reflection AI, which provides recurring revenue and reinforces its role in AI infrastructure. AI startup Reflection signs computing power deal with SpaceX
- Positive Sentiment: Some analysts argue the selloff may be creating a buying opportunity, with bull cases still tied to Starlink growth and AI monetization. SpaceX Valuation Loses Altitude as AI Risks Mount
- Neutral Sentiment: Michael Burry and other skeptics questioned SpaceX’s valuation, but also noted the stock is expensive to short, keeping the debate largely about fundamentals rather than a clear catalyst. Michael Burry Just Refused to Buy the SpaceX IPO. Here Are 3 Companies He Is Buying Instead.
- Negative Sentiment: SpaceX’s first public bond sale and reports that the company may need to raise cash so soon after the IPO have reinforced concerns about leverage and financing needs. SpaceX launches notes offering, discloses $100.8 billion cash balance
- Negative Sentiment: Multiple Wall Street notes downgraded or turned cautious on the stock, warning that the valuation is stretched after the huge IPO pop. SpaceX Stock Down 3% as KeyBanc Starts Coverage with Neutral Rating
- Negative Sentiment: Bearish coverage says rising debt, falling Starlink margins, and AI spending could drag on future earnings and force a lower multiple. SpaceX Valuation Loses Altitude as AI Risks Mount
Analyst Upgrades and Downgrades
SPCX has been the topic of a number of analyst reports. Arete Research set a $401.00 target price on shares of SpaceX and gave the stock a “buy” rating in a research report on Thursday, June 18th. Barclays upgraded shares of SpaceX from an “underweight” rating to an “overweight” rating in a research report on Monday. Wall Street Zen upgraded SpaceX to a “sell” rating in a report on Saturday. KeyCorp began coverage on SpaceX in a research note on Monday. They issued a “sector weight” rating for the company. Finally, Zacks Research upgraded SpaceX to a “hold” rating in a report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.67.
SpaceX Price 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 during the quarter.
Insider Transactions at SpaceX
In other SpaceX news, CEO Elon Musk sold 11,390 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $105.32, for a total transaction of $1,199,594.80. Following the transaction, the chief executive officer directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
SpaceX Company Profile
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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