SpaceX (NASDAQ:SPCX) Shares Down 3.3% – Here’s Why

Posted by Geri Gentry on Jul 29th, 2026

SpaceX (NASDAQ:SPCX – Get Free Report) shares were down 3.3% on Wednesday . The company traded as low as $110.35 and last traded at $112.55. 53,063,942 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 105,885,297 shares. The stock had previously closed at $116.41.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

Positive Sentiment: Morgan Stanley reiterated its Overweight rating and $300 price target ahead of SpaceX’s first earnings report as a public company, implying substantial long-term upside if growth targets are met. Wall Street analyst issues new SpaceX stock price target
Positive Sentiment: Investors are looking for operational progress from Starship, including a reportedly successful heat-shield test, while a proposed FAA framework could accelerate commercial launch approvals and reduce regulatory delays. SpaceX, Blue Origin Could Get Faster Launch Approvals Under FAA’s Sweeping Proposal
Positive Sentiment: ARK Invest continued buying SpaceX-linked shares, signaling that Cathie Wood views the selloff as an opportunity to gain exposure to the company’s long-term innovation and AI-related ambitions. Cathie Wood Bets Big on Nvidia Stock
Neutral Sentiment: SpaceX is scheduled to report its first quarterly results as a public company on Aug. 4. Investors will focus on revenue growth, Starlink margins, capital spending, cash flow, and management’s outlook. SpaceX Reports Its First Quarterly Results as a Public Company
Negative Sentiment: Approximately 911 million shares are expected to become tradable when the insider lock-up expires on Aug. 6. The potential increase in supply is encouraging investors to delay purchases and could create additional selling pressure. Nearly 1 Billion SpaceX Shares Unlock On Aug. 6
Negative Sentiment: Reported short interest has reached roughly $26 billion, or about 35% of the float, reflecting bearish expectations and increasing volatility risk, although heavy short positioning could also amplify a future rebound. SpaceX Stock Now Has $26 Billion in Short Bets
Negative Sentiment: Analysts and financial commentators continue to question SpaceX’s valuation, citing its very high price-to-sales multiple, lack of profits, capital-intensive satellite operations, and uncertainty over whether future growth justifies the IPO-era premium.

Wall Street Analysts Forecast Growth

SPCX has been the topic of a number of research reports. Mizuho started coverage on SpaceX in a research note on Tuesday, July 7th. They issued an “outperform” rating and a $200.00 price objective on the stock. Daiwa Securities Group began coverage on shares of SpaceX in a research report on Thursday, July 2nd. They issued a “neutral” rating and a $175.00 price objective for the company. Argus assumed coverage on shares of SpaceX in a research note on Friday, June 26th. They issued a “hold” rating on the stock. KeyCorp reissued a “sector weight” rating on shares of SpaceX in a report on Tuesday. Finally, JPMorgan Chase & Co. began coverage on shares of SpaceX in a research report on Tuesday, July 7th. They set an “overweight” rating and a $225.00 price target for the company. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $230.50.

Read Our Latest Analysis on SPCX

SpaceX Stock Performance

SpaceX (NASDAQ:SPCX – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.27) earnings per share for the quarter. The company had revenue of $4.69 billion for the quarter.

Institutional Trading of SpaceX

Several institutional investors and hedge funds have recently made changes to their positions in SPCX. Atwood & Palmer Inc. bought a new stake in shares of SpaceX during the 2nd quarter worth $29,000. Marquette Asset Management LLC bought a new position in SpaceX in the second quarter valued at $32,000. Burkett Financial Services LLC bought a new position in SpaceX in the second quarter valued at $70,000. Contravisory Investment Management Inc. bought a new stake in SpaceX during the second quarter worth about $73,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of SpaceX in the 2nd quarter worth about $89,000.

About SpaceX

(Get Free Report)

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.