Wealthcare Advisory Partners LLC bought a new position in shares of SpaceX (NASDAQ:SPCX – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 9,577 shares of the company’s stock, valued at approximately $1,636,000.
A number of other large investors also recently added to or reduced their stakes in the business. Atwood & Palmer Inc. bought a new position in SpaceX in the 2nd quarter worth approximately $29,000. Burkett Financial Services LLC bought a new stake in shares of SpaceX during the second quarter valued at approximately $70,000. Contravisory Investment Management Inc. purchased a new position in shares of SpaceX in the second quarter worth $73,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of SpaceX during the second quarter worth $89,000. Finally, Beaird Harris Wealth Management LLC bought a new position in shares of SpaceX during the second quarter worth $120,000.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on SPCX. Zacks Research upgraded shares of SpaceX to a “hold” rating in a report on Monday, June 15th. Oppenheimer raised their price objective on SpaceX from $190.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. Wall Street Zen raised SpaceX from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. HSBC assumed coverage on SpaceX in a research report on Thursday, July 23rd. They issued a “hold” rating and a $115.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $250.00 price target on shares of SpaceX in a report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $229.00.
SpaceX Stock Down 3.3%
Shares of NASDAQ:SPCX opened at $141.29 on Friday. The business has a fifty day simple moving average of $143.04. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. 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 has a market cap of $1.85 trillion and a PE ratio of -1,569.89.
SpaceX (NASDAQ:SPCX – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17. The business had revenue of $7.81 billion during the quarter. The firm’s quarterly revenue was up 91.9% on a year-over-year basis. On average, analysts expect that SpaceX will post -0.15 earnings per share for the current year.
Key Headlines Impacting SpaceX
Here are the key news stories impacting SpaceX this week:
- Positive Sentiment: CEO Elon Musk disclosed a 48.4% ownership stake as of June 30, worth more than $900 billion at current market values. The large holding may reinforce alignment between Musk and shareholders. Musk discloses 48.4% stake in SpaceX
- Positive Sentiment: Musk said AI-compute revenue could exceed revenue from rockets and Starlink as soon as September. Reports that SpaceX has 1.4 gigawatts of capacity online, is targeting 10 gigawatts next year and has major Anthropic and Google Cloud commitments have strengthened the growth narrative. SpaceX AI capacity expansion
- Positive Sentiment: SpaceX’s first public quarterly report showed revenue rising 91.9% year over year to $7.81 billion, while its quarterly loss was narrower than expected. Continued Starlink expansion, including new orders opening in Vietnam, adds to the company’s operating momentum. Starlink starts taking orders in Vietnam
- Neutral Sentiment: Norway’s sovereign wealth fund disclosed a roughly $1.2 billion SpaceX position, offering evidence of institutional interest, although the filing does not indicate whether the fund is adding or reducing exposure. Norway fund discloses SpaceX stake
- Negative Sentiment: Retail investors broke an almost eight-week buying streak on August 7, suggesting profit-taking after the post-IPO rebound and potentially reducing an important source of demand. SpaceX’s Most Loyal Buyers Blinked
- Negative Sentiment: Bearish analysts cite roughly $25 billion of free-cash-flow consumption in six months, substantial AI infrastructure spending, customer concentration and reliance on Musk. Analyst targets reportedly range from $140 to $450, highlighting major valuation uncertainty. SpaceX analyst disagreement
- Negative Sentiment: A further insider share unlock expected on August 21 could create additional selling pressure, while Texas has frozen broadband grants amid scrutiny of alleged favoritism involving satellite providers, including Starlink.
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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