SpaceX (NASDAQ:SPCX) Stock Price Down 3.9% Following Analyst Downgrade

Posted by Brenda Bartman on Sep 9th, 2026

Shares of SpaceX (NASDAQ:SPCX – Get Free Report) were down 3.9% during trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $215.00 to $212.00. Wells Fargo & Company currently has an overweight rating on the stock. SpaceX traded as low as $145.55 and last traded at $147.55. 119,997,344 shares were traded during mid-day trading, an increase of 15% from the average session volume of 104,775,258 shares. The stock had previously closed at $153.47.

Several other equities research analysts have also weighed in on the stock. DZ Bank began coverage on shares of SpaceX in a report on Friday, August 21st. They issued a “sell” rating and a $100.00 target price on the stock. Barclays raised shares of SpaceX from an “underweight” rating to an “overweight” rating in a research note on Monday, June 22nd. Benchmark assumed coverage on SpaceX in a report on Monday, June 22nd. They issued a “buy” rating on the stock. Canaccord Genuity Group assumed coverage on SpaceX in a report on Tuesday, July 7th. They set a “buy” rating and a $246.00 price target for the company. Finally, Weiss Ratings assumed coverage on SpaceX in a report on Tuesday, September 1st. They set a “sell (d)” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have issued a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $221.06.

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Key SpaceX News

Here are the key news stories impacting SpaceX this week:

Positive Sentiment: Pivotal Research initiated coverage with a Buy rating and a $220 price target, citing Starship reusability as the key catalyst and Starlink’s opportunity in the broader wireless market. SpaceX is a buy as the rocket company can solve one major bottleneck
Positive Sentiment: Potential inclusion or increased weighting in the Nasdaq-100 could generate an estimated $15.5 billion of passive buying, providing a future technical tailwind for SPCX. SpaceX Could Draw $15.5B in Passive Buying as Nasdaq Rebalance Looms
Positive Sentiment: Cloudflare’s market reaction to partnerships involving SpaceX and OpenAI highlights investor enthusiasm for SpaceX’s expanding AI and connectivity ecosystem, although the immediate share-price impact is primarily reflected in Cloudflare. Cloudflare Stock Soars as Investors Reward OpenAI and SpaceX Partnerships
Neutral Sentiment: SpaceX successfully returned a rocket after launching NASA’s Nancy Grace Roman Space Telescope, supporting its established launch and recovery capabilities. SpaceX rocket taxi returns after Roman Telescope launch
Negative Sentiment: Approximately 319 million insider shares, valued at up to roughly $47 billion to $49 billion, became eligible for sale under the latest lock-up expiration. The added potential supply is the primary near-term selling pressure, with further unlocks still ahead. SpaceX Falls as 319 Million Shares Unlock
Negative Sentiment: Rapid construction of SpaceX’s AI data centers reportedly left some facilities operating for months without backup power, and the company faces a potential $920 million deadline. The issues raise execution, capital-spending, and infrastructure risks for its AI expansion. SpaceX AI Data Center Infrastructure Challenges

Hedge Funds Weigh In On SpaceX

Several hedge funds have recently added to or reduced their stakes in SPCX. Syntax Research Inc. acquired a new stake in SpaceX in the second quarter worth about $26,000. Atwood & Palmer Inc. acquired a new stake in shares of SpaceX during the 2nd quarter worth approximately $29,000. PayPay Securities Corp bought a new stake in shares of SpaceX during the second quarter worth approximately $30,000. Marquette Asset Management LLC acquired a new position in SpaceX in the second quarter valued at approximately $32,000. Finally, Community Bank N.A. acquired a new position in SpaceX in the second quarter valued at approximately $38,000.

SpaceX Stock Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. The company has a market cap of $1.93 trillion and a price-to-earnings ratio of -1,639.44. The company has a 50-day simple moving average of $135.48.

SpaceX (NASDAQ:SPCX – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17. The firm had revenue of $7.81 billion during the quarter. The business’s quarterly revenue was up 91.9% compared to the same quarter last year. Equities analysts predict that SpaceX will post -0.15 EPS for the current year.

SpaceX Company Profile

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Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems, serving commercial, government and scientific customers.

SpaceX’s principal products include the Falcon 9 and Falcon Heavy rockets, which are used to launch satellites, spacecraft and other payloads into orbit. The company also develops the Dragon spacecraft, which supports cargo and crew missions to low Earth orbit, including missions for NASA and other customers.

Through its Starlink business, SpaceX operates a large constellation of low Earth orbit satellites that provides broadband internet service to customers in numerous countries and regions.