D Orazio & Associates Inc. purchased a new stake in SpaceX (NASDAQ:SPCX – Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 163,740 shares of the company’s stock, valued at approximately $24,702,000. SpaceX comprises 2.7% of D Orazio & Associates Inc.’s portfolio, making the stock its 10th biggest position.
Several other hedge funds have also recently bought and sold shares of the stock. Syntax Research Inc. bought a new stake in shares of SpaceX in the second quarter valued at about $26,000. Atwood & Palmer Inc. acquired a new stake in SpaceX in the 2nd quarter valued at about $29,000. PayPay Securities Corp bought a new position in shares of SpaceX during the 2nd quarter worth approximately $30,000. Marquette Asset Management LLC bought a new position in SpaceX during the second quarter worth $32,000. Finally, Hickory Point Bank & Trust acquired a new position in SpaceX in the 3rd quarter valued at about $30,000.
Analysts Set New Price Targets
Several research analysts have weighed in on SPCX shares. Seaport Research Partners cut SpaceX from a “buy” rating to a “neutral” rating in a research report on Friday, August 7th. DZ Bank initiated coverage on SpaceX in a research report on Friday, August 21st. They set a “sell” rating and a $100.00 price objective on the stock. Phillip Securities upgraded shares of SpaceX from a “strong sell” rating to a “strong-buy” rating in a report on Friday, October 23rd. Susquehanna lifted their price objective on SpaceX from $173.00 to $176.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of SpaceX in a research report on Wednesday, October 21st. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, SpaceX presently has an average rating of “Moderate Buy” and a consensus price target of $243.60.
Get Our Latest Stock Report on SpaceX
SpaceX Trading Up 0.7%
SpaceX stock opened at $143.09 on Wednesday. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64. The company has a market capitalization of $1.94 trillion and a price-to-earnings ratio of 550.35. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00. The firm has a fifty day simple moving average of $149.18.
SpaceX (NASDAQ:SPCX – Get Free Report) last released its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.25. The business had revenue of $14.57 billion during the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. SpaceX’s revenue for the quarter was up 161.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.36) EPS. On average, research analysts forecast that SpaceX will post 0.19 EPS for the current year.
Insider Transactions at SpaceX
In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total value of $52,547,046.90. Following the completion of the sale, the chief operating officer directly owned 2,472,035 shares of the company’s stock, valued at approximately $379,630,414.95. This represents a 12.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Key Headlines Impacting SpaceX
Here are the key news stories impacting SpaceX this week:
- Positive Sentiment: SpaceX will compete for up to $10 billion in NASA lunar-base contracts, adding a potential source of business beyond launches and satellite services. The contracts have not yet been awarded. Article: SpaceX to compete for NASA lunar-base contracts
- Positive Sentiment: SpaceX’s AI-computing plans are attracting investor and analyst attention. Deutsche Bank sees tighter data-center rules potentially benefiting the company by limiting available computing capacity and supporting higher prices; reported AI-computing arrangements could also create a new revenue stream. Article: Deutsche Bank on SpaceX and data-center rules
- Neutral Sentiment: The proposed $24 billion Starbase data center and gas-fired power plant could expand SpaceX’s AI capacity and provide dedicated energy, but it remains a plan rather than an operating asset. Article: SpaceX plans a Starbase data center and gas plant
- Negative Sentiment: The Texas project faces policy uncertainty: Governor-elect Gina Hinojosa has supported pausing new hyperscale data centers, and SpaceX is seeking tax breaks. Delays or restrictions could impede the expansion. Article: Texas AI project faces policy hurdles
- Negative Sentiment: Analysts and commentators have flagged the cost of SpaceX’s AI buildout and energy investments, which could pressure cash flow if revenue growth does not justify the heavy spending. Article: SpaceX’s energy investments and cash-flow risk
SpaceX Profile
Space Exploration Technologies Corp., commonly known as SpaceX, is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles and spacecraft designed to reduce the cost of access to space and support commercial, government and scientific missions. SpaceX’s principal products and services include the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starlink satellite communications network. Falcon rockets are used to launch satellites, cargo and crew, while Dragon spacecraft support transportation to and from low Earth orbit.
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