Finivi Inc. purchased a new position in SpaceX (NASDAQ:SPCX – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,898 shares of the company’s stock, valued at approximately $1,008,000.
Other hedge funds have also recently made changes to their positions in the company. Atwood & Palmer Inc. bought a new position in SpaceX during the second quarter valued at approximately $29,000. Burkett Financial Services LLC bought a new stake in SpaceX in the 2nd quarter worth approximately $70,000. Contravisory Investment Management Inc. purchased a new stake in SpaceX during the 2nd quarter valued at $73,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of SpaceX during the 2nd quarter valued at $89,000. Finally, Beaird Harris Wealth Management LLC purchased a new position in shares of SpaceX in the 2nd quarter worth $120,000.
SpaceX Price Performance
Shares of NASDAQ:SPCX opened at $133.11 on Monday. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64. The firm’s 50 day moving average price is $143.35. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29.
Trending Headlines about SpaceX
Here are the key news stories impacting SpaceX this week:
- Positive Sentiment: Lockup pressure was less severe than feared. Approximately 911.5 million shares became eligible for trading, more than doubling SpaceX’s public float. However, the stock remained resilient, suggesting that selling may have been largely anticipated and that existing shareholders and retail investors were willing to support the shares. SpaceX’s stock is having one of its best days ever with the first lockup expiration now behind it
- Positive Sentiment: Analysts turned more constructive. Argus upgraded SpaceX to Buy and set a $160 price target, citing accelerating AI revenue, cloud contracts and a potential payback period of less than one year for new AI spending. JPMorgan also raised its target, reinforcing the bullish view on SpaceX’s compute opportunity. SpaceX Stock Just Scored a New Buy Rating
- Positive Sentiment: Quarterly growth remains impressive. SpaceX reported revenue of $7.81 billion, up 91.9% year over year, and a smaller-than-expected loss of $0.09 per share. Reports also highlighted $20.8 billion of combined AI cloud contracts, $2.56 billion in AI revenue and continued profitability at Starlink. SpaceX Signed $14.1 Billion of Cloud Contracts in a Single Quarter
- Positive Sentiment: AI infrastructure plans are expanding. SpaceX’s partnership with Nvidia to deploy next-generation hardware in terrestrial and orbital data centers, along with the planned $16.8 billion Terafab chip factory with Tesla, strengthens the company’s long-term AI and compute narrative. SpaceX’s Terafab will rely on natural gas power plants
- Neutral Sentiment: Speculation about a SpaceX-Tesla merger or tracking-stock structure added attention but remains unconfirmed. Jefferies characterized the possibility as uncertain rather than an immediate catalyst. Jefferies weighs in on SpaceX-Tesla merger speculation
- Negative Sentiment: Risks remain substantial. SpaceX is committing roughly $15.8 billion of quarterly capital spending to AI and remains GAAP-loss-making. Additional staged unlocks through December could create further supply, while concerns about contract cancellations, valuation and the execution of Starlink Mobile continue to limit investor conviction.
Wall Street Analysts Forecast Growth
Several analysts recently commented on SPCX shares. Piper Sandler cut their price objective on SpaceX from $156.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday. HSBC began 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. Benchmark began coverage on shares of SpaceX in a research note on Monday, June 22nd. They issued a “buy” rating on the stock. Evercore began coverage on shares of SpaceX in a report on Tuesday, July 14th. They issued an “outperform” rating and a $230.00 price objective on the stock. Finally, Zacks Research upgraded shares of SpaceX to a “hold” rating in a research report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $227.31.
Check Out Our Latest Analysis on SpaceX
SpaceX 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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