3,952 Shares in SpaceX $SPCX Acquired by Greenfield Seitz Capital Management LLC

Greenfield Seitz Capital Management LLC purchased a new position in SpaceX (NASDAQ:SPCX – Free Report) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 3,952 shares of the company’s stock, valued at approximately $596,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Syntax Research Inc. purchased a new position in SpaceX during the second quarter valued at $26,000. Atwood & Palmer Inc. bought a new stake in SpaceX in the second quarter worth $29,000. PayPay Securities Corp purchased a new stake in shares of SpaceX in the second quarter worth $30,000. Marquette Asset Management LLC purchased a new stake in shares of SpaceX in the second quarter worth $32,000. Finally, Hickory Point Bank & Trust bought a new position in shares of SpaceX during the third quarter valued at $30,000.

SpaceX Trading Up 1.2%

SPCX stock opened at $136.37 on Tuesday. The company has a 50 day simple moving average of $149.55. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64. The company has a market cap of $1.80 trillion and a PE ratio of 524.50.

SpaceX (NASDAQ:SPCX – Get Free Report) last posted its earnings results on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.25. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The business had revenue of $14.57 billion during the quarter. During the same period in the previous year, the business posted ($0.36) EPS. The firm’s revenue for the quarter was up 161.4% on a year-over-year basis. On average, research analysts predict that SpaceX will post 0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. DZ Bank assumed coverage on SpaceX in a research report on Friday, August 21st. They issued a “sell” rating and a $100.00 price target for the company. Argus raised shares of SpaceX from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Friday, August 7th. Royal Bank Of Canada reissued an “outperform” rating on shares of SpaceX in a research report on Monday, October 19th. Wells Fargo & Company raised their price objective on shares of SpaceX from $214.00 to $274.00 and gave the company an “overweight” rating in a research note on Wednesday, October 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of SpaceX in a report on Wednesday, October 21st. Four research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $244.97.

Check Out Our Latest Research Report on SpaceX

More SpaceX News

Here are the key news stories impacting SpaceX this week:

  • Positive Sentiment: Boost Mobile talks are the primary catalyst. SpaceX is reportedly discussing either acquiring Boost Mobile or using its network. The deal could provide customers, billing infrastructure and retail distribution, accelerating Starlink’s ambitions to become a major wireless provider. Reuters article
  • Positive Sentiment: Strong operating momentum supports the bullish case. Recent reports highlighted $7.6 billion in third-quarter super-intelligence revenue, 13.6 million Starlink subscribers and a 5% sequential increase in consumer average revenue per user. Management also targets substantial expansion of AI-computing capacity through 2027. Seeking Alpha article
  • Positive Sentiment: The wireless strategy could broaden SpaceX’s growth profile. Investors see a potential fourth major U.S. mobile operator and an additional revenue engine beyond rockets and satellite broadband. The reports also indicate that several established carriers’ shares weakened on concerns about increased competition. TechCrunch article

Insider Activity

In related news, COO Gwynne Shotwell sold 342,170 shares of the stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the sale, the chief operating officer directly owned 2,472,035 shares of the company’s stock, valued at $379,630,414.95. This trade represents a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Company Profile

(Free Report)

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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Institutional Ownership by Quarter for SpaceX (NASDAQ:SPCX)

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