SpaceX (NASDAQ:SPCX) Short Interest Up ∞ in June

SpaceX (NASDAQ:SPCX) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 23,341,117 shares, an increase of ∞ from the May 31st total of 0 shares. Based on an average daily volume of 69,191,993 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the shares of the company are short sold.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX is set to join the Nasdaq-100 on July 7, which should force index funds and ETFs to buy shares and could create substantial near-term demand. SpaceX Joins the Nasdaq-100 on July 7. What It Means for Index Fund Investors
• Positive Sentiment: Wedbush initiated coverage with a Buy/Outperform view and a $190 price target, arguing SpaceX is evolving into a hyperscaler-like platform with Starlink, Starship, and AI-related businesses. SpaceX: A deeper dive into the valuation metrics
• Positive Sentiment: Multiple analysts are still bullish despite volatility, with one note highlighting a $190 target and another pointing to Starlink’s growth as a long runway for revenue expansion. Dan Ives Says SpaceX’s ‘Demand Flywheel’ is Just Getting Started
• Neutral Sentiment: Starlink reportedly reached 10 million subscribers, reinforcing the growth story, but the market still wants proof that this scale can translate into durable profits. Starlink Has 10 Million Subscribers, and It’s Just Getting Started
• Neutral Sentiment: SpaceX showed investors a handset-like AI device prototype tied to xAI, but Elon Musk later denied the Wall Street Journal report, leaving the significance of the product unclear. SpaceX Showed Investors Prototype of Elon Musk’s New AI Device
• Negative Sentiment: Short interest has surged to unusually high levels, with traders betting against SpaceX despite the recent rally; that raises volatility and reflects skepticism about the valuation. Short sellers boost bets against SpaceX and it’s already costing them
• Negative Sentiment: Several reports warned that SpaceX’s valuation remains extremely rich, with concerns about a sales multiple near 100x and looming lockup expirations adding pressure. SpaceX Stock Falls After Firm Calls Valuation ‘Catastrophic’

SpaceX Price Performance

NASDAQ:SPCX traded up $1.62 during trading hours on Thursday, hitting $159.16. 22,361,306 shares of the company’s stock traded hands, compared to its average volume of 148,741,484. SpaceX has a 52 week low of $147.11 and a 52 week high of $225.64.

SpaceX (NASDAQ:SPCX) last announced its earnings results on Thursday, May 7th. The company reported ($1.27) earnings per share for the quarter. The business had revenue of $4.69 billion during the quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on SPCX. Barclays upgraded SpaceX from an “underweight” rating to an “overweight” rating in a research note on Monday, June 22nd. Susquehanna started coverage on SpaceX in a research report on Tuesday, June 23rd. They set a “neutral” rating and a $170.00 price target on the stock. Seaport Research Partners raised shares of SpaceX to a “buy” rating in a report on Monday, June 22nd. KeyCorp initiated coverage on shares of SpaceX in a research report on Monday, June 22nd. They issued a “sector weight” rating for the company. Finally, Daiwa Securities Group initiated coverage on shares of SpaceX in a report on Thursday. They set a “neutral” rating and a $175.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.12.

SpaceX Company 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.