SpaceX (NASDAQ:SPCX) Shares Down 3.3% – What’s Next?

SpaceX (NASDAQ:SPCX)’s share price fell 3.3% during trading on Wednesday . The stock traded as low as $110.35 and last traded at $112.55. 53,063,942 shares changed hands during trading, a decline of 50% from the average session volume of 105,885,297 shares. The stock had previously closed at $116.41.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Large Space Force contract supports revenue visibility: SpaceX won approximately $1.6 billion in U.S. Space Force task orders covering 18 Falcon 9 launches through 2027. The award strengthens its national-security backlog and demonstrates continued demand for its launch services. SpaceX gets $1.6 billion US Space Force order
• Positive Sentiment: Starlink and strategic government backing provide growth catalysts: Reports highlighted a successful demonstration of next-generation Starlink V3 satellites, with Elon Musk calling the technology a “gamechanger.” NASA leadership also publicly backed SpaceX’s role in lunar exploration and orbital AI initiatives. Starlink V3 demonstration
• Neutral Sentiment: Tesla merger speculation remains a significant uncertainty: The Wall Street Journal reported that Tesla may sell or separate its China business to facilitate a potential combination with SpaceX. However, Musk dismissed the report as “absurdly fake news” and said the transaction had never been discussed, reducing the credibility of the near-term catalyst. Tesla weighs sale of China business
• Negative Sentiment: Upcoming share unlock could increase selling pressure: Approximately 911.5 million shares are expected to become tradable on August 6. The potential supply surge is a key reason investors and short sellers are cautious ahead of SpaceX’s first public earnings report on August 4. Morgan Stanley warns of SpaceX share unlock
• Negative Sentiment: Valuation and short interest remain major headwinds: Analysts note that SpaceX’s post-IPO valuation assumes substantial success from Starlink, Starship, and AI investments despite reported quarterly revenue of $4.69 billion and a loss of $1.27 per share. Reported short positions have reached roughly $26 billion, or about 35% of the float, signaling strong bearish positioning. SpaceX short volume ahead of earnings

Analyst Upgrades and Downgrades

SPCX has been the subject of several recent research reports. Cfra initiated coverage on shares of SpaceX in a research report on Friday, June 12th. They issued a “sell” rating and a $115.00 price objective for the company. KeyCorp restated a “sector weight” rating on shares of SpaceX in a research note on Tuesday. Roth Capital raised shares of SpaceX to a “buy” rating in a report on Monday, June 22nd. New Street Research raised shares of SpaceX to a “strong-buy” rating in a research note on Thursday, June 11th. Finally, Needham & Company LLC boosted their price objective on shares of SpaceX from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $230.50.

SpaceX Stock Down 2.5%

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL acquired a new stake in shares of SpaceX in the 2nd quarter valued at about $181,000. Beacon Investment Advisory Services Inc. acquired a new position in SpaceX in the second quarter worth about $174,000. Teamwork Financial Advisors LLC acquired a new position in SpaceX in the second quarter worth about $8,027,000. Cooper Financial Group bought a new stake in SpaceX in the second quarter valued at about $950,000. Finally, Ebert Capital Management Inc. acquired a new stake in SpaceX during the second quarter valued at approximately $647,000.

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.