Castle Rock Wealth Management LLC Invests $2.31 Million in SpaceX $SPCX

Castle Rock Wealth Management LLC purchased a new stake in SpaceX (NASDAQ:SPCX) in the 2nd quarter, HoldingsChannel reports. The fund purchased 14,661 shares of the company’s stock, valued at approximately $2,310,000.

A number of other large investors also recently modified their holdings of SPCX. Dynamic Advisor Solutions LLC bought a new stake in SpaceX during the second quarter worth $3,383,000. Assenagon Asset Management S.A. purchased a new stake in SpaceX in the 2nd quarter worth approximately $2,502,000. Apella Capital LLC bought a new stake in shares of SpaceX during the 2nd quarter valued at about $452,000. Elevation Wealth Partners LLC purchased a new position in SpaceX in the 2nd quarter worth approximately $153,000. Finally, KERR FINANCIAL PLANNING Corp bought a new position in SpaceX in the second quarter valued at $566,000.

Analyst Ratings Changes

Several research firms recently commented on SPCX. Morgan Stanley reaffirmed an “overweight” rating on shares of SpaceX in a report on Friday, July 24th. KGI Securities cut shares of SpaceX from an “outperform” rating to a “hold” rating in a report on Monday, June 22nd. Wolfe Research reaffirmed an “outperform” rating on shares of SpaceX in a report on Wednesday. Zacks Research upgraded shares of SpaceX to a “hold” rating in a research note on Monday, June 15th. Finally, HSBC assumed coverage on SpaceX in a research report on Thursday, July 23rd. They set a “hold” rating and a $115.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, SpaceX currently has an average rating of “Moderate Buy” and an average price target of $229.71.

SpaceX Trading Up 6.1%

SPCX stock opened at $114.92 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.22 and a debt-to-equity ratio of 0.83. SpaceX has a twelve month low of $104.83 and a twelve month high of $225.64.

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.17. The company had revenue of $7.81 billion during the quarter. The company’s revenue was up 91.9% compared to the same quarter last year. As a group, equities research analysts expect that SpaceX will post -0.64 earnings per share for the current year.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: The 911.5 million-share unlock was absorbed relatively well. Shares held up even as roughly $100 billion of insider and early-investor stock became eligible for trading, suggesting demand from retail and institutional investors may be offsetting potential selling. SpaceX Stock Defies Lock-up Fears
• Positive Sentiment: Terafab gives SpaceX another major growth narrative. SpaceX and Tesla confirmed an initial $16.8 billion investment in an AI-chip factory in Texas. SpaceX also plans dedicated power plants and battery storage for the facility, potentially expanding its AI-computing and semiconductor capabilities. SpaceX says Terafab to be built in Texas
• Positive Sentiment: Analysts and prominent investors remain bullish. Bernstein raised its price target, while JPMorgan, Needham, Cantor Fitzgerald, and others cited potential monetization of AI, Starlink, and cloud-computing investments. Cathie Wood’s ARK funds also reportedly bought shares during the selloff. Bernstein lifts SpaceX price target
• Neutral Sentiment: Recent earnings were operationally strong but financially expensive. Second-quarter revenue rose 91.9% to $7.81 billion, beating estimates, while Starlink subscribers reached 12 million and AI revenue grew rapidly. However, SpaceX reported a loss and spent $18.4 billion on capital expenditures, including $15.8 billion on AI infrastructure. SpaceX beats Q2 estimates
• Negative Sentiment: Supply and valuation risks remain significant. Additional lock-up expirations could make more than 4 billion shares tradable by year-end, while heavy cash burn, customer concentration, uncertain AI returns, and a very high valuation could renew selling pressure.

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.