DZ Bank Upgrades SpaceX (NASDAQ:SPCX) to “Strong Sell”

SpaceX (NASDAQ:SPCX) was upgraded by equities researchers at DZ Bank to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Daiwa Securities Group began coverage on shares of SpaceX in a research report on Thursday, July 2nd. They issued a “neutral” rating and a $175.00 target price on the stock. Oppenheimer upped their price target on shares of SpaceX from $190.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. Zacks Research raised SpaceX to a “hold” rating in a research note on Monday, June 15th. Moffett Nathanson assumed coverage on SpaceX in a report on Tuesday, July 7th. They issued a “neutral” rating and a $131.00 price objective on the stock. Finally, Phillip Securities raised SpaceX to a “strong sell” rating in a research note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, SpaceX presently has a consensus rating of “Moderate Buy” and an average price target of $220.20.

SpaceX Price Performance

Shares of NASDAQ SPCX opened at $136.97 on Thursday. SpaceX has a one year low of $104.83 and a one year high of $225.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. The company’s 50 day simple moving average is $142.32. The company has a market capitalization of $1.79 trillion and a PE ratio of -1,521.89.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.17. The business had revenue of $7.81 billion during the quarter. SpaceX’s revenue for the quarter was up 91.9% compared to the same quarter last year. As a group, equities analysts expect that SpaceX will post -0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SpaceX

Several institutional investors have recently added to or reduced their stakes in SPCX. KERR FINANCIAL PLANNING Corp bought a new stake in SpaceX in the 2nd quarter worth $566,000. Burkett Financial Services LLC purchased a new position in shares of SpaceX in the second quarter valued at about $70,000. Dogwood Wealth Management LLC bought a new position in shares of SpaceX during the second quarter valued at about $139,000. Dynamic Advisor Solutions LLC purchased a new stake in shares of SpaceX during the second quarter worth about $3,383,000. Finally, Apella Capital LLC purchased a new stake in shares of SpaceX during the second quarter worth about $452,000.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX successfully launched 29 Starlink satellites and landed the Falcon 9 booster on a drone ship. The mission pushed Starlink toward—and according to Elon Musk, beyond—11,000 satellites in orbit, reinforcing the company’s launch cadence and satellite-internet expansion. SpaceX launches 29 Starlink satellites
• Positive Sentiment: Federal policy targeting 1,000 launches annually by 2030 could create a favorable regulatory and contracting environment for SpaceX. Musk has also outlined an extremely ambitious Starship goal of roughly 10,000 launches per year, highlighting the company’s long-term growth opportunity. Elon Musk on Starship launch targets
• Positive Sentiment: William Blair reiterated a Buy rating, citing SpaceX’s lead in reusable rockets and potential growth from AI-related revenue. A proposed $16.8 billion chip-factory venture with Tesla could also support SpaceX’s computing and AI ambitions. William Blair reiterates Buy

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.