SpaceX (NASDAQ:SPCX) Stock Price Up 7.6% – Here’s What Happened

SpaceX (NASDAQ:SPCX)’s stock price rose 7.6% during mid-day trading on Monday. The stock traded as high as $172.47 and last traded at $171.09. Approximately 133,050,603 shares were traded during mid-day trading, an increase of 29% from the average session volume of 103,178,633 shares. The stock had previously closed at $158.96.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX is reportedly seeking regulatory changes that would streamline rocket licensing and help the United States reach as many as 1,000 launches annually by 2030. Faster approvals could support higher launch volume and revenue growth while retaining safety reviews. FAA Moves to Fast-Track Launches
• Positive Sentiment: Investors are encouraged by SpaceX’s reported plans to buy Nvidia chips and build AI computing capacity, potentially creating a large new revenue stream from renting orbital or ground-based compute. Jim Cramer estimated the opportunity could eventually generate several billion dollars in monthly revenue, although that forecast is speculative. SpaceX AI Compute Opportunity
• Positive Sentiment: Recent operating milestones continue to strengthen the growth narrative: Starship Flight 14 reached low Earth orbit and deployed Starlink satellites, while Crew-13 reportedly set a NASA speed record reaching the International Space Station. Starlink also surpassed 12 million subscribers, supporting recurring connectivity revenue.
• Positive Sentiment: Morgan Stanley reiterated a $300 price target and an overweight view, arguing that SpaceX looks inexpensive relative to its expected growth, particularly its AI-compute potential. The bullish research helped drive renewed investor interest. Morgan Stanley SpaceX View

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of SpaceX in a research report on Friday, September 11th. New Street Research raised shares of SpaceX to a “strong-buy” rating in a research note on Thursday, June 11th. Roth Capital upgraded shares of SpaceX to a “buy” rating in a report on Monday, June 22nd. Cfra initiated coverage on shares of SpaceX in a research report on Friday, June 12th. They set a “sell” rating and a $115.00 target price on the stock. Finally, Susquehanna boosted their price target on shares of SpaceX from $144.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.76.

SpaceX Price Performance

The stock has a market cap of $2.27 trillion and a price-to-earnings ratio of -1,910.22. The business has a fifty day moving average price of $141.88. The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29.

SpaceX (NASDAQ:SPCX) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17. The firm 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, sell-side analysts forecast that SpaceX will post 0.09 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of SpaceX

Several hedge funds and other institutional investors have recently made changes to their positions in SPCX. SC US Ttgp LTD. acquired a new stake in shares of SpaceX in the 2nd quarter worth $20,933,621,000. Darsana Capital Partners LP acquired a new position in SpaceX during the 2nd quarter valued at about $17,335,783,000. K5 Global Advisor LLC purchased a new stake in SpaceX in the second quarter valued at about $6,587,531,000. State Street Corp purchased a new stake in SpaceX in the second quarter valued at about $1,858,329,000. Finally, Dragoneer Investment Group LLC acquired a new stake in SpaceX in the second quarter worth about $1,366,880,000.

SpaceX Company Profile

Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.