SpaceX (NASDAQ:SPCX) Shares Up 1.2% – Here’s What Happened

SpaceX (NASDAQ:SPCX) traded up 1.2% during mid-day trading on Friday. The company traded as high as $166.38 and last traded at $162.57. Approximately 92,337,164 shares were traded during trading, a decline of 10% from the average session volume of 102,438,719 shares. The stock had previously closed at $160.57.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: The spectrum acquisition could improve indoor and nationwide coverage for Starlink Mobile, strengthen SpaceX’s direct-to-device strategy and create a new wireless revenue opportunity. The deal remains subject to final FCC approval. Reuters spectrum acquisition article
• Positive Sentiment: The FCC approved SpaceX’s plan for up to 15,000 additional Starlink satellites for mobile and direct-to-device connectivity, removing a potentially important regulatory hurdle. FCC approval article
• Positive Sentiment: Analyst support added to the bullish narrative. TD Cowen reaffirmed a Buy rating with a $200 target, while Barclays initiated coverage with a Buy rating and a $254 target; other analysts cited Starlink and AI infrastructure as long-term growth drivers. Barclays SpaceX price target article
• Positive Sentiment: The successful return of NASA’s Crew-12 astronauts after 237 days in orbit reinforces SpaceX’s operational reliability and its role in NASA’s commercial crew program. NASA Crew-12 return article
• Neutral Sentiment: SpaceX is reportedly exploring roughly $40 billion in financing to purchase Nvidia chips and expand AI data-center capacity. The opportunity could diversify revenue, but the financing terms and investment returns remain uncertain. AI chip financing article
• Negative Sentiment: Up to approximately 319 million insider shares became eligible for sale, creating a potential increase in supply and short-term selling pressure. SpaceX insider share unlock article

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SPCX. Stifel Nicolaus initiated coverage on shares of SpaceX in a research report on Tuesday, July 7th. They set a “buy” rating and a $190.00 price objective on the stock. Cfra started coverage on shares of SpaceX in a research report on Friday, June 12th. They issued a “sell” rating and a $115.00 target price for the company. CLSA initiated coverage on shares of SpaceX in a research note on Monday, September 28th. They set an “outperform” rating and a $250.00 target price for the company. Raymond James Financial cut SpaceX from a “strong-buy” rating to a “strong sell” rating in a report on Friday, August 7th. Finally, Citigroup lowered SpaceX from a “buy” rating to a “sell” rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $219.77.

SpaceX Stock Performance

The firm’s 50-day simple moving average is $143.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12. The firm has a market capitalization of $2.14 trillion and a PE ratio of -1,806.33.

SpaceX (NASDAQ:SPCX) last announced its 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 0.09 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SPCX. Riversedge Advisors LLC purchased a new stake in SpaceX in the 3rd quarter worth $1,767,000. Wedmont Private Capital purchased a new stake in shares of SpaceX during the third quarter worth about $20,612,000. Dale Q Rice Investment Management Ltd bought a new stake in SpaceX during the 3rd quarter valued at approximately $437,000. Paragon Capital Management Ltd purchased a new position in SpaceX in the 3rd quarter worth approximately $334,000. Finally, Gerald Baker Financial Group LLC bought a new position in SpaceX in the 3rd quarter worth approximately $500,000.

About SpaceX

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.