SpaceX (NASDAQ:SPCX) Now Covered by Barclays

Research analysts at Barclays initiated coverage on shares of SpaceX (NASDAQ:SPCX) in a report issued on Friday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $254.00 price target on the stock. Barclays‘s price target would suggest a potential upside of 56.24% from the stock’s previous close.

Several other brokerages also recently weighed in on SPCX. Clear Str raised shares of SpaceX to a “strong-buy” rating in a report on Tuesday, July 7th. Oppenheimer increased their price objective on shares of SpaceX from $250.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 2nd. Stifel Nicolaus began 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. Erste Group Bank started coverage on shares of SpaceX in a research note on Thursday. They set a “hold” rating on the stock. Finally, Roth Capital raised shares of SpaceX to a “buy” rating in a report on Monday, June 22nd. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $219.77.

SpaceX Trading Up 1.2%

Shares of SPCX stock opened at $162.57 on Friday. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. The stock has a market capitalization of $2.14 trillion and a PE ratio of -1,806.33. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. The firm’s 50 day simple moving average is $145.03.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.17. The business had revenue of $7.81 billion for the quarter. The business’s revenue was up 91.9% on a year-over-year basis. As a group, equities analysts forecast that SpaceX will post 0.09 earnings per share for the current year.

Insider Transactions at SpaceX

In other 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 sale, the chief operating officer 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hedge Funds Weigh In On SpaceX

Several institutional investors have recently bought and sold shares of the stock. Wedbush Securities Inc. bought a new position in shares of SpaceX during the 2nd quarter valued at about $5,094,000. Hyperion Asset Management Ltd bought a new stake in shares of SpaceX in the second quarter worth about $201,137,000. Apella Capital LLC increased its holdings in shares of SpaceX by 218.2% in the third quarter. Apella Capital LLC now owns 8,424 shares of the company’s stock worth $1,412,000 after purchasing an additional 5,777 shares during the last quarter. K5 Global Advisor LLC purchased a new stake in shares of SpaceX in the second quarter worth about $6,587,531,000. Finally, Turner Financial Group Inc. purchased a new stake in shares of SpaceX in the second quarter worth about $1,228,000.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: The spectrum purchase—reported at roughly $8 billion by some outlets, although the exact price was not disclosed—could give Starlink Mobile stronger coverage indoors and in dense urban areas where satellites are less effective. The deal also positions SpaceX to compete more directly with AT&T, Verizon and T-Mobile. SpaceX’s low-band spectrum deal gives Starlink Mobile a terrestrial foothold
• Positive Sentiment: Analyst support added to the bullish reaction. Barclays initiated coverage with a Buy rating and a $254 target, while TD Cowen reaffirmed Buy with a $200 target; other analysts highlighted the hybrid satellite-and-terrestrial network strategy. Two Reasons SpaceX Stock Is Jumping Higher Today
• Positive Sentiment: The FCC’s approval of up to 15,000 next-generation Starlink satellites strengthens the company’s long-term direct-to-device opportunity. Investors are also valuing SpaceX’s reported AI-computing demand and potential Nvidia chip purchases as additional growth engines. SpaceX Gets Green Light for 15,000 Starlink Satellites
• Neutral Sentiment: The spectrum transaction remains subject to final FCC approval, and SpaceX still must invest heavily to build a terrestrial network, integrate services and attract wireless customers. The launch of Blue Origin as a future public-company competitor may also increase attention on the space sector. SpaceX Makes Big Play to Become a Wireless Carrier
• Negative Sentiment: Up to approximately $51 billion of insider shares became eligible for sale, creating a potential supply overhang and volatility risk after the recent rally. SpaceX Insider Shares Unlock
• Negative Sentiment: Reports that SpaceX may borrow $40 billion to purchase Nvidia chips continue to raise concerns about leverage, execution and the risk of spending aggressively on an unproven AI infrastructure business despite its substantial cash holdings. SpaceX in Talks to Raise $40 Billion in Loans

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.