Platform Technology Partners Acquires 5,178 Shares of SpaceX $SPCX

Platform Technology Partners acquired a new stake in SpaceX (NASDAQ:SPCX) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,178 shares of the company’s stock, valued at approximately $781,000.

Other hedge funds have also recently made changes to their positions in the company. Inscription Capital LLC increased its position in shares of SpaceX by 907.0% during the third quarter. Inscription Capital LLC now owns 84,459 shares of the company’s stock worth $12,741,000 after acquiring an additional 76,072 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in SpaceX by 159.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 618,257 shares of the company’s stock valued at $93,270,000 after acquiring an additional 380,137 shares in the last quarter. Wealth Dimensions Group Ltd. lifted its position in SpaceX by 58.2% in the 3rd quarter. Wealth Dimensions Group Ltd. now owns 3,174 shares of the company’s stock valued at $479,000 after acquiring an additional 1,168 shares in the last quarter. Pathway Financial Advisers LLC bought a new position in SpaceX in the 3rd quarter valued at about $107,000. Finally, Kestra Private Wealth Services LLC boosted its stake in SpaceX by 289.3% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 113,372 shares of the company’s stock valued at $17,103,000 after purchasing an additional 84,252 shares during the last quarter.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Starlink Mobile gains a major technology partner. SpaceX selected Qualcomm to supply 5G infrastructure technology for its planned U.S. wireless network, supporting its effort to expand beyond satellite connectivity and compete with established carriers. Article: SpaceX signs deal with Qualcomm to provide network technology for U.S. mobile service
• Positive Sentiment: Analyst coverage offers a counterpoint to the selloff. China Renaissance initiated coverage with a Buy rating and a $194.20 price target, while a separate valuation update cited potential upside from AI and Starlink growth. These are analyst views, not assurances of future performance. Article: SpaceX Stock Today Has These 2 Positives. The Stock Is Still Falling.
• Neutral Sentiment: A proposed change to U.S. launch rules could benefit SpaceX. The proposal may create a more favorable operating environment, but its eventual impact depends on the final rules and implementation. Article: US proposes space launch rule changes in potential boost for SpaceX
• Negative Sentiment: Election results have raised political and regulatory uncertainty. With Democrats controlling Congress and Texas turning blue, investors fear tougher scrutiny and permitting hurdles for AI data centers, as well as obstacles to SpaceX’s expansion and a potential Tesla merger. Article: SpaceX, Tesla extend losses as midterm results cloud data center, merger outlook
• Negative Sentiment: AI exposure and funding needs are weighing on sentiment. The broader AI-stock retreat is hitting SpaceX as investors question the cost and returns of its large computing buildout. Reports that debt-default insurance costs reached a record high add to concerns about perceived credit risk and financing. Article: Elon Musk’s SpaceX Default Risk Hits Record High as Democratic Sweep Adds to AI Rout

Analyst Upgrades and Downgrades

A number of brokerages have commented on SPCX. KeyCorp reissued a “sector weight” rating on shares of SpaceX in a report on Wednesday, October 21st. Erste Group Bank began coverage on SpaceX in a report on Thursday, October 8th. They issued a “hold” rating on the stock. HSBC reaffirmed a “hold” rating on shares of SpaceX in a research report on Wednesday, October 21st. Seaport Research Partners cut SpaceX from a “buy” rating to a “neutral” rating in a research report on Friday, August 7th. Finally, Guggenheim started coverage on SpaceX in a report on Friday, August 7th. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.60.

Insider Buying and Selling at SpaceX

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

SpaceX Stock Performance

SpaceX stock opened at $123.62 on Friday. SpaceX has a fifty-two week low of $104.83 and a fifty-two week high of $225.64. The stock has a market capitalization of $1.68 trillion and a PE ratio of 475.46. The stock’s 50-day moving average price is $149.32. The company has a current ratio of 3.08, a quick ratio of 3.00 and a debt-to-equity ratio of 0.20.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.25. The business had revenue of $14.57 billion during the quarter. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The company’s revenue for the quarter was up 161.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.36) earnings per share. As a group, analysts predict that SpaceX will post 0.19 EPS for the current fiscal year.

SpaceX Profile

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

SpaceX’s principal products and services include the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starlink satellite communications network. Falcon rockets are used to launch satellites, cargo and crew, while Dragon spacecraft support transportation to and from low Earth orbit.