SpaceX $SPCX Position Raised by Gables Capital Management Inc.

Gables Capital Management Inc. raised its position in SpaceX (NASDAQ:SPCX) by 78.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 12,328 shares of the company’s stock after acquiring an additional 5,408 shares during the period. Gables Capital Management Inc.’s holdings in SpaceX were worth $1,860,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. SC US Ttgp LTD. bought a new position in shares of SpaceX during the 2nd quarter worth approximately $20,933,621,000. Darsana Capital Partners LP bought a new stake in shares of SpaceX in the second quarter worth $17,335,783,000. K5 Global Advisor LLC bought a new stake in shares of SpaceX in the second quarter worth $6,587,531,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of SpaceX in the third quarter worth $4,224,143,000. Finally, Thrive Capital Management LLC acquired a new position in SpaceX during the second quarter worth $3,231,681,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SPCX shares. Susquehanna raised their target price on shares of SpaceX from $173.00 to $176.00 and gave the company a “neutral” rating in a research report on Wednesday, October 21st. CLSA started coverage on shares of SpaceX in a research report on Monday, September 28th. They set an “outperform” rating and a $250.00 price target on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $235.00 price target on shares of SpaceX in a research report on Monday, September 28th. Guggenheim began coverage on shares of SpaceX in a research note on Friday, August 7th. They set a “buy” rating for the company. Finally, Piper Sandler restated a “neutral” rating on shares of SpaceX in a report on Wednesday, October 21st. Four research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $243.60.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX will compete for up to $10 billion in NASA lunar-base contracts, adding a potential source of business beyond launches and satellite services. The contracts have not yet been awarded. Article: SpaceX to compete for NASA lunar-base contracts
• Positive Sentiment: SpaceX’s AI-computing plans are attracting investor and analyst attention. Deutsche Bank sees tighter data-center rules potentially benefiting the company by limiting available computing capacity and supporting higher prices; reported AI-computing arrangements could also create a new revenue stream. Article: Deutsche Bank on SpaceX and data-center rules
• Neutral Sentiment: The proposed $24 billion Starbase data center and gas-fired power plant could expand SpaceX’s AI capacity and provide dedicated energy, but it remains a plan rather than an operating asset. Article: SpaceX plans a Starbase data center and gas plant
• Negative Sentiment: The Texas project faces policy uncertainty: Governor-elect Gina Hinojosa has supported pausing new hyperscale data centers, and SpaceX is seeking tax breaks. Delays or restrictions could impede the expansion. Article: Texas AI project faces policy hurdles
• Negative Sentiment: Analysts and commentators have flagged the cost of SpaceX’s AI buildout and energy investments, which could pressure cash flow if revenue growth does not justify the heavy spending. Article: SpaceX’s energy investments and cash-flow risk

Insiders Place Their Bets

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction 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 directly owned 2,472,035 shares of the company’s stock, valued at approximately $379,630,414.95. This represents a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Stock Up 0.7%

Shares of SpaceX stock opened at $143.09 on Wednesday. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64. The company has a market cap of $1.94 trillion and a PE ratio of 550.35. The company has a current ratio of 3.08, a quick ratio of 3.00 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $149.18.

SpaceX (NASDAQ:SPCX) last released its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.10 by $0.25. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The company had revenue of $14.57 billion during the quarter. During the same period in the previous year, the company posted ($0.36) EPS. The company’s quarterly revenue was up 161.4% compared to the same quarter last year. On average, sell-side analysts expect that SpaceX will post 0.19 EPS for the current 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.