SpaceX (NASDAQ:SPCX) Shares Down 1.4% – Here’s Why

Shares of SpaceX (NASDAQ:SPCX) traded down 1.4% during trading on Monday . The company traded as low as $108.66 and last traded at $113.50. 63,858,974 shares changed hands during trading, a decline of 41% from the average daily volume of 108,357,578 shares. The stock had previously closed at $115.07.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX’s Starship Flight 13 reportedly delivered important progress, including a test of heat-shield durability. The FAA is also considering measures that could accelerate commercial launch approvals, potentially improving SpaceX’s launch cadence and reducing regulatory delays. SpaceX, Blue Origin Could Get Faster Launch Approvals Under FAA Proposal
• Positive Sentiment: ARK Invest’s Cathie Wood continued purchasing SpaceX shares during the selloff, signaling confidence in long-term growth from Starlink, launch services and the company’s broader technology ambitions. Morgan Stanley also suggested the August 4 report could surprise investors. Morgan Stanley Says SpaceX Stock Could Surprise on August 4
• Positive Sentiment: Some analysts and prominent investors maintain very bullish long-term targets, arguing that SpaceX’s reusable-launch infrastructure and Starlink business provide a competitive moat. A potential Tesla–SpaceX technology relationship is another speculative upside catalyst.
• Neutral Sentiment: Investors are awaiting SpaceX’s August 4 earnings release for its first detailed public update on revenue, losses, cash flow, capital spending and Starlink growth. Market expectations reportedly call for approximately $6.9 billion in revenue and a modest per-share loss, making guidance especially important. SpaceX Reports Its First Quarterly Results as a Public Company
• Neutral Sentiment: Amazon’s filing for a 5,105-satellite direct-to-device network raises competitive stakes for Starlink. Amazon’s financial resources make it a credible long-term rival, although SpaceX retains advantages in launch capacity and vertical integration. Amazon’s Satellite Push Raises the Stakes for SpaceX
• Negative Sentiment: The August 6 lock-up expiration could allow as many as 911.5 million shares, valued at roughly $123 billion, to enter the market. The potential influx of insider and early-investor selling is the most immediate pressure on SPCX and could overwhelm demand even if earnings are solid. Jim Cramer Warns About SpaceX’s Lock-Up Expiration
• Negative Sentiment: Bearish analysts continue to cite SpaceX’s elevated valuation, lack of meaningful profits, heavy capital requirements and roughly 30% short interest. These concerns, combined with Amazon’s new competition, leave the stock vulnerable to further volatility if earnings or guidance disappoint.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SPCX shares. Oppenheimer raised their price target on shares of SpaceX from $190.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Wolfe Research initiated coverage on SpaceX in a report on Friday, June 12th. They set an “outperform” rating and a $175.00 target price for the company. Wall Street Zen downgraded SpaceX from a “hold” rating to a “sell” rating in a research report on Saturday. Bank of America started coverage on SpaceX in a research note on Tuesday, July 7th. They issued a “buy” rating and a $235.00 price target on the stock. Finally, Wedbush initiated coverage on SpaceX in a research report on Tuesday, June 30th. They set an “outperform” rating and a $190.00 price target for the company. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $230.50.

SpaceX Stock Down 2.8%

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.27) earnings per share (EPS) for the quarter. The company had revenue of $4.69 billion for the quarter.

Institutional Investors Weigh In On SpaceX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Atwood & Palmer Inc. acquired a new position in SpaceX during the second quarter worth $29,000. Marquette Asset Management LLC purchased a new stake in SpaceX in the 2nd quarter valued at $32,000. Burkett Financial Services LLC acquired a new stake in shares of SpaceX in the 2nd quarter worth $70,000. Contravisory Investment Management Inc. purchased a new position in shares of SpaceX during the 2nd quarter worth $73,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of SpaceX during the 2nd quarter worth $89,000.

About SpaceX

SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.

Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.