SpaceX (NASDAQ:SPCX) Trading Up 9.6% – What’s Next?

SpaceX (NASDAQ:SPCX) was up 9.6% during mid-day trading on Wednesday . The stock traded as high as $149.60 and last traded at $146.15. Approximately 165,364,188 shares were traded during trading, an increase of 43% from the average daily volume of 115,958,148 shares. The stock had previously closed at $133.29.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: CEO Elon Musk said SpaceX’s AI revenue could surpass revenue from all of its other space-related businesses as soon as September 2026. He also suggested AI could help SpaceX generate as much as $500 billion in revenue in 2028, although these are forward-looking targets rather than current results. Elon Musk says SpaceX’s AI revenue will outpace all its other products by next month
• Positive Sentiment: SpaceX unveiled Grok 4.6, with Musk calling it the leading AI model on intelligence, speed and cost. Investors are increasingly viewing Grok, Cursor and SpaceX’s planned computing infrastructure as a potentially high-margin software business. SpaceX Just Unveiled Grok 4.6
• Positive Sentiment: Morgan Stanley argued that investors may be undervaluing SpaceX’s AI operations and cited significant upside if the company demonstrates that Grok and Cursor can work together. The bullish thesis includes a potential $600 valuation scenario, but it depends on substantial execution and revenue growth. Morgan Stanley Warns Investors Underestimating SpaceX’s AI Unit
• Positive Sentiment: A successful Falcon 9 launch deployed 24 Starlink satellites, while Musk reported 13 million consumer subscribers and 22 million monthly Starlink Mobile users. The launch reinforces SpaceX’s recurring connectivity growth story. Why SpaceX Is Getting a Stock Bounce After Starlink Satellite Launch
• Positive Sentiment: Short interest reportedly declined sharply to about 11% of publicly traded shares from 34% the previous week, suggesting that short covering helped amplify the rebound. SpaceX short sellers are running out of bullets as stock rebounds
• Neutral Sentiment: Norway’s sovereign wealth fund disclosed an approximately $1.2 billion SpaceX stake, providing an institutional-validation signal, though the disclosure does not necessarily represent a new purchase.
• Negative Sentiment: Investors still face dilution and selling risks from additional insider share unlocks, including a potential $42.5 billion supply event on August 21. SpaceX’s ambitious AI expansion also requires heavy capital spending, and many bullish forecasts rely on unproven future revenue.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SPCX shares. Royal Bank Of Canada cut SpaceX from an “outperform” rating to a “hold” rating in a research note on Friday, August 7th. Phillip Securities raised SpaceX to a “strong sell” rating in a research note on Friday, July 31st. Barclays upgraded SpaceX from an “underweight” rating to an “overweight” rating in a report on Monday, June 22nd. Benchmark started coverage on SpaceX in a research report on Monday, June 22nd. They set a “buy” rating on the stock. Finally, Wells Fargo & Company lowered their price target on SpaceX from $230.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $229.00.

SpaceX Trading Up 9.7%

The business’s fifty day moving average price is $143.01. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29.

SpaceX (NASDAQ:SPCX) last issued 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 business’s quarterly revenue was up 91.9% compared to the same quarter last year. On average, equities analysts forecast that SpaceX will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of SpaceX

A number of institutional investors have recently modified their holdings of SPCX. Atwood & Palmer Inc. bought a new position in shares of SpaceX during the 2nd quarter worth approximately $29,000. Marquette Asset Management LLC purchased a new position in SpaceX in the second quarter worth $32,000. Burkett Financial Services LLC acquired a new position in shares of SpaceX during the second quarter worth $70,000. Contravisory Investment Management Inc. acquired a new position in shares of SpaceX during the second quarter worth $73,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of SpaceX during the 2nd quarter valued at $89,000.

SpaceX Company Profile

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.