SpaceX (NASDAQ:SPCX) Shares Down 2% – Time to Sell?

SpaceX (NASDAQ:SPCX)’s stock price dropped 2% during mid-day trading on Tuesday . The company traded as low as $139.41 and last traded at $143.34. 83,580,791 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 115,023,477 shares. The stock had previously closed at $146.23.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Fresh second-quarter 13F filings showed major investors building sizable SpaceX positions. Nvidia reported more than 122 million shares, while Harvard, Alphabet, Intesa Sanpaolo, and other institutions also disclosed multibillion-dollar stakes—signaling confidence in SpaceX’s long-term potential. Nvidia Holds More Than 122 Million Shares of SPCX Stock After Q2
• Positive Sentiment: Analysts highlighted Starlink V3, direct-to-cell connectivity, and potential orbital data centers as significant growth opportunities. UBS maintained a $210 target, while Morgan Stanley reiterated a $300 target and Bernstein raised its target to $248. SpaceX seen on cusp of Starlink growth surge
• Positive Sentiment: SpaceX signed a 2027 launch agreement with Vietnam’s VinSpace, adding commercial demand for its rideshare services. The company is also scheduled for another Vandenberg launch, reinforcing its high launch cadence. SpaceX Adds New Satellite Customer With 2027 VinSpace Launch Deal
• Neutral Sentiment: SpaceX completed its $60 billion Cursor acquisition ahead of schedule, expanding its AI strategy. The deal could create new revenue opportunities, but investors remain uncertain whether the acquisition will enhance or dilute returns from the profitable launch and Starlink businesses. SpaceX Stock Drops After It Spends $60 Billion to Bolster Its AI Ambitions
• Negative Sentiment: Approximately 319 million additional shares become eligible for sale on August 20 as another lock-up expires. The potential increase in supply is the clearest immediate overhang, particularly after SPCX’s recent rebound. SpaceX shares slip as another 319 million come up for sale
• Negative Sentiment: Bears argue that SpaceX remains dramatically overvalued, with price targets as low as $75 or $10–$30. Critics cite heavy AI investment, execution risks surrounding Starship reusability, customer concentration, and a valuation requiring near-perfect growth. Is SpaceX a $10 Stock?

Analysts Set New Price Targets

Several research analysts recently commented on the company. Roth Capital raised SpaceX to a “buy” rating in a research note on Monday, June 22nd. Royal Bank Of Canada lowered shares of SpaceX from an “outperform” rating to a “hold” rating in a report on Friday, August 7th. Wells Fargo & Company reduced their target price on shares of SpaceX from $230.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, August 5th. Evercore initiated coverage on shares of SpaceX in a research note on Tuesday, July 14th. They issued an “outperform” rating and a $230.00 price target on the stock. Finally, Bank of America assumed coverage on shares of SpaceX in a research note on Tuesday, July 7th. They set a “buy” rating and a $235.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $224.34.

SpaceX Trading Down 2.0%

The stock’s fifty day moving average price is $143.04. The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. The stock has a market cap of $1.87 trillion and a P/E ratio of -1,592.67.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.17. The firm had revenue of $7.81 billion for the quarter. SpaceX’s quarterly revenue was up 91.9% on a year-over-year basis. As a group, analysts forecast that SpaceX will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On SpaceX

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