SpaceX (NASDAQ:SPCX) Trading Up 2.2% – What’s Next?

SpaceX (NASDAQ:SPCX) shot up 2.2% during trading on Friday . The company traded as high as $137.35 and last traded at $136.97. Approximately 78,177,565 shares traded hands during trading, a decline of 31% from the average session volume of 113,584,313 shares. The stock had previously closed at $134.00.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX successfully launched 29 Starlink satellites and landed the Falcon 9 booster on a drone ship. The mission pushed Starlink toward—and according to Elon Musk, beyond—11,000 satellites in orbit, reinforcing the company’s launch cadence and satellite-internet expansion. SpaceX launches 29 Starlink satellites
• Positive Sentiment: Federal policy targeting 1,000 launches annually by 2030 could create a favorable regulatory and contracting environment for SpaceX. Musk has also outlined an extremely ambitious Starship goal of roughly 10,000 launches per year, highlighting the company’s long-term growth opportunity. Elon Musk on Starship launch targets
• Positive Sentiment: William Blair reiterated a Buy rating, citing SpaceX’s lead in reusable rockets and potential growth from AI-related revenue. A proposed $16.8 billion chip-factory venture with Tesla could also support SpaceX’s computing and AI ambitions. William Blair reiterates Buy

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SPCX shares. KGI Securities cut shares of SpaceX from an “outperform” rating to a “hold” rating in a research report on Monday, June 22nd. Morgan Stanley reiterated an “overweight” rating on shares of SpaceX in a research report on Friday, July 24th. UBS Group reissued a “buy” rating and set a $75.00 price target (down from $210.00) on shares of SpaceX in a research note on Monday. Cfra assumed coverage on SpaceX in a report on Friday, June 12th. They set a “sell” rating and a $115.00 price target for the company. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of SpaceX in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $220.20.

SpaceX Trading Up 2.2%

The company has a market capitalization of $1.79 trillion and a P/E ratio of -1,521.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. The business’s 50-day moving average price is $142.80.

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

Institutional Trading of SpaceX

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hyperion Asset Management Ltd acquired a new stake in shares of SpaceX in the second quarter worth $201,137,000. Assenagon Asset Management S.A. acquired a new position in SpaceX during the second quarter valued at $2,502,000. Sage Capital Advisors llc purchased a new stake in SpaceX in the second quarter valued at $3,254,000. Dynamic Advisor Solutions LLC acquired a new stake in SpaceX during the 2nd quarter worth about $3,383,000. Finally, Canvas Wealth Advisors LLC acquired a new stake in SpaceX during the 2nd quarter worth about $2,598,000.

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.