SpaceX (NASDAQ:SPCX) Stock Price Down 1.2% – Time to Sell?

SpaceX (NASDAQ:SPCX)’s share price traded down 1.2% during mid-day trading on Friday . The stock traded as low as $147.32 and last traded at $147.95. 48,565,585 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 104,831,750 shares. The stock had previously closed at $149.74.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Analysts and investors continue to point to strong operating momentum. SpaceX reported second-quarter revenue of approximately $7.8 billion, up 92% year over year, while Starlink added 1.7 million subscribers. Coverage also cited rapid growth in AI and connectivity revenue, strengthening the thesis that SpaceX is becoming more than a launch company. SpaceX Briefly Reclaims $2 Trillion Market Cap
• Positive Sentiment: SpaceX’s AI-computing business is attracting customers reportedly including Google and Anthropic, while management is investing aggressively in data-center capacity. Bulls view the space-connectivity-AI combination as a potential long-term growth engine. Elon Musk Says Google and Anthropic Turned to SpaceX for AI Compute
• Positive Sentiment: Investors are positioning ahead of Starship Test 14, expected in the coming weeks. A successful test could support SpaceX’s plans for reusable heavy-lift rockets and future satellite, communications and orbital-computing businesses. SpaceX Starship Test 14 Could Be Days Away
• Neutral Sentiment: A planned Falcon 9 launch from Vandenberg over the Labor Day weekend is receiving broad public attention, but the routine mission is unlikely to materially change SpaceX’s financial outlook. SpaceX Vandenberg Labor Day Weekend Liftoff
• Neutral Sentiment: Analyst sentiment is divided. Oppenheimer reportedly raised its target to $280 based on AI growth, while other commentators argue that much of SpaceX’s success is already reflected in its valuation.
• Negative Sentiment: The Sept. 9 share unlock is the most immediate overhang. Newly eligible insider and employee shares could increase supply and create selling pressure after the recent rally. All Eyes Are on SpaceX’s Next Share Unlock
• Negative Sentiment: SpaceX reportedly spent $18.4 billion in one quarter, including $15.8 billion on AI. While this could accelerate growth, it raises capital-spending, execution and cash-flow risks, particularly as the company remains GAAP-loss-making. SpaceX Spent $18.4 Billion in a Single Quarter
• Negative Sentiment: Commentary also flags regulatory and community opposition surrounding proposed AI data centers, as well as uncertainty over ambitious revenue projections. These issues reinforce concerns that SPCX’s valuation leaves limited room for execution disappointments.

Analyst Ratings Changes

SPCX has been the subject of a number of research analyst reports. Wall Street Zen raised SpaceX from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research raised shares of SpaceX to a “hold” rating in a research note on Monday, June 15th. Mizuho assumed coverage on SpaceX in a research report on Tuesday, July 7th. They set an “outperform” rating and a $200.00 price target on the stock. Cfra started coverage on SpaceX in a research note on Friday, June 12th. They set a “sell” rating and a $115.00 target price for the company. Finally, Clear Str upgraded shares of SpaceX to a “strong-buy” rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have assigned a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat.com, SpaceX has an average rating of “Moderate Buy” and a consensus target price of $221.20.

SpaceX Trading Down 1.2%

The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. The stock’s 50 day moving average is $136.26. The stock has a market cap of $1.93 trillion and a PE ratio of -1,643.89.

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17. The business 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. As a group, sell-side analysts expect that SpaceX will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On SpaceX

A number of large investors have recently modified their holdings of SPCX. Syntax Research Inc. bought a new position in shares of SpaceX in the 2nd quarter valued at about $26,000. Atwood & Palmer Inc. acquired a new position in SpaceX during the second quarter valued at approximately $29,000. PayPay Securities Corp bought a new position in SpaceX in the second quarter valued at approximately $30,000. Marquette Asset Management LLC acquired a new position in shares of SpaceX during the 2nd quarter worth approximately $32,000. Finally, POM Investment Strategies LLC bought a new stake in shares of SpaceX during the 2nd quarter worth approximately $39,000.

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.