Turner Financial Group Inc. Purchases New Position in SpaceX $SPCX

Turner Financial Group Inc. acquired a new stake in SpaceX (NASDAQ:SPCX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,190 shares of the company’s stock, valued at approximately $1,228,000. SpaceX accounts for approximately 1.2% of Turner Financial Group Inc.’s investment portfolio, making the stock its 16th biggest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Syntax Research Inc. purchased a new stake in shares of SpaceX during the 2nd quarter valued at about $26,000. Atwood & Palmer Inc. acquired a new stake in SpaceX during the 2nd quarter valued at approximately $29,000. Marquette Asset Management LLC acquired a new position in SpaceX during the 2nd quarter worth $32,000. Smallwood Wealth Investment Management LLC bought a new stake in SpaceX in the second quarter valued at about $62,000. Finally, Orion Capital Management LLC acquired a new stake in shares of SpaceX during the 2nd quarter valued at approximately $70,000.

SpaceX Stock Down 1.2%

Shares of NASDAQ SPCX opened at $147.95 on Friday. The company has a market capitalization of $1.93 trillion and a PE ratio of -1,643.89. The company’s 50-day moving average is $136.15. SpaceX has a fifty-two week low of $104.83 and a fifty-two week high of $225.64. 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 announced its earnings results 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 company had revenue of $7.81 billion during the quarter. SpaceX’s revenue for the quarter was up 91.9% on a year-over-year basis. On average, sell-side analysts anticipate that SpaceX will post -0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Piper Sandler lowered their price objective on shares of SpaceX from $156.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. JPMorgan Chase & Co. began coverage on SpaceX in a research note on Tuesday, July 7th. They set an “overweight” rating and a $225.00 price objective for the company. Guggenheim initiated coverage on SpaceX in a research report on Friday, August 7th. They issued a “buy” rating on the stock. The Goldman Sachs Group assumed coverage on shares of SpaceX in a research note on Tuesday, July 7th. They set a “buy” rating and a $205.00 target price for the company. Finally, New Street Research raised SpaceX to a “strong-buy” rating in a report on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have issued a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat.com, SpaceX presently has a consensus rating of “Moderate Buy” and an average target price of $221.20.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Investor optimism remains high ahead of a planned Labor Day weekend Falcon 9 launch from Vandenberg. A successful mission would reinforce SpaceX’s launch reliability and market leadership. SpaceX Labor Day weekend rocket launch
• Positive Sentiment: Recent earnings continue to provide a fundamental underpinning: revenue rose roughly 92% year over year to $7.8 billion, while Starlink subscriber growth, connectivity demand and expanding AI-compute revenue fueled bullish views. Some analysts believe SpaceX’s AI infrastructure could become a major long-term growth engine. SpaceX market capitalization and growth outlook
• Positive Sentiment: A reported $10 million bullish options position betting on a recovery toward $175, along with bullish analyst targets, signals continued institutional and speculative interest in SPCX. SpaceX bullish options bet
• Neutral Sentiment: Starship Test 14 is approaching, reportedly with a potential launch window in mid-September. The event could be a meaningful catalyst, but investors are also focused on the risk of delays or another unsuccessful test. SpaceX Starship Test 14
• Negative Sentiment: The Sept. 9 share unlock is the most immediate overhang. Newly eligible insider and early-investor shares could increase supply and create selling pressure after the recent rally. SpaceX share unlock
• Negative Sentiment: Valuation and capital intensity remain significant risks. SpaceX reportedly spent $18.4 billion in one quarter, including $15.8 billion on AI, while remaining GAAP-loss-making. Critics argue that much of the company’s future success is already reflected in its multitrillion-dollar valuation. SpaceX valuation and capital spending analysis

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.