SpaceX (NASDAQ:SPCX) Stock Price Down 2.5% – Should You Sell?

Shares of SpaceX (NASDAQ:SPCX) were down 2.5% during trading on Wednesday. The stock traded as low as $165.65 and last traded at $167.60. 76,835,886 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 102,879,930 shares. The stock had previously closed at $171.92.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Nationwide spectrum acquisition strengthens Starlink Mobile. SpaceX agreed to acquire Grain Management’s nationwide portfolio of low-band 800 MHz spectrum, reportedly covering up to 14 MHz of paired licenses and nearly the entire U.S. population. The lower-frequency spectrum could improve indoor and rural coverage while complementing Starlink’s direct-to-device satellite network, bringing SpaceX closer to becoming a major mobile carrier. Verizon stock heads for worst day since 2002 as SpaceX U.S. network plans whack telcos
• Positive Sentiment: Regulatory progress supports the wireless strategy. The FCC approved SpaceX’s next-generation Starlink constellation of up to 15,000 satellites for mobile and direct-to-device services, without requiring ground-provider leases. The approvals increase the potential scale of Starlink Mobile and contributed to investor optimism. Elon Musk’s SpaceX Gets Green Light from Trump’s FCC for 15,000 Starlink Satellites
• Positive Sentiment: Analyst support and AI ambitions added momentum. Barclays initiated coverage with a Buy rating and a $254 price target, while TD Cowen reaffirmed its Buy rating with a $200 target. Investors are also weighing SpaceX’s reported plans to raise as much as $40 billion to purchase Nvidia chips and expand AI-computing capacity, potentially creating another significant growth engine. Two Reasons SpaceX Stock Is Jumping Higher Today
• Neutral Sentiment: Competition is reshaping the communications sector. Verizon, AT&T and T-Mobile sold off sharply on fears that SpaceX could pressure traditional wireless operators, while cell-tower owners may benefit if SpaceX becomes a major network tenant. The deal remains subject to final FCC approval. US, European telecom stocks slide as SpaceX spectrum deal rattles sector
• Negative Sentiment: Financing and share-supply risks remain overhangs. Investors continue to question the leverage required for the AI buildout, while approximately $51 billion of insider shares became eligible for sale. ARK Invest also sold roughly $4.7 million of SpaceX shares, potentially limiting near-term gains. SpaceX’s Fleecing of Retail Investors Continues

Analysts Set New Price Targets

SPCX has been the topic of a number of recent research reports. Weiss Ratings assumed coverage on SpaceX in a research note on Tuesday, September 1st. They issued a “sell (d)” rating on the stock. Susquehanna boosted their price target on SpaceX from $144.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday. Canaccord Genuity Group assumed coverage on SpaceX in a research note on Tuesday, July 7th. They set a “buy” rating and a $246.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $246.00 target price on shares of SpaceX in a report on Wednesday, August 5th. Finally, Phillip Securities raised shares of SpaceX to a “strong sell” rating and set a $75.00 price target on the stock in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, SpaceX has a consensus rating of “Moderate Buy” and an average price target of $219.77.

SpaceX Price Performance

The business has a 50-day moving average price of $143.95. 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 firm has a market cap of $2.14 trillion and a PE ratio of -1,799.27.

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17. The company had revenue of $7.81 billion for the quarter. SpaceX’s quarterly revenue was up 91.9% on a year-over-year basis. On average, research analysts forecast that SpaceX will post 0.09 EPS for the current fiscal year.

Insider Activity at SpaceX

In related news, COO Gwynne Shotwell sold 342,170 shares of the stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total value of $52,547,046.90. Following the transaction, the chief operating officer directly owned 2,472,035 shares of the company’s stock, valued at approximately $379,630,414.95. This trade represents a 12.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hedge Funds Weigh In On SpaceX

A number of large investors have recently modified their holdings of SPCX. Wedbush Securities Inc. acquired a new position in shares of SpaceX in the second quarter worth about $5,094,000. Hyperion Asset Management Ltd purchased a new position in shares of SpaceX during the 2nd quarter valued at approximately $201,137,000. K5 Global Advisor LLC acquired a new stake in shares of SpaceX during the second quarter worth approximately $6,587,531,000. Turner Financial Group Inc. acquired a new stake in SpaceX in the second quarter valued at $1,228,000. Finally, Rik Saylor Financial Inc. bought a new position in SpaceX during the 2nd quarter valued at $1,670,000.

About SpaceX

Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.