SpaceX (NASDAQ:SPCX) Upgraded to “Strong-Buy” at Barclays

Barclays upgraded shares of SpaceX (NASDAQ:SPCX) to a strong-buy rating in a report released on Friday morning,Zacks reports.

SPCX has been the subject of a number of other reports. Stifel Nicolaus started coverage on shares of SpaceX in a research note on Tuesday, July 7th. They issued a “buy” rating and a $190.00 price objective for the company. Clear Str raised shares of SpaceX to a “strong-buy” rating in a research report on Tuesday, July 7th. Seaport Research Partners lowered SpaceX from a “buy” rating to a “neutral” rating in a report on Friday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $246.00 price objective on shares of SpaceX in a report on Wednesday, August 5th. Finally, Erste Group Bank initiated coverage on shares of SpaceX in a report on Thursday. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $219.77.

SpaceX Stock Up 1.2%

Shares of SPCX opened at $162.57 on Friday. SpaceX has a 52-week low of $104.83 and a 52-week high of $225.64. The company has a market capitalization of $2.14 trillion and a P/E ratio of -1,806.33. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12. The stock has a fifty day moving average of $145.03.

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

Insider Transactions at SpaceX

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total transaction 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 $379,630,414.95. This trade represents a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Investors Weigh In On SpaceX

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

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: The spectrum purchase—reported at roughly $8 billion by some outlets, although the exact price was not disclosed—could give Starlink Mobile stronger coverage indoors and in dense urban areas where satellites are less effective. The deal also positions SpaceX to compete more directly with AT&T, Verizon and T-Mobile. SpaceX’s low-band spectrum deal gives Starlink Mobile a terrestrial foothold
• Positive Sentiment: Analyst support added to the bullish reaction. Barclays initiated coverage with a Buy rating and a $254 target, while TD Cowen reaffirmed Buy with a $200 target; other analysts highlighted the hybrid satellite-and-terrestrial network strategy. Two Reasons SpaceX Stock Is Jumping Higher Today
• Positive Sentiment: The FCC’s approval of up to 15,000 next-generation Starlink satellites strengthens the company’s long-term direct-to-device opportunity. Investors are also valuing SpaceX’s reported AI-computing demand and potential Nvidia chip purchases as additional growth engines. SpaceX Gets Green Light for 15,000 Starlink Satellites
• Neutral Sentiment: The spectrum transaction remains subject to final FCC approval, and SpaceX still must invest heavily to build a terrestrial network, integrate services and attract wireless customers. The launch of Blue Origin as a future public-company competitor may also increase attention on the space sector. SpaceX Makes Big Play to Become a Wireless Carrier
• Negative Sentiment: Up to approximately $51 billion of insider shares became eligible for sale, creating a potential supply overhang and volatility risk after the recent rally. SpaceX Insider Shares Unlock
• Negative Sentiment: Reports that SpaceX may borrow $40 billion to purchase Nvidia chips continue to raise concerns about leverage, execution and the risk of spending aggressively on an unproven AI infrastructure business despite its substantial cash holdings. SpaceX in Talks to Raise $40 Billion in Loans

SpaceX Company Profile

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.