SpaceX (NASDAQ:SPCX) Stock Price Up 8.6% – Here’s What Happened

SpaceX (NASDAQ:SPCX) rose 8.6% during trading on Friday. The stock traded as high as $135.32 and last traded at $134.27. Approximately 114,251,907 shares were traded during trading, an increase of 10% from the average session volume of 103,713,539 shares. The stock had previously closed at $123.62.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Musk said SpaceX could exceed $500 billion in annual recurring revenue by December 2027, a forecast well above Wall Street expectations. He also pointed to U.S. government contracts as a growing revenue source, helping lift growth sentiment. Article: Musk Says SpaceX Will Hit a Revenue Number That Not One of Its 37 Analysts Believes
• Positive Sentiment: SpaceX’s partnership with Qualcomm to support Starlink Mobile’s planned 5G network offers a potential new telecom growth avenue, with deployment expected to begin in 2027. Article: Can SPCX’s Tie-Up With Qualcomm Strengthen Its Position in the 5G Market?
• Neutral Sentiment: Director Donald Harrison resigned from SpaceX’s board effective November 4. The announcement did not provide a reason, so the immediate business impact is unclear. Article: SpaceX Director Donald Harrison Resigns from Board
• Negative Sentiment: Democratic gains in Congress and Texas raised concerns about scrutiny, permitting and data-center expansion—important to SpaceX’s AI ambitions—and helped drive the recent selloff. Friday’s rebound recouped some of those losses, but the policy uncertainty remains. Article: Why SpaceX Stock Is Up Today
• Negative Sentiment: SpaceX’s wireless ambitions may require substantial spending and face tough competition. Deutsche Telekom’s CEO said building a rival mobile network would require a costly terrestrial footprint, highlighting execution and financing risks alongside the growth opportunity. Article: Deutsche Telekom CEO Says SpaceX Has a Massive Mountain to Climb to Compete in Mobile

Wall Street Analyst Weigh In

SPCX has been the topic of several research analyst reports. Sanford C. Bernstein set a $267.00 price objective on shares of SpaceX in a research report on Monday, October 26th. China Renaissance started coverage on shares of SpaceX in a research report on Thursday. They set a “buy” rating and a $194.20 target price for the company. TD Cowen boosted their price target on shares of SpaceX from $200.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, October 21st. JPMorgan Chase & Co. increased their price target on shares of SpaceX from $240.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 21st. Finally, Susquehanna raised their price objective on shares of SpaceX from $173.00 to $176.00 and gave the company a “neutral” rating in a research report on Wednesday, October 21st. Four research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.60.

SpaceX Trading Up 8.6%

The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00. The stock has a market cap of $1.82 trillion and a PE ratio of 516.42. The firm has a fifty day moving average price of $149.18.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.25. The company had revenue of $14.57 billion for the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The business’s quarterly revenue was up 161.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.36) earnings per share. On average, equities analysts anticipate that SpaceX will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the stock in a transaction that occurred 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 in the company, valued at $379,630,414.95. This trade represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Investors Weigh In On SpaceX

Institutional investors have recently made changes to their positions in the business. MSH Capital Advisors LLC increased its position in shares of SpaceX by 334.1% during the 3rd quarter. MSH Capital Advisors LLC now owns 16,888 shares of the company’s stock valued at $2,536,000 after purchasing an additional 12,998 shares during the last quarter. Cornerstone Advisory LLC lifted its position in SpaceX by 710.0% in the third quarter. Cornerstone Advisory LLC now owns 22,493 shares of the company’s stock worth $3,393,000 after buying an additional 19,716 shares during the last quarter. ACT Capital Partners L.P. bought a new stake in SpaceX in the third quarter worth $121,000. Clearwater Capital Advisors LLC purchased a new position in SpaceX during the third quarter worth $3,446,000. Finally, Purkiss Capital Advisors LLC purchased a new position in SpaceX during the third quarter worth $255,000.

SpaceX Company Profile

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

SpaceX’s principal products and services include the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starlink satellite communications network. Falcon rockets are used to launch satellites, cargo and crew, while Dragon spacecraft support transportation to and from low Earth orbit.