SpaceX (NASDAQ:SPCX) Stock Rating Upgraded by Susquehanna

SpaceX (NASDAQ:SPCX) was upgraded by Susquehanna to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. New Street Research raised SpaceX to a “strong-buy” rating in a report on Thursday, June 11th. Wolfe Research assumed coverage on SpaceX in a research note on Friday, June 12th. They set an “outperform” rating and a $175.00 price target on the stock. Barclays upgraded SpaceX from an “underweight” rating to an “overweight” rating in a report on Monday. Wall Street Zen raised SpaceX to a “sell” rating in a research note on Saturday. Finally, TD Cowen began coverage on shares of SpaceX in a report on Monday. They issued a “buy” rating for the company. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $212.67.

SpaceX Price Performance

NASDAQ SPCX opened at $156.11 on Tuesday. SpaceX has a fifty-two week low of $147.11 and a fifty-two week high of $225.64.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.27) EPS for the quarter. The firm had revenue of $4.69 billion during the quarter.

Insider Transactions at SpaceX

In other SpaceX news, CEO Elon Musk sold 11,390 shares of SpaceX stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $105.32, for a total transaction of $1,199,594.80. Following the transaction, the chief executive officer directly owned 526,165,900 shares of the company’s stock, valued at approximately $55,415,792,588. The trade was a 0.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX announced a $6.3 billion compute deal with Reflection AI, which adds a new recurring revenue stream and underscores demand for its data-center capacity. Reuters: AI startup Reflection signs computing power deal with SpaceX
• Positive Sentiment: The company’s first-ever public bond sale drew unusually strong demand, showing lenders still view SpaceX as a high-quality credit despite the sell-off. CNBC: SpaceX raises $25 billion in debt sale less than two weeks after IPO
• Neutral Sentiment: KeyCorp initiated coverage with a “Sector Weight” view and relatively muted earnings estimates, reinforcing the idea that Wall Street is still waiting for proof that SpaceX’s growth can translate into profits.
• Negative Sentiment: SpaceX’s new debt offering and debt-refinancing needs are pressuring the stock, with investors worried the company is raising cash so soon after its IPO because operating cash flow may not be enough to fund expansion. MarketWatch: SpaceX already needs to raise more cash, and its stock is falling 10%
• Negative Sentiment: Ongoing concerns about valuation, dilution from acquisitions, and potential insider selling after lockup periods are adding to the sell-off and keeping traders cautious. Reuters: SpaceX launches notes offering, discloses $100.8 billion cash balance

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.