SpaceX (NASDAQ:SPCX) Trading Down 6.8% – Here’s What Happened

SpaceX (NASDAQ:SPCX) traded down 6.8% on Tuesday . The company traded as low as $148.86 and last traded at $149.47. 78,724,593 shares were traded during trading, a decline of 47% from the average session volume of 148,789,828 shares. The stock had previously closed at $160.42.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX hit two major launch milestones, reinforcing its core aerospace execution and supporting the bullish case for the stock. SpaceX (SPCX) Stock Rallies After Firm Hits Major Launch Milestones
• Positive Sentiment: Bank of America initiated coverage with a Buy rating and a $235 price target, while Raymond James and other firms issued even more aggressive bull calls, which is helping sentiment. SpaceX positioned as “foundational enabler” of space economy, BofA says
• Positive Sentiment: Cathie Wood’s ARK Invest reportedly bought more SpaceX shares, signaling continued institutional confidence after the post-IPO dip. Cathie Wood Buys More SpaceX, Sells AMD, BioNTech, and Other Growth Stocks, 7/9/26
• Positive Sentiment: SpaceX’s Nasdaq-100 inclusion is expected to trigger billions in passive buying from index funds and ETFs, creating structural demand for the shares. SpaceX Added to Nasdaq-100 and Could Trigger $4.3B in Forced Passive Buying

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Barclays upgraded shares of SpaceX from an “underweight” rating to an “overweight” rating in a research report on Monday, June 22nd. Bank of America initiated coverage on shares of SpaceX in a report on Tuesday. They set a “buy” rating and a $235.00 target price on the stock. KeyCorp began coverage on shares of SpaceX in a research note on Monday, June 22nd. They issued a “sector weight” rating for the company. Wedbush began coverage on shares of SpaceX in a research report on Tuesday, June 30th. They set an “outperform” rating and a $190.00 price target for the company. Finally, Stifel Nicolaus began coverage on SpaceX in a research note on Tuesday. They set a “buy” rating and a $190.00 price objective on the stock. Four analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, SpaceX has a consensus rating of “Moderate Buy” and an average price target of $239.12.

SpaceX Trading Up 3.4%

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

Institutional Investors Weigh In On SpaceX

A number of large investors have recently made changes to their positions in the business. Teamwork Financial Advisors LLC purchased a new position in shares of SpaceX during the second quarter valued at approximately $8,027,000. Dynamic Advisor Solutions LLC bought a new stake in SpaceX in the second quarter valued at $3,383,000. Castle Rock Wealth Management LLC bought a new stake in SpaceX in the second quarter valued at $2,310,000. Assenagon Asset Management S.A. bought a new position in SpaceX in the 2nd quarter worth $2,502,000. Finally, Cooper Financial Group purchased a new stake in shares of SpaceX in the 2nd quarter worth about $950,000.

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.