SpaceX (NASDAQ:SPCX) Sets New 1-Year Low – Time to Sell?

SpaceX (NASDAQ:SPCX)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $136.78 and last traded at $139.14, with a volume of 71122394 shares changing hands. The stock had previously closed at $145.30.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Negative Sentiment: Wall Street commentary is increasingly bearish, with critics warning that SpaceX’s valuation got ahead of fundamentals and that the IPO may have created “exit liquidity” for early holders rather than a clean buying opportunity. Article Title
• Negative Sentiment: Investors are worried about upcoming lockup expirations and a potential surge in tradable shares, which could add more selling pressure in the weeks ahead. Article Title
• Negative Sentiment: The company is facing growing competition in reusable rockets, with reports noting that SpaceX may no longer be the only player with a reliable, reusable launch system. Article Title
• Neutral Sentiment: The FAA cleared Starship for another flight after SpaceX identified the likely cause of a prior booster failure, which supports the long-term launch roadmap but has not been enough to offset valuation concerns. Article Title
• Neutral Sentiment: Some bullish analysts and investors still see major upside, pointing to Starlink, AI infrastructure plans, and index inclusion as long-term catalysts, while Cathie Wood reportedly added to her position during the selloff. Article Title

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Arete Research set a $401.00 target price on shares of SpaceX and gave the stock a “buy” rating in a research report on Thursday, June 18th. Daiwa Securities Group started coverage on SpaceX in a research note on Thursday, July 2nd. They set a “neutral” rating and a $175.00 price target for the company. JPMorgan Chase & Co. started coverage on SpaceX in a report on Tuesday, July 7th. They issued an “overweight” rating and a $225.00 price objective for the company. Roth Capital upgraded SpaceX to a “buy” rating in a research report on Monday, June 22nd. Finally, Susquehanna initiated coverage on SpaceX in a report on Tuesday, June 23rd. They set a “neutral” rating and a $170.00 price objective on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, SpaceX presently has an average rating of “Moderate Buy” and an average target price of $239.12.

SpaceX Trading Down 4.2%

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SPCX. Hyperion Asset Management Ltd bought a new stake in shares of SpaceX in the 2nd quarter valued at about $201,137,000. Tema ETFs LLC purchased a new position in SpaceX in the 2nd quarter worth approximately $32,037,000. Teamwork Financial Advisors LLC bought a new stake in SpaceX in the second quarter valued at approximately $8,027,000. Heck Capital Advisors LLC bought a new stake in SpaceX in the second quarter valued at approximately $3,768,000. Finally, Dynamic Advisor Solutions LLC purchased a new stake in shares of SpaceX during the second quarter valued at approximately $3,383,000.

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.