SpaceX (NASDAQ:SPCX) Stock Rating Upgraded by DZ Bank

SpaceX (NASDAQ:SPCX) was upgraded by research analysts at DZ Bank to a “strong sell” rating in a report released on Thursday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on SPCX. HSBC began coverage on SpaceX in a report on Thursday, July 23rd. They issued a “hold” rating and a $115.00 target price on the stock. Bank of America started coverage on SpaceX in a research report on Tuesday, July 7th. They issued a “buy” rating and a $235.00 price target for the company. Seaport Research Partners cut SpaceX from a “buy” rating to a “neutral” rating in a research note on Friday, August 7th. Cfra started coverage on SpaceX in a report on Friday, June 12th. They set a “sell” rating and a $115.00 price objective on the stock. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of SpaceX in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, SpaceX presently has an average rating of “Moderate Buy” and an average price target of $220.20.

SpaceX Stock Performance

Shares of NASDAQ:SPCX opened at $136.97 on Thursday. The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1.79 trillion and a PE ratio of -1,521.89. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64. The business’s 50 day simple moving average is $142.32.

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.17. The company had revenue of $7.81 billion during the quarter. The company’s revenue was up 91.9% on a year-over-year basis. On average, sell-side analysts expect that SpaceX will post -0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On SpaceX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hyperion Asset Management Ltd purchased a new position in shares of SpaceX during the 2nd quarter valued at $201,137,000. Assenagon Asset Management S.A. purchased a new stake in shares of SpaceX during the second quarter worth $2,502,000. Sage Capital Advisors llc purchased a new stake in shares of SpaceX during the second quarter worth $3,254,000. Dynamic Advisor Solutions LLC acquired a new stake in SpaceX during the second quarter valued at $3,383,000. Finally, Canvas Wealth Advisors LLC purchased a new position in SpaceX in the second quarter valued at about $2,598,000.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX successfully launched 29 Starlink satellites and landed the Falcon 9 booster on a drone ship. The mission pushed Starlink toward—and according to Elon Musk, beyond—11,000 satellites in orbit, reinforcing the company’s launch cadence and satellite-internet expansion. SpaceX launches 29 Starlink satellites
• Positive Sentiment: Federal policy targeting 1,000 launches annually by 2030 could create a favorable regulatory and contracting environment for SpaceX. Musk has also outlined an extremely ambitious Starship goal of roughly 10,000 launches per year, highlighting the company’s long-term growth opportunity. Elon Musk on Starship launch targets
• Positive Sentiment: William Blair reiterated a Buy rating, citing SpaceX’s lead in reusable rockets and potential growth from AI-related revenue. A proposed $16.8 billion chip-factory venture with Tesla could also support SpaceX’s computing and AI ambitions. William Blair reiterates Buy

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.