Draper Asset Management LLC Takes $5.21 Million Position in SpaceX $SPCX

Draper Asset Management LLC acquired a new stake in shares of SpaceX (NASDAQ:SPCX) during the second quarter, according to its most recent filing with the SEC. The fund acquired 30,495 shares of the company’s stock, valued at approximately $5,210,000. SpaceX accounts for approximately 2.6% of Draper Asset Management LLC’s investment portfolio, making the stock its 8th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in SPCX. Wedbush Securities Inc. purchased a new position in SpaceX during the 2nd quarter valued at about $5,094,000. Hyperion Asset Management Ltd purchased a new stake in shares of SpaceX in the second quarter worth about $201,137,000. Assenagon Asset Management S.A. purchased a new stake in shares of SpaceX in the second quarter worth about $2,502,000. Sage Capital Advisors llc bought a new position in shares of SpaceX in the second quarter valued at approximately $3,254,000. Finally, Dynamic Advisor Solutions LLC bought a new position in shares of SpaceX in the second quarter valued at approximately $3,383,000.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. New Street Research raised shares of SpaceX to a “strong-buy” rating in a report on Thursday, June 11th. Canaccord Genuity Group started coverage on shares of SpaceX in a report on Tuesday, July 7th. They issued a “buy” rating and a $246.00 price target for the company. KeyCorp restated a “sector weight” rating on shares of SpaceX in a research report on Tuesday, July 28th. Guggenheim started coverage on shares of SpaceX in a report on Friday, August 7th. They issued a “buy” rating on the stock. Finally, Susquehanna downgraded SpaceX from a “neutral” rating to an “underperform” rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have given a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $221.20.

SpaceX Trading Down 1.1%

SPCX stock opened at $140.71 on Thursday. The stock has a 50 day moving average of $136.33. The company has a market capitalization of $1.84 trillion and a PE ratio of -1,563.44. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64.

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

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Analysts see substantial AI upside. Oppenheimer raised its price target to $280 from $250, citing faster-than-expected AI usage, improving computing economics and rapidly expanding infrastructure. Bernstein set a $248 target and expects AI revenue could nearly quintuple in 2027. Oppenheimer SpaceX price target article
• Positive Sentiment: Compute demand is creating a new revenue stream. Google and Anthropic reportedly turned to SpaceX for AI computing because electricity and data-center capacity are constrained. The company is building its own power supplies and reportedly securing significant payments from large technology customers. SpaceX AI compute demand article
• Positive Sentiment: Defense adoption strengthens the strategic narrative. The Pentagon’s authorization of Starshield AI’s Grok for government use supports SpaceX’s positioning in secure, software-driven defense and orbital computing. Pentagon Grok rollout article
• Positive Sentiment: Recent operating momentum supports the bullish case. Revenue rose 91.9% year over year in the latest quarter, while Starlink’s connectivity business generated approximately $1.66 billion in operating profit. Plans to manufacture gas turbines could also help address the power bottleneck limiting AI expansion. SpaceX Starlink profitability article
• Neutral Sentiment: A scheduled SpaceX rocket launch visible across parts of California and Arizona may generate publicity, but it is unlikely to materially change valuation or near-term earnings. SpaceX California launch article
• Negative Sentiment: AI execution problems are the clearest near-term risk. SpaceX reportedly reshuffled its data-center leadership after reliability issues at Tennessee and Mississippi facilities, with a Sept. 30 deadline approaching for Google’s reported $920 million-per-month computing agreement. Delays could threaten revenue expectations and customer confidence. SpaceX data-center team changes article
• Negative Sentiment: Investors remain concerned that AI and space operations are consuming enormous capital while producing losses. The AI unit reportedly accounted for most quarterly capital spending, and the company’s valuation leaves little room for disappointment. Dependence on Elon Musk also creates key-person and governance risk. SpaceX key-person risk article

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.