SpaceX (NASDAQ:SPCX) Stock Rated Hold in New Coverage at Erste Group Bank

Erste Group Bank assumed coverage on shares of SpaceX (NASDAQ:SPCX) in a research report sent to investors on Thursday, Marketbeat reports. The brokerage issued a hold rating on the stock.

A number of other equities research analysts have also commented on SPCX. Roth Capital upgraded SpaceX to a “buy” rating in a research report on Monday, June 22nd. The Goldman Sachs Group reissued a “buy” rating on shares of SpaceX in a research report on Tuesday, September 29th. Raymond James Financial downgraded shares of SpaceX from a “strong-buy” rating to a “strong sell” rating in a report on Friday, August 7th. Oppenheimer increased their price objective on shares of SpaceX from $250.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 2nd. Finally, Stifel Nicolaus initiated coverage on shares of SpaceX in a report on Tuesday, July 7th. They set a “buy” rating and a $190.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, nine have given a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $219.77.

SpaceX Stock Performance

Shares of SPCX opened at $162.57 on Thursday. The stock’s 50-day moving average price is $145.03. SpaceX has a one year low of $104.83 and a one year high of $225.64. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. The firm has a market cap of $2.14 trillion and a PE ratio of -1,806.33.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17. The firm had revenue of $7.81 billion during the quarter. The company’s revenue for the quarter was up 91.9% compared to the same quarter last year. Analysts predict that SpaceX will post 0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total value of $52,547,046.90. Following the completion of the transaction, the chief operating officer directly owned 2,472,035 shares of the company’s stock, valued at approximately $379,630,414.95. The trade was a 12.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Investors Weigh In On SpaceX

A number of hedge funds and other institutional investors have recently made changes to their positions in SPCX. Integrated Financial Solutions Inc. lifted its stake in shares of SpaceX by 84.6% in the 3rd quarter. Integrated Financial Solutions Inc. now owns 3,230 shares of the company’s stock valued at $487,000 after purchasing an additional 1,480 shares during the period. Gallagher Capital Advisors LLC grew its position in SpaceX by 2,015.6% during the third quarter. Gallagher Capital Advisors LLC now owns 34,823 shares of the company’s stock valued at $5,253,000 after buying an additional 33,177 shares during the period. Armstrong Advisory Group Inc. increased its holdings in SpaceX by 50.4% in the third quarter. Armstrong Advisory Group Inc. now owns 1,698 shares of the company’s stock valued at $256,000 after buying an additional 569 shares in the last quarter. jvl associates llc acquired a new position in shares of SpaceX in the third quarter worth about $321,000. Finally, Friday Financial purchased a new stake in shares of SpaceX during the 3rd quarter worth about $324,000.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: The spectrum purchase—reported at roughly $8 billion by some outlets, although the exact price was not disclosed—could give Starlink Mobile stronger coverage indoors and in dense urban areas where satellites are less effective. The deal also positions SpaceX to compete more directly with AT&T, Verizon and T-Mobile. SpaceX’s low-band spectrum deal gives Starlink Mobile a terrestrial foothold
• Positive Sentiment: Analyst support added to the bullish reaction. Barclays initiated coverage with a Buy rating and a $254 target, while TD Cowen reaffirmed Buy with a $200 target; other analysts highlighted the hybrid satellite-and-terrestrial network strategy. Two Reasons SpaceX Stock Is Jumping Higher Today
• Positive Sentiment: The FCC’s approval of up to 15,000 next-generation Starlink satellites strengthens the company’s long-term direct-to-device opportunity. Investors are also valuing SpaceX’s reported AI-computing demand and potential Nvidia chip purchases as additional growth engines. SpaceX Gets Green Light for 15,000 Starlink Satellites
• Neutral Sentiment: The spectrum transaction remains subject to final FCC approval, and SpaceX still must invest heavily to build a terrestrial network, integrate services and attract wireless customers. The launch of Blue Origin as a future public-company competitor may also increase attention on the space sector. SpaceX Makes Big Play to Become a Wireless Carrier
• Negative Sentiment: Up to approximately $51 billion of insider shares became eligible for sale, creating a potential supply overhang and volatility risk after the recent rally. SpaceX Insider Shares Unlock
• Negative Sentiment: Reports that SpaceX may borrow $40 billion to purchase Nvidia chips continue to raise concerns about leverage, execution and the risk of spending aggressively on an unproven AI infrastructure business despite its substantial cash holdings. SpaceX in Talks to Raise $40 Billion in Loans

SpaceX Company Profile

Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.