SpaceX $SPCX Shares Newly Purchased by Fagan Associates Inc.

Fagan Associates Inc. bought a new position in shares of SpaceX (NASDAQ:SPCX) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 7,673 shares of the company’s stock, valued at approximately $1,158,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Syntax Research Inc. bought a new stake in shares of SpaceX in the 2nd quarter valued at about $26,000. Atwood & Palmer Inc. bought a new position in SpaceX during the 2nd quarter worth approximately $29,000. PayPay Securities Corp bought a new position in SpaceX during the 2nd quarter worth approximately $30,000. Hickory Point Bank & Trust acquired a new position in SpaceX during the third quarter valued at approximately $30,000. Finally, Marquette Asset Management LLC bought a new stake in SpaceX in the second quarter valued at approximately $32,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SPCX. Seaport Research Partners cut shares of SpaceX from a “buy” rating to a “neutral” rating in a research report on Friday, August 7th. Wedbush began coverage on shares of SpaceX in a report on Tuesday, June 30th. They issued an “outperform” rating and a $190.00 price target for the company. Canaccord Genuity Group started coverage on shares of SpaceX in a research report on Tuesday, July 7th. They issued a “buy” rating and a $246.00 price objective for the company. Arete Research set a $450.00 price objective on SpaceX in a research note on Tuesday, August 11th. Finally, Daiwa Securities Group began coverage on SpaceX in a research note on Thursday, July 2nd. They set a “neutral” rating and a $175.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, nine have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $220.06.

Insiders Place Their Bets

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of SpaceX stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total value of $52,547,046.90. Following the transaction, the chief operating officer 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 filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX successfully launched a Falcon 9 mission carrying approximately 6,300 pounds of cargo to the International Space Station, reinforcing the company’s operational reliability and commercial launch capabilities. SpaceX successfully launches cargo to the International Space Station
• Positive Sentiment: Analysts continue to point to Starlink growth, the planned Starship program and SpaceX’s wireless ambitions as significant long-term catalysts. Some firms maintain Buy or Overweight ratings, with price targets above the current market level. Morgan Stanley on Starship as a catalyst
• Neutral Sentiment: SpaceX is seeking approval for as many as 456 Starship launches annually, a dramatic increase from its current flight cadence. The proposal highlights substantial future capacity, but execution, regulatory approval and infrastructure requirements remain uncertain. SpaceX seeks approval for 456 annual Starship launches
• Negative Sentiment: The most immediate concern is SpaceX’s proposed $40 billion debt raise to fund Nvidia chips and its AI build-out. Reports indicate that cash consumption could accelerate, while rising costs to insure SpaceX’s debt suggest bond investors are becoming more concerned about leverage and default risk. Bond investors wary of SpaceX borrowing
• Negative Sentiment: SpaceX also agreed to testify before the New York City Council after receiving a subpoena related to AI safety. Although no violation was established in the reports, the public investigation adds regulatory and reputational risk as the company expands its AI operations. SpaceX to testify before NYC Council on AI safety
• Negative Sentiment: Analyst commentary has raised concerns that SpaceX’s wireless push and spectrum acquisition could require significant investment before generating returns. Skepticism over valuation and the ability to compete with established telecom networks is adding pressure to the stock. Wall Street skepticism over SpaceX wireless expansion

SpaceX Trading Down 4.2%

Shares of NASDAQ:SPCX traded down $6.88 during trading on Tuesday, hitting $156.54. 68,680,166 shares of the company’s stock traded hands, compared to its average volume of 101,630,234. 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 50-day simple moving average of $146.63. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The firm has a market cap of $2.06 trillion and a P/E ratio of -1,739.33.

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

SpaceX 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.