SpaceX (NASDAQ:SPCX) Stock Price Up 1.2% – Time to Buy?

SpaceX (NASDAQ:SPCX) traded up 1.2% during trading on Monday. The company traded as high as $142.05 and last traded at $136.37. 89,981,107 shares were traded during trading, a decline of 13% from the average session volume of 102,995,953 shares. The stock had previously closed at $134.72.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Potential Boost Mobile deal: Buying or integrating Boost Mobile would provide SpaceX with more than 7 million existing wireless customers, billing infrastructure and a faster route into the U.S. mobile market. Investors view the plan as a possible foundation for a fourth major wireless operator and a new growth channel for Starlink. SpaceX in talks to buy Boost Mobile or use its network
• Positive Sentiment: Rapid AI and Starlink expansion: Reports say SpaceX’s “super intelligence” business generated $7.6 billion in third-quarter revenue, while Starlink reached 13.6 million subscribers. The figures reinforce the bullish view that SpaceX is becoming an AI, connectivity and infrastructure company rather than solely a launch provider. SpaceX Just Changed What Investors Are Really Buying
• Neutral Sentiment: Deal feasibility is uncertain: Boost operates as a mobile virtual network operator and depends on leased capacity from AT&T and T-Mobile. Those carriers could resist transferring or renegotiating agreements if SpaceX becomes a direct competitor. Verizon’s chief executive also said incumbent carriers would compete aggressively. Verizon’s CEO Has a Warning for SpaceX and Its Mobile Plans
• Negative Sentiment: Heavy spending and valuation concerns: SpaceX is investing heavily in AI computing, satellites and data centers, with critics warning that orbital infrastructure could require enormous capital and debt. The stock’s premium valuation leaves limited room for execution disappointments, while share unlocks and broader skepticism toward the AI trade remain overhangs. Jim Chanos warns SpaceX data center costs could be higher

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Stifel Nicolaus started coverage on shares of SpaceX in a research report on Tuesday, July 7th. They issued a “buy” rating and a $190.00 price objective for the company. Piper Sandler reiterated a “neutral” rating on shares of SpaceX in a research report on Wednesday, October 21st. DZ Bank assumed coverage on SpaceX in a research report on Friday, August 21st. They issued a “sell” rating and a $100.00 price objective for the company. Bank of America upped their target price on shares of SpaceX from $235.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Finally, TD Cowen increased their price target on SpaceX from $200.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. Four analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $244.97.

SpaceX Price Performance

The company’s 50 day moving average is $149.56. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.00 and a current ratio of 3.08. The company has a market capitalization of $1.85 trillion and a PE ratio of 524.50.

SpaceX (NASDAQ:SPCX) last released its earnings results on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.25. The firm had revenue of $14.57 billion for the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The company’s revenue was up 161.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.36) earnings per share. On average, sell-side analysts forecast that SpaceX will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Gwynne Shotwell sold 342,170 shares of SpaceX stock in a transaction dated 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 owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. This trade represents a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hedge Funds Weigh In On SpaceX

Several institutional investors have recently bought and sold shares of SPCX. Syntax Research Inc. purchased a new stake in SpaceX during the second quarter valued at approximately $26,000. Atwood & Palmer Inc. acquired a new position in shares of SpaceX in the 2nd quarter valued at $29,000. PayPay Securities Corp acquired a new position in shares of SpaceX in the second quarter valued at about $30,000. Hickory Point Bank & Trust purchased a new position in shares of SpaceX in the third quarter worth about $30,000. Finally, Maryland Capital Advisors Inc. acquired a new position in SpaceX in the 3rd quarter worth approximately $30,000.

About SpaceX

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

SpaceX’s principal products and services include the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starlink satellite communications network. Falcon rockets are used to launch satellites, cargo and crew, while Dragon spacecraft support transportation to and from low Earth orbit.