SpaceX (NASDAQ:SPCX) Short Interest Update

SpaceX (NASDAQ:SPCX) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 23,341,117 shares, an increase of ∞ from the May 31st total of 0 shares. Based on an average daily volume of 69,191,993 shares, the short-interest ratio is presently 0.3 days. Currently, 0.2% of the shares of the stock are sold short.

Insider Buying and Selling

In other news, CEO Elon Musk sold 11,390 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $105.32, for a total value of $1,199,594.80. Following the completion of the sale, the chief executive officer directly owned 526,165,900 shares in the company, valued at $55,415,792,588. The trade was a 0.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

SpaceX Price Performance

NASDAQ SPCX traded down $13.32 on Wednesday, reaching $157.54. 102,238,585 shares of the company were exchanged, compared to its average volume of 157,823,703. SpaceX has a fifty-two week low of $147.11 and a fifty-two week high of $225.64.

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.27) EPS for the quarter. The firm had revenue of $4.69 billion during the quarter.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Wedbush launched coverage of SpaceX (SPCX) with a Buy rating and $190 target, citing upside from Starlink, launch services, and AI-related businesses. SpaceX Stock Gets Buy Rating From a Tesla Bull Who Knows The Biggest Risk
• Positive Sentiment: SpaceX (SPCX) is headed into the Nasdaq-100 on July 7, a move expected to bring large passive inflows from index funds and ETFs. SpaceX Achieves Escape Velocity With Nasdaq Fast-Track
• Positive Sentiment: Dan Ives said SpaceX (SPCX) may be one of the best AI plays because of its demand flywheel and expanding AI infrastructure ambitions. Dan Ives Says SpaceX’s Demand Flywheel is Just Getting Started

Analyst Ratings Changes

SPCX has been the subject of several recent analyst reports. Cfra assumed coverage on shares of SpaceX in a report on Friday, June 12th. They issued a “sell” rating and a $115.00 price target for the company. Argus began coverage on shares of SpaceX in a report on Friday, June 26th. They set a “hold” rating on the stock. Wall Street Zen upgraded shares of SpaceX to a “sell” rating in a research report on Saturday, June 20th. Benchmark began coverage on shares of SpaceX in a research note on Monday, June 22nd. They set a “buy” rating for the company. Finally, Morgan Stanley cut SpaceX to a “negative” rating in a report on Monday, June 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, SpaceX has a consensus rating of “Moderate Buy” and an average price target of $209.43.

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.