SpaceX (NASDAQ:SPCX) Stock Price Down 13.6% – What’s Next?

Shares of SpaceX (NASDAQ:SPCX) traded down 13.6% during trading on Wednesday . The company traded as low as $106.66 and last traded at $108.27. 201,563,685 shares were traded during mid-day trading, an increase of 91% from the average session volume of 105,425,617 shares. The stock had previously closed at $125.33.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX reported second-quarter revenue of $7.81 billion, up 91.9% year over year and ahead of analyst expectations. Its adjusted EPS loss of $0.09 also beat the expected $0.26 loss. Starlink remained the primary earnings driver, while AI-cloud contracts with customers including Anthropic and Google supported growth. Reuters earnings report
• Positive Sentiment: Management outlined aggressive long-term targets, including a $100 billion annualized revenue run rate by December and $1 trillion in annual revenue by 2030. SpaceX also expects Starlink expansion and AI-compute demand to accelerate. SpaceX revenue targets
• Positive Sentiment: Several analysts remained bullish despite the selloff. Bank of America maintained a Buy rating and $235 target, while Needham and Cantor Fitzgerald reiterated Buy or Overweight ratings with targets near $250. Analyst reaction
• Positive Sentiment: A $1.6 billion Pentagon contract and plans to expand Starlink Mobile into broader wireless services could add substantial future revenue and challenge traditional carriers. Pentagon contract
• Neutral Sentiment: Elon Musk said SpaceX will use Nvidia chips exclusively for its AI buildout. The decision benefits Nvidia but underscores how dependent SpaceX’s expansion is on continued investment in expensive computing infrastructure. Nvidia endorsement
• Negative Sentiment: Capital expenditures surged to approximately $18.4 billion, including about $15.8 billion for AI infrastructure. The scale of spending, combined with widening losses in AI and space operations and concerns about substantial cash burn, overshadowed the revenue and earnings beats. AI spending concerns
• Negative Sentiment: As many as 912 million employee and pre-IPO shares become eligible for sale on August 6. The potential increase in the public float is creating supply concerns and could add volatility. SpaceX lockup expiry
• Negative Sentiment: SpaceX also disclosed an unrealized $540 million loss on its Bitcoin holdings, adding to investor concerns about cash deployment and financial volatility. Bitcoin loss

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SPCX shares. New Street Research upgraded shares of SpaceX to a “strong-buy” rating in a research report on Thursday, June 11th. Evercore started coverage on shares of SpaceX in a research note on Tuesday, July 14th. They set an “outperform” rating and a $230.00 target price on the stock. Daiwa Securities Group began coverage on SpaceX in a report on Thursday, July 2nd. They set a “neutral” rating and a $175.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $246.00 price objective on shares of SpaceX in a research report on Wednesday. Finally, Mizuho began coverage on shares of SpaceX in a report on Tuesday, July 7th. They set an “outperform” rating and a $200.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $229.39.

SpaceX Price Performance

SpaceX (NASDAQ:SPCX) last issued its quarterly 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 firm had revenue of $7.81 billion during the quarter. The business’s quarterly revenue was up 91.9% on a year-over-year basis.

Institutional Trading of SpaceX

A number of institutional investors have recently bought and sold shares of the company. KERR FINANCIAL PLANNING Corp acquired a new stake in SpaceX during the 2nd quarter worth about $566,000. Burkett Financial Services LLC bought a new stake in shares of SpaceX during the 2nd quarter valued at about $70,000. Dogwood Wealth Management LLC acquired a new stake in SpaceX during the second quarter worth approximately $139,000. Dynamic Advisor Solutions LLC acquired a new position in SpaceX in the second quarter valued at approximately $3,383,000. Finally, Apella Capital LLC bought a new position in shares of SpaceX during the 2nd quarter worth approximately $452,000.

SpaceX Company Profile

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.