SpaceX (NASDAQ:SPCX) Shares Gap Down – What’s Next?

SpaceX (NASDAQ:SPCX)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $125.33, but opened at $112.37. SpaceX shares last traded at $112.03, with a volume of 40,201,506 shares.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Q2 earnings beat expectations. Revenue rose 91.9% year over year to $7.81 billion, while SpaceX reported a loss of $0.09 per share versus analysts’ expected loss of $0.26. The results highlighted strong Starlink growth and expanding AI-related revenue. SpaceX Stock Surges Following Strong Q2 Earnings Beat
• Positive Sentiment: Analyst support strengthened. Argus upgraded SpaceX from Hold to Buy with a $160 price target, while other firms, including Cantor Fitzgerald and Needham, maintained bullish ratings. Analysts cited the company’s AI and cloud-computing opportunity as a potential long-term growth driver. SpaceX Upgraded by Argus to Buy
• Positive Sentiment: The major lockup expiration did not trigger an immediate selloff. About 911 million shares became eligible for trading, more than doubling the public float, but buying from retail investors and long-term supporters helped absorb the additional supply. SpaceX Defies Lockup Fears
• Positive Sentiment: Terafab expands SpaceX’s AI strategy. SpaceX and Tesla confirmed an initial $16.8 billion investment in a Texas chip-manufacturing facility, supporting the company’s ambitions in AI infrastructure and orbital computing. SpaceX Terafab Investment
• Neutral Sentiment: Kevin O’Leary said he is waiting for post-IPO volatility to settle before buying SPCX, reflecting continued investor interest but also caution about valuation and price swings. Kevin O’Leary Discusses SpaceX Entry
• Negative Sentiment: Heavy AI investment remains the principal overhang. SpaceX spent approximately $18.4 billion in the quarter, including substantial AI-related capital expenditures, raising concerns about cash burn, execution risk and the company’s ability to convert growth into sustainable profits.
• Negative Sentiment: More restricted shares are scheduled to become tradable through December, creating the possibility of additional selling pressure and volatility even after the first unlock was absorbed.
• Negative Sentiment: Starlink Mobile faces skepticism from T-Mobile’s CEO, who questioned SpaceX’s competitive differentiation and the need for terrestrial infrastructure to challenge established wireless carriers. T-Mobile CEO Questions Starlink Mobile

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Evercore assumed coverage on SpaceX in a research report on Tuesday, July 14th. They set an “outperform” rating and a $230.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on shares of SpaceX in a research note on Tuesday, July 7th. They issued an “overweight” rating and a $225.00 price target on the stock. Zacks Research raised shares of SpaceX to a “hold” rating in a research report on Monday, June 15th. Sanford C. Bernstein set a $248.00 price objective on shares of SpaceX in a report on Thursday. Finally, Canaccord Genuity Group assumed coverage on shares of SpaceX in a research report on Tuesday, July 7th. They set a “buy” rating and a $246.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $227.31.

SpaceX Stock Performance

The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.22.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.17. The business had revenue of $7.81 billion for the quarter. The firm’s quarterly revenue was up 91.9% compared to the same quarter last year. Research analysts predict that SpaceX will post -0.64 EPS for the current year.

Hedge Funds Weigh In On SpaceX

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Hyperion Asset Management Ltd bought a new position in SpaceX in the second quarter valued at about $201,137,000. Tema ETFs LLC bought a new stake in shares of SpaceX during the second quarter worth about $32,037,000. Teamwork Financial Advisors LLC acquired a new position in shares of SpaceX in the second quarter valued at approximately $8,027,000. Heck Capital Advisors LLC bought a new position in SpaceX in the 2nd quarter valued at approximately $3,768,000. Finally, Dynamic Advisor Solutions LLC bought a new position in SpaceX in the 2nd quarter valued at approximately $3,383,000.

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.