SpaceX (NASDAQ:SPCX) Shares Down 1% – What’s Next?

SpaceX (NASDAQ:SPCX)’s share price dropped 1% during mid-day trading on Tuesday . The stock traded as low as $141.17 and last traded at $142.23. Approximately 52,692,481 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 106,533,672 shares. The stock had previously closed at $143.69.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: AI power infrastructure creates a new growth angle. SpaceX is reportedly developing a Texas manufacturing operation for gas-turbine vanes and blades, aiming to accelerate power availability for AI data centers. Musk says the effort could shorten turbine deployment timelines by as much as 18 months, positioning SpaceX to benefit from the AI industry’s electricity bottleneck. SpaceX Goes Ultra-Vertical: Why Elon Musk Is Building Its Own Power Supply for AI
• Positive Sentiment: Starlink is providing the company’s clearest operating profit. SpaceX’s connectivity segment reportedly generated approximately $1.66 billion in second-quarter operating profit, while Starlink’s rising earnings helped support the company’s latest results and the broader investment case for the stock. Starlink Made SpaceX’s Only Segment Profit
• Positive Sentiment: Analyst and institutional enthusiasm remains supportive. Bernstein reiterated a bullish view, while ARK Invest purchased about $27 million of SPCX shares. Planned launches, progress toward Starship testing and a potential Starlink Mobile service add further catalysts. SpaceX’s Toughest Bet Could Cost $130 Billion
• Neutral Sentiment: Upcoming corporate actions could increase volatility. A September 9 share unlock is expected to expand the public float to roughly 17.7%, potentially improving liquidity but also creating additional selling pressure. SpaceX is also reportedly outside VOO’s inclusion criteria until at least 2027. SpaceX Share Unlock
• Negative Sentiment: Heavy AI investment is weighing on near-term profitability. The AI segment reportedly absorbed $15.8 billion, or 86% of quarterly capital spending, while the space and AI businesses together lost about $1.8 billion. The scale of spending, alongside a reported Dragon spacecraft leak that delayed an astronaut launch, reinforces execution and cash-burn concerns. SpaceX Capital Spending Concerns
• Negative Sentiment: Valuation leaves SPCX vulnerable to a market pullback. Commentators warn that ambitious revenue projections and extremely high expectations may already be reflected in the stock, making shares sensitive to weaker markets, delays or disappointing AI returns.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Barclays upgraded shares of SpaceX from an “underweight” rating to an “overweight” rating in a report on Monday, June 22nd. Royal Bank Of Canada downgraded SpaceX from an “outperform” rating to a “hold” rating in a report on Friday, August 7th. Canaccord Genuity Group began coverage on SpaceX in a research report on Tuesday, July 7th. They issued a “buy” rating and a $246.00 target price on the stock. Benchmark assumed coverage on shares of SpaceX in a research report on Monday, June 22nd. They set a “buy” rating for the company. Finally, Guggenheim initiated coverage on shares of SpaceX in a research note on Friday, August 7th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have issued a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $220.20.

SpaceX Stock Down 1.0%

The firm’s 50-day moving average price is $136.88. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12. The company has a market cap of $1.86 trillion and a price-to-earnings ratio of -1,580.33.

SpaceX (NASDAQ:SPCX) last issued its earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17. The business had revenue of $7.81 billion during the quarter. The firm’s revenue was up 91.9% compared to the same quarter last year. Analysts predict that SpaceX will post -0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SpaceX

A number of hedge funds have recently made changes to their positions in SPCX. Syntax Research Inc. acquired a new position in SpaceX in the 2nd quarter valued at about $26,000. Atwood & Palmer Inc. purchased a new position in shares of SpaceX in the second quarter valued at approximately $29,000. PayPay Securities Corp acquired a new position in shares of SpaceX in the second quarter valued at approximately $30,000. Marquette Asset Management LLC purchased a new stake in SpaceX during the 2nd quarter worth approximately $32,000. Finally, POM Investment Strategies LLC acquired a new stake in SpaceX during the 2nd quarter worth approximately $39,000.

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.