SpaceX (NASDAQ:SPCX) Stock Price Down 2% – Here’s Why

SpaceX (NASDAQ:SPCX)’s stock price fell 2% during trading on Monday . The company traded as low as $146.00 and last traded at $148.15. Approximately 67,407,715 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 104,005,219 shares. The stock had previously closed at $151.21.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX is pursuing an AI-compute hosting model, including an unnamed customer expected to generate approximately $1.11 billion in monthly revenue, or a $13.3 billion annualized run rate. Analysts have consequently raised some 2027 revenue forecasts toward $100 billion. SpaceX Focuses on Compute-Renting Model
• Positive Sentiment: Elon Musk expressed high confidence that SpaceX will launch Nvidia AI computers into orbit in 2027. Success could establish a differentiated space-computing business and strengthen the investment case, although the schedule remains ambitious. Elon Musk Highly Confident in Nvidia AI Computer Launch
• Positive Sentiment: The successful 700th Falcon mission reinforces SpaceX’s launch reliability and commercial revenue base. A higher Nasdaq-100 weighting could also create additional buying from index-tracking funds. SpaceX to Get Nasdaq-100 Weighting Boost
• Neutral Sentiment: Investors are debating whether Starship capacity should prioritize near-term Starlink launches or longer-term lunar and research missions. The choice could affect near-term revenue and strategic milestones. SpaceX Faces Starship Capacity Dilemma
• Neutral Sentiment: SpaceX is reportedly overhauling xAI data-center infrastructure after reliability problems, highlighting both the scale of its AI opportunity and the operational challenges of expanding compute capacity. SpaceX Overhauls xAI Data Center Infrastructure
• Negative Sentiment: Bearish commentary focuses on SPCX’s exceptionally high valuation, substantial capital requirements and credit risk as SpaceX funds rockets, satellites and AI infrastructure simultaneously. The post-IPO lockup expiration could also increase selling pressure and volatility. David Einhorn Warns About SpaceX Capital Needs
• Negative Sentiment: A broader pullback in AI-related stocks is weighing on investor sentiment, while delays in rockets and uncertainty around orbital-computing economics make the aggressive revenue projections difficult to underwrite. AI Trade Stumbles as CEOs Discuss Model Slowdown

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SPCX shares. Needham & Company LLC reaffirmed a “buy” rating and set a $250.00 target price on shares of SpaceX in a report on Wednesday, August 5th. UBS Group reiterated a “buy” rating and issued a $75.00 price target (down from $210.00) on shares of SpaceX in a report on Monday, August 17th. Benchmark started coverage on SpaceX in a research note on Monday, June 22nd. They set a “buy” rating on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $246.00 target price on shares of SpaceX in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada cut shares of SpaceX from an “outperform” rating to a “hold” rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have assigned a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat, SpaceX currently has an average rating of “Moderate Buy” and a consensus target price of $221.42.

SpaceX Trading Down 2.0%

The company has a market cap of $1.94 trillion and a price-to-earnings ratio of -1,646.11. The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average of $134.79.

SpaceX (NASDAQ:SPCX) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17. The company had revenue of $7.81 billion for the quarter. The firm’s revenue for the quarter was up 91.9% on a year-over-year basis. On average, equities research analysts predict that SpaceX will post -0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SpaceX

Institutional investors have recently modified their holdings of the company. SC US Ttgp LTD. acquired a new position in SpaceX during the 2nd quarter valued at about $20,933,621,000. Darsana Capital Partners LP bought a new stake in shares of SpaceX during the second quarter valued at approximately $17,335,783,000. K5 Global Advisor LLC acquired a new position in shares of SpaceX during the second quarter worth approximately $6,587,531,000. Dragoneer Investment Group LLC acquired a new position in shares of SpaceX during the second quarter worth approximately $1,366,880,000. Finally, National Pension Service bought a new position in SpaceX in the 2nd quarter worth approximately $598,010,000.

SpaceX Company Profile

Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems, serving commercial, government and scientific customers.

SpaceX’s principal products include the Falcon 9 and Falcon Heavy rockets, which are used to launch satellites, spacecraft and other payloads into orbit. The company also develops the Dragon spacecraft, which supports cargo and crew missions to low Earth orbit, including missions for NASA and other customers.

Through its Starlink business, SpaceX operates a large constellation of low Earth orbit satellites that provides broadband internet service to customers in numerous countries and regions.