SpaceX (NASDAQ:SPCX) Shares Down 3.1% – Should You Sell?

SpaceX (NASDAQ:SPCX) traded down 3.1% during mid-day trading on Tuesday . The stock traded as low as $142.87 and last traded at $143.49. 71,374,763 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 103,505,133 shares. The stock had previously closed at $148.15.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Starship’s first orbital attempt is scheduled for September 22. SpaceX plans to send Starship through six Earth orbits during an approximately 10-hour test and deploy Starlink V3 satellites. A successful mission would mark a major technical milestone and support the company’s launch, satellite and lunar ambitions. SpaceX targets first Starship orbital test on September 22
• Positive Sentiment: Commercialization is beginning to emerge. SpaceX reportedly has a first commercial Starship mission planned for 2028, while its Starfall orbital-return business signed Space Cargo as its first customer. These agreements provide evidence that future revenue may extend beyond launches and Starlink. SpaceX Lines Up Starship’s First Commercial Mission for 2028
• Positive Sentiment: AI infrastructure could become a significant growth driver. CEO Elon Musk expressed confidence that SpaceX will put NVIDIA AI computers into orbit in 2027. Reports also describe large AI-hosting agreements, including a contract expected to begin in December, potentially accelerating revenue and margin growth.
• Positive Sentiment: Nasdaq-100 inclusion should create mechanical demand. SpaceX’s index weighting is expected to rise from roughly 1.28% to 2.82% at the September 18 rebalance as more shares become publicly tradable. Index-tracking funds may need to purchase billions of dollars of stock, although the actual price impact is uncertain. SpaceX Defies Gravity With a Nasdaq-100 Double-Weighting Boost
• Neutral Sentiment: SpaceX reported $7.81 billion in quarterly revenue, up 91.9% year over year, and beat its EPS-loss estimate. However, the company remains unprofitable and trades at an exceptionally high valuation relative to sales.
• Negative Sentiment: Lockup expirations are the clearest near-term overhang. Up to 1.3 billion shares may be released through December, with additional large unlocks expected in October and November. The potential supply could offset index-fund buying and keep volatility elevated. SpaceX Stock Faces a Risk That Keeps Coming Back in Waves
• Negative Sentiment: Investors remain concerned about the enormous capital required for Starship, Starlink and orbital AI projects, as well as the risks that ambitious timelines may slip. Renewed Tesla-SpaceX merger speculation adds uncertainty rather than immediate earnings support.

Analyst Ratings Changes

SPCX has been the subject of a number of recent research reports. Arete Research set a $450.00 target price on shares of SpaceX in a research report on Tuesday, August 11th. Argus raised shares of SpaceX from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a research note on Friday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $246.00 price target on shares of SpaceX in a research report on Wednesday, August 5th. HSBC started coverage on SpaceX in a report on Thursday, July 23rd. They issued a “hold” rating and a $115.00 price objective on the stock. Finally, Royal Bank Of Canada lowered shares of SpaceX from an “outperform” rating to a “hold” rating in a research note 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 given a Hold rating and seven have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.42.

SpaceX Stock Performance

The firm has a market capitalization of $1.88 trillion and a price-to-earnings ratio of -1,594.33. 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 price of $134.55.

SpaceX (NASDAQ:SPCX) last issued 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 company had revenue of $7.81 billion for the quarter. The firm’s quarterly revenue was up 91.9% on a year-over-year basis. On average, research analysts expect that SpaceX will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of SpaceX

Several institutional investors and hedge funds have recently bought and sold shares of the business. Syntax Research Inc. purchased a new stake in SpaceX during the 2nd quarter valued at approximately $26,000. Atwood & Palmer Inc. acquired a new position in shares of SpaceX in the second quarter worth $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 acquired a new stake in SpaceX in the 2nd quarter worth about $32,000. Finally, Community Bank N.A. acquired a new stake in shares of SpaceX during the 2nd quarter worth $38,000.

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.