SpaceX (NASDAQ:SPCX) Shares Up 5.2% – Here’s What Happened

SpaceX (NASDAQ:SPCX) was up 5.2% on Wednesday . The company traded as high as $153.01 and last traded at $150.88. Approximately 107,725,150 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 103,586,844 shares. The stock had previously closed at $143.49.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX plans to launch Starship Flight 14 on September 22 in its first attempt to place the vehicle’s upper stage into orbit and deploy Starlink V3 satellites. A successful mission could improve confidence in reusable launches, Starlink expansion and future launch revenue. Reuters Starship orbital test article
• Positive Sentiment: Reports highlighted SpaceX’s growing defense business, including approximately $8.05 billion in announced awards, Starshield contracts and a potential role in the Pentagon’s Golden Dome missile-defense plans. Confirmation that the U.S. has space-based weapons further supports demand for military space services. Space weapons and SpaceX article
• Positive Sentiment: SpaceX reportedly secured an AI-hosting agreement worth more than $1 billion per month beginning December 1, adding to optimism that its computing infrastructure could diversify revenue beyond launches and Starlink. SpaceX AI hosting deal article
• Positive Sentiment: ARK Invest’s Cathie Wood called SpaceX undervalued despite its extremely high sales multiple, arguing that Starship, orbital data centers and other businesses could eventually support annual revenue approaching $10 trillion. Longtime investor Ron Baron also said he would support a Tesla-SpaceX merger if Elon Musk pursues one. Cathie Wood SpaceX revenue projection article
• Neutral Sentiment: Analysts remain divided: bullish projections depend on successful Starship commercialization, rapid Starlink subscriber growth and orbital AI infrastructure, while skeptics view the valuation as difficult to justify using current revenue.
• Negative Sentiment: Approximately 328 million additional shares are expected to become eligible for sale on September 24, with further lockup expirations through 2027. Potential insider selling could increase the supply of SPCX shares and create near-term price pressure. SpaceX share unlock article
• Negative Sentiment: SpaceX is committing substantial capital to AI and orbital data-center plans, which remain unproven technologically. Any Starship setback or failure to commercialize these projects would expose the stock’s exceptionally high valuation.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised SpaceX from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Piper Sandler reduced their target price on SpaceX from $156.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Barclays upgraded shares of SpaceX from an “underweight” rating to an “overweight” rating in a report on Monday, June 22nd. KGI Securities downgraded shares of SpaceX from an “outperform” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Seaport Research Partners lowered shares of SpaceX from a “buy” rating to a “neutral” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have assigned a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $221.42.

SpaceX Trading Up 5.2%

The company’s 50-day moving average price is $134.43. The firm has a market cap of $1.97 trillion and a P/E ratio of -1,676.44. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12.

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, beating the consensus estimate of ($0.26) by $0.17. The business had revenue of $7.81 billion during the quarter. The company’s revenue for the quarter was up 91.9% compared to the same quarter last year. On average, equities analysts predict that SpaceX will post -0.15 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Syntax Research Inc. bought a new stake in shares of SpaceX during the second quarter valued at approximately $26,000. Atwood & Palmer Inc. acquired a new position in SpaceX during the second quarter worth $29,000. PayPay Securities Corp bought a new position in shares of SpaceX in the second quarter valued at $30,000. Marquette Asset Management LLC acquired a new position in shares of SpaceX during the second quarter valued at about $32,000. Finally, Community Bank N.A. bought a new stake in shares of SpaceX during the second quarter worth about $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.