SpaceX (NASDAQ:SPCX) Stock Price Down 2.2% – Here’s Why

SpaceX (NASDAQ:SPCX)’s stock price fell 2.2% on Monday. The company traded as low as $145.36 and last traded at $145.47. Approximately 81,549,723 shares were traded during trading, a decline of 21% from the average daily volume of 103,514,039 shares. The stock had previously closed at $148.68.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Starship reached orbit for the first time on Flight 14 and deployed 26 next-generation Starlink V3 satellites. The achievement supports SpaceX’s plans to expand Starlink capacity, generate launch-related revenue and eventually make Starship reusable at high frequency. SpaceX’s Starship reaches orbit for first time despite engine shutdown
• Positive Sentiment: The successful deployment strengthens the investment case for Starlink, whose larger-capacity satellites could support additional subscribers and data demand. Some investors view Starship as a potential catalyst for turning Starlink into a larger cash-generation platform. SpaceX Dip Buyer Bets Starship Turns Starlink Into a Bigger Cash Cow
• Positive Sentiment: Wall Street support remains favorable. Sanford C. Bernstein reaffirmed a Buy rating, while CLSA initiated coverage with an Outperform rating and a $250 price target. Evercore ISI also highlighted the potential for a significant 2027 sales ramp. SpaceX stock keeps Buy rating at Sanford C. Bernstein
• Neutral Sentiment: One of Starship’s three Raptor engines shut down after reaching space. The vehicle still achieved orbit and completed its satellite deployment, but the early end to the mission leaves additional testing and reliability work before routine commercial operations. SpaceX Gets Starship Into Orbit for First Time, Despite Engine Issue
• Negative Sentiment: The stock’s muted-to-negative reaction suggests the orbital success was partly priced in following a sharp recent recovery. Commentary continues to warn that SpaceX’s roughly $2 trillion valuation and ambitious AI, Starlink and sales projections leave little room for execution misses. SpaceX valuation leaves small margin for error
• Negative Sentiment: President and COO Gwynne Shotwell reportedly filed to sell approximately $52 million of SPCX stock. While such sales may be planned for personal liquidity or diversification, they can add near-term supply and investor caution. SpaceX COO sells $52 million in stock

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group initiated coverage on shares of SpaceX in a report on Tuesday, July 7th. They issued a “buy” rating and a $246.00 price objective for the company. Morgan Stanley reiterated an “overweight” rating and set a $300.00 target price on shares of SpaceX in a research note on Wednesday, August 26th. JPMorgan Chase & Co. reissued a “buy” rating on shares of SpaceX in a report on Tuesday, August 25th. Royal Bank Of Canada restated an “outperform” rating on shares of SpaceX in a research note on Monday. Finally, Raymond James Financial downgraded SpaceX from a “strong-buy” rating to a “strong sell” rating in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, seven have issued a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $219.24.

SpaceX Stock Performance

The company has a market capitalization of $1.92 trillion and a price-to-earnings ratio of -1,615.89. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average of $136.41.

SpaceX (NASDAQ:SPCX) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.17. The firm had revenue of $7.81 billion for the quarter. The company’s revenue was up 91.9% compared to the same quarter last year. As a group, equities research analysts expect that SpaceX will post -0.15 EPS for the current year.

Insider Transactions at SpaceX

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total value of $52,547,046.90. Following the transaction, the chief operating officer directly owned 2,472,035 shares of the company’s stock, valued at approximately $379,630,414.95. This trade represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hedge Funds Weigh In On SpaceX

Several institutional investors have recently made changes to their positions in SPCX. QRG Capital Management Inc. purchased a new position in shares of SpaceX in the second quarter worth approximately $8,632,000. Envestnet Portfolio Solutions Inc. bought a new position in SpaceX in the second quarter worth approximately $1,274,000. State Street Corp purchased a new position in shares of SpaceX during the 2nd quarter worth $1,858,329,000. Security National Bank of SO Dak purchased a new stake in shares of SpaceX in the 2nd quarter worth $48,000. Finally, HBK Investments L P bought a new position in SpaceX in the 2nd quarter worth $40,579,000.

About SpaceX

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 designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.