SpaceX (NASDAQ:SPCX) Stock Keeps “Buy” Rating at TD Cowen

SpaceX (NASDAQ:SPCX)‘s stock had its “buy” rating reissued by stock analysts at TD Cowen in a research note issued on Friday, Marketbeat reports. They currently have a $200.00 price target on the stock. TD Cowen’s target price would indicate a potential upside of 27.70% from the stock’s current price.

Several other brokerages have also issued reports on SPCX. Weiss Ratings assumed coverage on SpaceX in a research report on Tuesday, September 1st. They issued a “sell (d)” rating for the company. The Goldman Sachs Group restated a “buy” rating on shares of SpaceX in a research note on Tuesday, September 29th. Zacks Research upgraded SpaceX to a “hold” rating in a research report on Monday, June 15th. DZ Bank assumed coverage on SpaceX in a report on Friday, August 21st. They set a “sell” rating and a $100.00 price target on the stock. Finally, Morgan Stanley reissued an “overweight” rating on shares of SpaceX in a report on Tuesday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.06.

SpaceX Trading Down 4.2%

Shares of SPCX traded down $6.81 during mid-day trading on Friday, hitting $156.61. 53,912,166 shares of the company traded hands, compared to its average volume of 101,436,406. The business has a 50-day simple moving average of $146.01. The stock has a market capitalization of $2.06 trillion and a PE ratio of -1,740.71. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. SpaceX has a one year low of $104.83 and a one year high of $225.64.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.17. The company had revenue of $7.81 billion during the quarter. The firm’s quarterly revenue was up 91.9% on a year-over-year basis. As a group, analysts anticipate that SpaceX will post 0.09 earnings per share for the current year.

Insider Activity

In related news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction on 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 $379,630,414.95. This represents a 12.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hedge Funds Weigh In On SpaceX

Several hedge funds have recently made changes to their positions in SPCX. Ring Mountain Capital LLC boosted its stake in shares of SpaceX by 27.2% during the 3rd quarter. Ring Mountain Capital LLC now owns 5,803 shares of the company’s stock worth $875,000 after acquiring an additional 1,242 shares in the last quarter. Compass Financial Group INC SD acquired a new stake in SpaceX in the 3rd quarter valued at about $492,000. Worthington Financial Partners LLC raised its holdings in SpaceX by 3.0% in the 3rd quarter. Worthington Financial Partners LLC now owns 4,883 shares of the company’s stock valued at $737,000 after acquiring an additional 142 shares during the last quarter. Sax Wealth Advisors LLC acquired a new stake in shares of SpaceX during the 3rd quarter worth approximately $2,318,000. Finally, Fragasso Financial Advisors Inc purchased a new position in shares of SpaceX during the 3rd quarter worth approximately $272,000.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX successfully launched approximately 6,300 pounds of supplies and equipment to the International Space Station, reinforcing its operational reliability and the value of its commercial launch business. SpaceX successfully launches cargo to the International Space Station
• Positive Sentiment: The company is seeking approval for as many as 456 Starship launches annually using reusable rockets. While far above its current launch cadence, the proposal highlights the potential for substantially lower launch costs and higher capacity if Starship scales successfully. SpaceX seeks approval for 456 yearly Starship launches
• Positive Sentiment: Analysts continue to cite Starlink’s growth, a potential mobile-carrier business and future Starship launches as long-term catalysts. Morgan Stanley maintained a $300 price target, while other coverage points to Starlink’s opportunity in aviation and direct-to-cell services.
• Neutral Sentiment: SpaceX agreed to testify before New York City officials in an artificial-intelligence safety investigation after receiving a subpoena. The appearance does not establish wrongdoing, but it adds near-term regulatory and reputational uncertainty. SpaceX agrees to testify to NYC Council about AI safety
• Negative Sentiment: Investors remain concerned about SpaceX’s planned borrowing, including reports of as much as $40 billion in new debt to fund Nvidia chips and its AI build-out. Rising credit-default protection costs suggest bond investors are increasingly worried about leverage, cash burn and execution risk. Bond investors are wary of SpaceX borrowing
• Negative Sentiment: Commentary questioning whether Starlink can compete economically with large terrestrial carriers has tempered enthusiasm around the spectrum acquisition. Critics argue satellite networks cannot match urban 5G capacity, while the company’s very high valuation leaves little room for delays or setbacks.

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 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.