SpaceX (NASDAQ:SPCX) Shares Down 2.3% – Should You Sell?

SpaceX (NASDAQ:SPCX)’s share price dropped 2.3% during mid-day trading on Thursday. The stock traded as low as $140.66 and last traded at $148.62. Approximately 97,693,649 shares changed hands during trading, a decline of 3% from the average session volume of 101,205,969 shares. The stock had previously closed at $152.16.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Starlink continues to expand commercially. United Airlines now offers Starlink Wi-Fi on more than 635 aircraft—nearly half its fleet—while American Airlines plans installations on more than 1,030 aircraft. The rollout supports Starlink’s potential to become a larger recurring-revenue business. SpaceX expands Starlink with United Airlines
• Positive Sentiment: Google reportedly agreed to rent SpaceX computing capacity for approximately $920 million per month under a 33-month contract worth up to $30 billion. Investors view the deal as potential validation of SpaceX’s AI and orbital data-center strategy, although the full value is not guaranteed. Google SpaceX computing contract
• Positive Sentiment: Analysts remain bullish, with Morgan Stanley maintaining a $300 target and Raymond James reiterating a Strong Buy rating with an $800 target. These forecasts reflect optimism about Starlink, launch services, AI infrastructure, and future mobile connectivity. Morgan Stanley SpaceX price target
• Neutral Sentiment: Reports continue to speculate that SpaceX and Tesla could announce a merger before December. Barclays raised the possibility, but neither company has confirmed negotiations, and prediction markets reportedly assign low odds to an imminent deal. Tesla SpaceX merger speculation
• Negative Sentiment: Ukraine says new speed restrictions on military Starlink terminals disrupted drone operations. Elon Musk blamed the U.S. government and President Trump, while reports say service was later partially restored. The episode raises reputational, regulatory, customer-retention, and government-contract risks for SpaceX’s satellite business. Musk comments on Ukraine Starshield restrictions
• Negative Sentiment: Investors are also concerned about valuation and execution. SpaceX is pursuing expensive wireless, AI, chip-manufacturing, and space-infrastructure projects, reportedly seeking as much as $40 billion in new debt. An upcoming insider share unlock of up to 1.3 billion shares could add further selling pressure. SpaceX capital requirements

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SPCX. Arete Research set a $450.00 target price on shares of SpaceX in a research report on Tuesday, August 11th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of SpaceX in a research report on Wednesday. Sanford C. Bernstein reiterated a “buy” rating on shares of SpaceX in a research note on Monday, September 28th. The Goldman Sachs Group reiterated a “buy” rating on shares of SpaceX in a research report on Tuesday, September 29th. Finally, Canaccord Genuity Group started coverage on SpaceX in a research note on Tuesday, July 7th. They issued a “buy” rating and a $246.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, nine have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, SpaceX currently has an average rating of “Moderate Buy” and an average target price of $220.06.

SpaceX Stock Down 2.3%

The company has a market capitalization of $1.96 trillion and a P/E ratio of -1,651.33. The stock has a 50 day moving average of $147.51. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data 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 company had revenue of $7.81 billion for the quarter. SpaceX’s revenue was up 91.9% compared to the same quarter last year. Analysts forecast that SpaceX will post 0.07 EPS for the current year.

Insider Buying and Selling at SpaceX

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the completion of the sale, the chief operating officer owned 2,472,035 shares of the company’s stock, valued at approximately $379,630,414.95. The trade was a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 hedge funds and other institutional investors have recently modified their holdings of SPCX. Syntax Research Inc. acquired a new stake in SpaceX during the 2nd quarter worth approximately $26,000. Atwood & Palmer Inc. acquired a new position in SpaceX during the second quarter valued at approximately $29,000. PayPay Securities Corp acquired a new position in SpaceX during the second quarter valued at approximately $30,000. Marquette Asset Management LLC purchased a new stake in SpaceX during the second quarter worth approximately $32,000. Finally, Hickory Point Bank & Trust purchased a new position in shares of SpaceX in the 3rd quarter valued at $30,000.

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.