SpaceX (NASDAQ:SPCX) Shares Up 8.6% – Here’s What Happened

SpaceX (NASDAQ:SPCX) shares shot up 8.6% during trading on Friday. The stock traded as high as $135.32 and last traded at $134.27. 114,251,907 shares were traded during mid-day trading, an increase of 10% from the average session volume of 103,713,539 shares. The stock had previously closed at $123.62.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX is recovering after a two-day slide pushed shares below the $135 IPO price. A broader rebound in technology stocks is helping lift the stock, though the move does not remove the concerns behind the recent decline. Why SpaceX Stock Is Up Today
• Positive Sentiment: The Qualcomm partnership to build Starlink Mobile’s 5G network, with deployment planned to start in 2027, offers a potential new growth avenue beyond satellite service. Google also reportedly bought additional SpaceX shares last quarter, a supportive signal of investor interest. SpaceX and Qualcomm 5G partnership Google’s SpaceX investment
• Neutral Sentiment: Texas’ incoming Democratic governor, Gina Hinojosa, has raised concern among investors because she campaigned on pausing new data-center construction, which could affect SpaceX’s AI expansion. The near-term impact remains uncertain. Texas governor-elect and SpaceX investors
• Negative Sentiment: Democrats’ wins in Texas and control of Congress have fueled worries about tighter scrutiny, permitting hurdles for data centers, and a less certain outlook for a potential Tesla–SpaceX merger. These concerns drove the recent selloff and remain an overhang. Election results cloud SpaceX data-center and merger outlook
• Negative Sentiment: SpaceX’s mobile-network ambitions may require substantial spending: Deutsche Telekom’s CEO said competing with established carriers would require a costly land-based network. That raises questions about the capital and execution needed to turn the 5G opportunity into returns. Deutsche Telekom CEO on SpaceX’s mobile ambitions

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SPCX. Needham & Company LLC restated a “buy” rating and set a $250.00 price target on shares of SpaceX in a research note on Wednesday, October 21st. HSBC reiterated a “hold” rating on shares of SpaceX in a research note on Wednesday, October 21st. Moffett Nathanson upped their price objective on SpaceX from $131.00 to $142.00 and gave the stock a “neutral” rating in a research note on Monday, September 14th. Wolfe Research reaffirmed an “outperform” rating and issued a $175.00 target price on shares of SpaceX in a report on Wednesday, August 26th. Finally, UBS Group reiterated an “overweight” rating and set a $300.00 target price on shares of SpaceX in a research report on Wednesday, October 21st. Four research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $243.60.

SpaceX Trading Up 8.6%

The company has a current ratio of 3.08, a quick ratio of 3.00 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average of $149.32. The stock has a market capitalization of $1.82 trillion and a price-to-earnings ratio of 516.42.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.25. The company had revenue of $14.57 billion for the quarter. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The company’s revenue for the quarter was up 161.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.36) EPS. As a group, equities analysts forecast that SpaceX will post 0.19 earnings per share for the current fiscal year.

Insider Activity at SpaceX

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

Institutional Trading of SpaceX

Several institutional investors and hedge funds have recently modified their holdings of the stock. James T. Borello RIA lifted its stake in SpaceX by 41.4% in the 3rd quarter. James T. Borello RIA now owns 246 shares of the company’s stock worth $37,000 after acquiring an additional 72 shares in the last quarter. Oakworth Capital Inc. boosted its position in SpaceX by 17.8% during the third quarter. Oakworth Capital Inc. now owns 483 shares of the company’s stock valued at $73,000 after purchasing an additional 73 shares during the last quarter. Fonville Wealth Management LLC grew its stake in SpaceX by 3.8% in the third quarter. Fonville Wealth Management LLC now owns 2,719 shares of the company’s stock valued at $410,000 after purchasing an additional 99 shares in the last quarter. Downshift Financial LLC increased its position in SpaceX by 25.7% in the 3rd quarter. Downshift Financial LLC now owns 553 shares of the company’s stock worth $83,000 after purchasing an additional 113 shares during the last quarter. Finally, Balance Wealth Partners LLC increased its position in SpaceX by 5.7% in the 3rd quarter. Balance Wealth Partners LLC now owns 2,261 shares of the company’s stock worth $341,000 after purchasing an additional 121 shares during the last quarter.

About SpaceX

Space Exploration Technologies Corp., commonly known as SpaceX, is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles and spacecraft designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s principal products and services include the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starlink satellite communications network. Falcon rockets are used to launch satellites, cargo and crew, while Dragon spacecraft support transportation to and from low Earth orbit.