488,938 Shares in SpaceX $SPCX Purchased by Lunate Capital Ltd

Lunate Capital Ltd bought a new position in shares of SpaceX (NASDAQ:SPCX) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 488,938 shares of the company’s stock, valued at approximately $73,761,000. SpaceX makes up 10.3% of Lunate Capital Ltd’s portfolio, making the stock its 3rd largest holding.

Several other institutional investors have also bought and sold shares of SPCX. Syntax Research Inc. bought a new stake in SpaceX in the second quarter valued at $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 during the second quarter valued at $30,000. Marquette Asset Management LLC bought a new position in shares of SpaceX during the second quarter valued at $32,000. Finally, Hickory Point Bank & Trust acquired a new stake in shares of SpaceX in the 3rd quarter valued at $30,000.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $245.00 target price on shares of SpaceX in a report on Wednesday, October 21st. China Renaissance assumed coverage on shares of SpaceX in a research report on Thursday, November 5th. They set a “buy” rating and a $194.20 target price for the company. Royal Bank Of Canada reissued an “outperform” rating on shares of SpaceX in a report on Monday, October 19th. Citigroup boosted their price target on shares of SpaceX from $200.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. Finally, Weiss Ratings started coverage on shares of SpaceX in a research note on Tuesday, September 1st. They set a “sell (d)” rating on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, SpaceX presently has an average rating of “Moderate Buy” and a consensus target price of $243.60.

SpaceX Price Performance

SPCX stock opened at $143.09 on Wednesday. The company’s fifty day simple moving average is $149.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00. SpaceX has a fifty-two week low of $104.83 and a fifty-two week high of $225.64. The firm has a market cap of $1.94 trillion and a PE ratio of 550.35.

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

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX will compete for up to $10 billion in NASA lunar-base contracts, adding a potential source of business beyond launches and satellite services. The contracts have not yet been awarded. Article: SpaceX to compete for NASA lunar-base contracts
• Positive Sentiment: SpaceX’s AI-computing plans are attracting investor and analyst attention. Deutsche Bank sees tighter data-center rules potentially benefiting the company by limiting available computing capacity and supporting higher prices; reported AI-computing arrangements could also create a new revenue stream. Article: Deutsche Bank on SpaceX and data-center rules
• Neutral Sentiment: The proposed $24 billion Starbase data center and gas-fired power plant could expand SpaceX’s AI capacity and provide dedicated energy, but it remains a plan rather than an operating asset. Article: SpaceX plans a Starbase data center and gas plant
• Negative Sentiment: The Texas project faces policy uncertainty: Governor-elect Gina Hinojosa has supported pausing new hyperscale data centers, and SpaceX is seeking tax breaks. Delays or restrictions could impede the expansion. Article: Texas AI project faces policy hurdles
• Negative Sentiment: Analysts and commentators have flagged the cost of SpaceX’s AI buildout and energy investments, which could pressure cash flow if revenue growth does not justify the heavy spending. Article: SpaceX’s energy investments and cash-flow risk

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.