Cornerstone Wealth Management LLC Buys 9,238 Shares of SpaceX $SPCX

Cornerstone Wealth Management LLC grew its position in shares of SpaceX (NASDAQ:SPCX) by 75.1% during the third quarter, Holdings Channel reports. The firm owned 21,540 shares of the company’s stock after acquiring an additional 9,238 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in SpaceX were worth $3,250,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SPCX. Viking Fund Management LLC acquired a new stake in shares of SpaceX during the third quarter worth about $1,358,000. Diversify Advisory Services LLC lifted its stake in shares of SpaceX by 34.0% in the 3rd quarter. Diversify Advisory Services LLC now owns 48,477 shares of the company’s stock worth $7,205,000 after acquiring an additional 12,292 shares during the period. Avior Wealth Management LLC acquired a new position in SpaceX during the 3rd quarter worth approximately $2,934,000. Wedbush Securities Inc. purchased a new position in SpaceX in the second quarter worth $5,094,000. Finally, Apella Capital LLC increased its holdings in shares of SpaceX by 218.2% in the 3rd quarter. Apella Capital LLC now owns 8,424 shares of the company’s stock valued at $1,412,000 after purchasing an additional 5,777 shares in the last quarter.

Trending Headlines about SpaceX

Here are a few of the latest headlines about SPCX:

• Positive Sentiment: The FCC accepted SpaceX’s application to acquire 546 spectrum licenses, a step toward its planned nationwide 5G push with Starlink. The deal could expand the company’s addressable market, though it still requires regulatory approval. Article: SpaceX Scores Key FCC Breakthrough in $8 Billion Spectrum Deal
• Positive Sentiment: Recent coverage also highlighted strong operating momentum: SpaceX reported record quarterly revenue of about $14.6 billion, up 161% year over year, and a $4.4 billion profit. Its expanding AI and Starlink businesses offer longer-term growth potential. Article: Is SpaceX Stock a Bargain at Today’s Prices?
• Negative Sentiment: Near-term caution centers on Friday’s Starship Flight 15: SpaceX plans to catch both rocket stages with its launch tower, a first for the company and an unproven maneuver. A failed recovery could delay progress on reusability; the launch uncertainty has been cited as a source of investor jitters. Article: SpaceX shares slip amid upcoming Starship test flight jitters

SpaceX Stock Down 2.3%

Shares of NASDAQ SPCX opened at $139.75 on Thursday. The company’s fifty day moving average is $149.13. SpaceX has a 52-week low of $104.83 and a 52-week high of $225.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00. The stock has a market cap of $1.90 trillion and a PE ratio of 537.50.

SpaceX (NASDAQ:SPCX) last released its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.25. The company had revenue of $14.57 billion during the quarter. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. SpaceX’s revenue was up 161.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.36) EPS. Equities research analysts expect that SpaceX will post 0.22 EPS for the current fiscal 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 shares were sold at an average price of $153.57, for a total value of $52,547,046.90. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SPCX. Morgan Stanley reaffirmed an “overweight” rating on shares of SpaceX in a research note on Wednesday, October 21st. Wells Fargo & Company lifted their price objective on SpaceX from $214.00 to $274.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 21st. UBS Group reissued an “overweight” rating and issued a $300.00 target price on shares of SpaceX in a research note on Wednesday, October 21st. Phillip Securities upgraded shares of SpaceX from a “strong sell” rating to a “strong-buy” rating in a report on Friday, October 23rd. Finally, Cantor Fitzgerald raised their price target on shares of SpaceX from $246.00 to $345.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 20th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.60.

SpaceX Profile

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.