SpaceX (NASDAQ:SPCX) Trading Down 2.6% – What’s Next?

SpaceX (NASDAQ:SPCX) was down 2.6% on Wednesday . The stock traded as low as $136.72 and last traded at $139.65. Approximately 75,323,616 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 114,313,078 shares. The stock had previously closed at $143.34.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Starlink is nearing 11,000 satellites in orbit after another 24-satellite launch, reinforcing the network’s scale and recurring-revenue potential. SpaceX has also completed its 100th launch of 2026. SpaceX stock rises as Starlink nears 11,000 satellites in orbit
• Positive Sentiment: CEO Elon Musk outlined a potentially transformational long-term opportunity, saying Starship could eventually support as many as 10,000 launches annually by 2030. Separately, a U.S. policy goal of 1,000 launches per year could benefit launch providers, including SpaceX. Elon Musk Says SPCX Could Reach 10,000 Starship Launches Annually by 2030
• Neutral Sentiment: SpaceX’s record IPO is being used as a benchmark for a potential Anthropic offering. The comparison highlights investor demand for high-growth technology assets, although a large Anthropic IPO could also compete for capital and attention. SpaceX’s Record IPO Left University Endowments With Billion-Dollar Stakes
• Negative Sentiment: A second post-IPO lockup expiration made approximately 319 million insider and early-investor shares eligible for trading, creating an estimated $43 billion-plus potential supply overhang. Additional shares are expected to unlock in September and later periods. SpaceX Stock Falls Below $135 after Second Unlock
• Negative Sentiment: DZ Bank initiated coverage with a Sell rating and a $100 price target, citing potentially enormous capital requirements—reportedly up to $800 billion—despite rapid revenue growth. DZ Bank Tells Clients To Sell SpaceX
• Negative Sentiment: Delays to the planned Starship tower catch and a scrubbed Starlink launch added execution concerns, while China’s LandSpace demonstrated progress with a reusable rocket. SpaceX Stock Slides Amid Share Unlock Concerns and Chinese Competition

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. initiated coverage on SpaceX in a report on Tuesday, July 7th. They issued an “overweight” rating and a $225.00 price target for the company. Guggenheim initiated coverage on shares of SpaceX in a research note on Friday, August 7th. They issued a “buy” rating for the company. Benchmark started coverage on shares of SpaceX in a report on Monday, June 22nd. They set a “buy” rating for the company. New Street Research upgraded shares of SpaceX to a “strong-buy” rating in a report on Thursday, June 11th. Finally, Susquehanna cut shares of SpaceX from a “neutral” rating to an “underperform” rating in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.20.

SpaceX Trading Up 1.9%

The company has a market capitalization of $1.79 trillion and a P/E ratio of -1,517.44. The firm has a 50-day moving average price of $142.80. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.17. The company had revenue of $7.81 billion for the quarter. The company’s revenue was up 91.9% on a year-over-year basis. As a group, analysts anticipate that SpaceX will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On SpaceX

A number of institutional investors have recently made changes to their positions in SPCX. Atwood & Palmer Inc. bought a new position in SpaceX during the second quarter worth $29,000. Marquette Asset Management LLC bought a new stake in SpaceX during the second quarter valued at $32,000. Orion Capital Management LLC acquired a new stake in shares of SpaceX during the second quarter worth $70,000. Burkett Financial Services LLC bought a new position in shares of SpaceX in the 2nd quarter worth about $70,000. Finally, Contravisory Investment Management Inc. bought a new position in shares of SpaceX in the 2nd quarter worth about $73,000.

SpaceX Company Profile

SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.

Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.