SpaceX (NASDAQ:SPCX) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of SpaceX (NASDAQ:SPCX) from a sell rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

SPCX has been the subject of several other reports. Canaccord Genuity Group initiated coverage on shares of SpaceX in a research note on Tuesday, July 7th. They issued a “buy” rating and a $246.00 target price for the company. Wolfe Research restated an “outperform” rating and set a $175.00 price target on shares of SpaceX in a research report on Wednesday, August 26th. HSBC reaffirmed a “hold” rating on shares of SpaceX in a report on Wednesday. KeyCorp reaffirmed a “sector weight” rating on shares of SpaceX in a report on Wednesday. Finally, Wells Fargo & Company upped their price objective on shares of SpaceX from $214.00 to $274.00 and gave the stock an “overweight” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.19.

SpaceX Trading Up 1.9%

Shares of NASDAQ:SPCX opened at $147.49 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64. The firm has a 50 day moving average of $149.40. The firm has a market capitalization of $1.94 trillion and a P/E ratio of -1,638.78.

SpaceX (NASDAQ:SPCX) last issued 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 firm had revenue of $14.57 billion for the quarter. SpaceX’s revenue for the quarter was up 161.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.36) earnings per share. Equities research analysts predict that SpaceX will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Investors Weigh In On SpaceX

A number of institutional investors have recently added to or reduced their stakes in SPCX. Apollon Wealth Management LLC increased its holdings in shares of SpaceX by 102.0% in the third quarter. Apollon Wealth Management LLC now owns 84,579 shares of the company’s stock valued at $12,760,000 after purchasing an additional 42,710 shares during the last quarter. Aries Wealth Management purchased a new position in SpaceX during the third quarter worth approximately $740,000. Purewater Capital LLC purchased a new position in SpaceX during the third quarter worth approximately $4,314,000. Sigma Planning Corp boosted its stake in SpaceX by 63.1% during the third quarter. Sigma Planning Corp now owns 34,670 shares of the company’s stock worth $5,230,000 after buying an additional 13,415 shares during the last quarter. Finally, Dedeker Financial LLC boosted its stake in SpaceX by 8.0% during the third quarter. Dedeker Financial LLC now owns 1,697 shares of the company’s stock worth $256,000 after buying an additional 125 shares during the last quarter.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong earnings and AI growth supported the rebound. SpaceX reported third-quarter revenue of $14.58 billion, up 161% year over year, and earnings per share of $0.35 versus analysts’ $0.10 estimate. Its AI segment reportedly generated $431 million in net income, helping offset losses in the launch business. Fantastic News for SpaceX Stock Investors
• Positive Sentiment: Analyst sentiment improved sharply. PhilipCapital upgraded SpaceX from “Sell” to “Buy” and raised its price target from $75 to $250. Bank of America also lifted its target to $275, citing stronger growth prospects and Starship milestones. SpaceX Just Scored a Double Upgrade
• Positive Sentiment: Wireless ambitions broaden the growth story. Reports that SpaceX is seeking access to at least 80,000 U.S. cell sites suggest Starlink could evolve into a nationwide wireless carrier, potentially creating a major new revenue stream. The news pressured telecom stocks while benefiting tower owners. SpaceX Seeks Access to 80,000 US Cell Sites
• Neutral Sentiment: A potential Tesla (NASDAQ: TSLA) merger remains speculative. Elon Musk called the combination a “good idea,” but valuation, conflicts of interest, shareholder approval, antitrust review and Tesla’s China operations could delay or prevent a transaction. SpaceX-Tesla Merger Chatter
• Negative Sentiment: Funding and cash-burn concerns remain significant. SpaceX reportedly burned more than $9.9 billion in free cash flow during the quarter and is raising approximately $40 billion of debt at relatively high interest rates to finance AI and other expansion plans. SpaceX $40 Billion Debt Deal
• Negative Sentiment: Execution and reputational risks could limit upside. The launch division was unprofitable because of heavy research spending, while reports of continuing Starlink restrictions in Ukraine could threaten government relationships and future contracts. In addition, upcoming insider share unlocks may increase supply. Ukraine Says Starlink Restrictions Remain

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.