Gryphon Financial Partners LLC Acquires New Shares in SpaceX $SPCX

Gryphon Financial Partners LLC acquired a new stake in SpaceX (NASDAQ:SPCX) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,213 shares of the company’s stock, valued at approximately $636,000.

Other hedge funds have also added to or reduced their stakes in the company. SC US Ttgp LTD. acquired a new position in SpaceX in the 2nd quarter valued at approximately $20,933,621,000. Darsana Capital Partners LP bought a new position in shares of SpaceX during the second quarter valued at $17,335,783,000. K5 Global Advisor LLC bought a new position in shares of SpaceX during the second quarter valued at $6,587,531,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of SpaceX during the third quarter worth $4,224,143,000. Finally, Thrive Capital Management LLC acquired a new position in shares of SpaceX during the second quarter worth $3,231,681,000.

Wall Street Analysts Forecast Growth

SPCX has been the subject of a number of recent research reports. CLSA assumed coverage on SpaceX in a report on Monday, September 28th. They issued an “outperform” rating and a $250.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $250.00 target price on shares of SpaceX in a research report on Wednesday, October 21st. UBS Group reaffirmed an “overweight” rating and set a $300.00 target price on shares of SpaceX in a report on Wednesday, October 21st. Oppenheimer upped their price target on SpaceX from $250.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, September 2nd. Finally, Evercore reissued an “outperform” rating and issued a $275.00 price target on shares of SpaceX in a research note on Friday, October 16th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, SpaceX currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.60.

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 stock was sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the sale, 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 document filed 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.

SpaceX News Roundup

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

SpaceX Stock Performance

NASDAQ:SPCX opened at $143.09 on Wednesday. The company has a fifty day moving average price of $149.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.00 and a current ratio of 3.08. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The company has a market cap of $1.94 trillion and a price-to-earnings ratio of 550.35.

SpaceX (NASDAQ:SPCX) last announced its earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.25. The business 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 quarterly revenue was up 161.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.36) EPS. As a group, sell-side analysts anticipate that SpaceX will post 0.19 earnings per share for the current year.

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.