29,046 Shares in SpaceX $SPCX Bought by J. Derek Lewis & Associates Inc.

Key Points

• J. Derek Lewis & Associates opened a SpaceX position, buying 29,046 shares valued at about $4.38 million. The stock represents roughly 0.8% of the fund’s portfolio.
• Analyst sentiment is broadly positive: SpaceX has a “Moderate Buy” consensus rating and a $243.60 average price target. Barclays and Cantor Fitzgerald recently raised their targets to $300 and $345, respectively.
• SpaceX reported quarterly EPS of $0.35, beating the $0.10 estimate, while revenue rose 161.4% year over year to $14.57 billion.

J. Derek Lewis & Associates Inc. bought a new position in SpaceX (NASDAQ:SPCX - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 29,046 shares of the company's stock, valued at approximately $4,382,000. SpaceX comprises approximately 0.8% of J. Derek Lewis & Associates Inc.'s investment portfolio, making the stock its 25th biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Syntax Research Inc. acquired a new position in SpaceX during the second quarter valued at approximately $26,000. Atwood & Palmer Inc. bought a new position in shares of SpaceX in the second quarter valued at approximately $29,000. PayPay Securities Corp acquired a new stake in shares of SpaceX in the second quarter worth $30,000. Hickory Point Bank & Trust acquired a new stake in shares of SpaceX in the third quarter worth $30,000. Finally, Maryland Capital Advisors Inc. acquired a new stake in shares of SpaceX in the third quarter worth $30,000.

Analysts Set New Price Targets

SPCX has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating and set a $245.00 price objective on shares of SpaceX in a report on Wednesday, October 21st. Royal Bank Of Canada reiterated an "outperform" rating on shares of SpaceX in a report on Monday, October 19th. Barclays boosted their target price on shares of SpaceX from $254.00 to $300.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 21st. Cantor Fitzgerald upped their price target on shares of SpaceX from $246.00 to $345.00 and gave the company an "overweight" rating in a report on Tuesday, October 20th. Finally, Phillip Securities upgraded shares of SpaceX from a "strong sell" rating to a "strong-buy" rating in a report on Friday, October 23rd. Four 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, SpaceX currently has an average rating of "Moderate Buy" and a consensus target price of $243.60.

SpaceX Stock Up 8.6%

Shares of SPCX opened at $134.27 on Friday. The firm's 50-day moving average price is $149.18. The company has a quick ratio of 3.00, a current ratio of 3.08 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.82 trillion and a price-to-earnings ratio of 516.42. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64.

SpaceX (NASDAQ:SPCX - Get Free Report) last announced 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. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The company had revenue of $14.57 billion during the quarter. During the same quarter in the prior year, the business posted ($0.36) EPS. SpaceX's revenue was up 161.4% compared to the same quarter last year. Equities research analysts expect that SpaceX will post 0.19 EPS for the current year.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Musk said SpaceX could exceed $500 billion in annual recurring revenue by December 2027, a forecast well above Wall Street expectations. He also pointed to U.S. government contracts as a growing revenue source, helping lift growth sentiment. Article: Musk Says SpaceX Will Hit a Revenue Number That Not One of Its 37 Analysts Believes
• Positive Sentiment: SpaceX’s partnership with Qualcomm to support Starlink Mobile’s planned 5G network offers a potential new telecom growth avenue, with deployment expected to begin in 2027. Article: Can SPCX’s Tie-Up With Qualcomm Strengthen Its Position in the 5G Market?
• Neutral Sentiment: Director Donald Harrison resigned from SpaceX’s board effective November 4. The announcement did not provide a reason, so the immediate business impact is unclear. Article: SpaceX Director Donald Harrison Resigns from Board
• Negative Sentiment: Democratic gains in Congress and Texas raised concerns about scrutiny, permitting and data-center expansion—important to SpaceX’s AI ambitions—and helped drive the recent selloff. Friday’s rebound recouped some of those losses, but the policy uncertainty remains. Article: Why SpaceX Stock Is Up Today
• Negative Sentiment: SpaceX’s wireless ambitions may require substantial spending and face tough competition. Deutsche Telekom’s CEO said building a rival mobile network would require a costly terrestrial footprint, highlighting execution and financing risks alongside the growth opportunity. Article: Deutsche Telekom CEO Says SpaceX Has a Massive Mountain to Climb to Compete in Mobile

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 stock was sold at an average price of $153.57, for a total value of $52,547,046.90. Following the completion of the transaction, the chief operating officer directly owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. This represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Company 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.

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