Allworth Financial LP Purchases New Shares in SpaceX $SPCX

Allworth Financial LP bought a new position in shares of SpaceX (NASDAQ:SPCX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,000 shares of the company's stock, valued at approximately $2,563,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Syntax Research Inc. acquired a new position in SpaceX in the second quarter valued at about $26,000. Atwood & Palmer Inc. bought a new position in SpaceX in the 2nd quarter valued at about $29,000. PayPay Securities Corp acquired a new position in shares of SpaceX in the 2nd quarter valued at approximately $30,000. Marquette Asset Management LLC bought a new stake in shares of SpaceX during the 2nd quarter worth approximately $32,000. Finally, POM Investment Strategies LLC acquired a new stake in shares of SpaceX during the 2nd quarter worth approximately $39,000.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SPCX shares. Morgan Stanley reissued an "overweight" rating on shares of SpaceX in a research note on Wednesday, August 26th. Clear Str raised SpaceX to a "strong-buy" rating in a report on Tuesday, July 7th. Moffett Nathanson initiated coverage on SpaceX in a research note on Tuesday, July 7th. They issued a "neutral" rating and a $131.00 price target on the stock. Bank of America started coverage on SpaceX in a report on Tuesday, July 7th. They set a "buy" rating and a $235.00 price target for the company. Finally, DZ Bank initiated coverage on SpaceX in a research note on Friday, August 21st. They issued a "sell" rating and a $100.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have assigned a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $221.06.

SpaceX Stock Performance

Shares of NASDAQ:SPCX opened at $148.18 on Friday. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The firm has a market capitalization of $1.94 trillion and a price-to-earnings ratio of -1,646.44. The business's fifty day simple moving average is $135.01.

SpaceX (NASDAQ:SPCX - Get Free Report) last announced its 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 business's quarterly revenue was up 91.9% compared to the same quarter last year. Sell-side analysts forecast that SpaceX will post -0.15 EPS for the current year.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: UK Starshield contract: Britain is reportedly spending nearly $40 million on SpaceX satellite services, providing validation for the Starshield defense business and a potential source of recurring international revenue. SpaceX Stock Rises as Britain Spends Nearly $40M on Satellite Services
• Positive Sentiment: Successful government launch: SpaceX launched a U.S. Space Force mission from California, reinforcing its launch reliability and defense-contract credentials. SpaceX Launches Space Force Mission in California
• Positive Sentiment: Starlink product upgrade: A fourth-generation router featuring Wi-Fi 7, broader coverage and support for more connected devices could improve Starlink’s consumer competitiveness and average revenue per user. SpaceX Gives Starlink a Major Wi-Fi Upgrade
• Positive Sentiment: Analyst and institutional support: Pivotal Research initiated coverage with a Buy rating and a $220 target, while Third Point reported acquiring roughly $31 million of SpaceX shares after the IPO. Billionaire Investor Added SpaceX to His Portfolio
• Neutral Sentiment: Data-center strategy shift: Reports that SpaceX may slow or redesign its AI data-center expansion could reduce near-term spending and execution risk, but may also delay projected AI revenue growth. SpaceX Shifting Gears With Data Center Buildout
• Negative Sentiment: Valuation remains a concern: Commentary highlighting a valuation near 98 times sales and recent analyst caution is limiting enthusiasm, especially while SpaceX continues investing heavily in AI infrastructure. SpaceX Trades at 98 Times Sales
• Negative Sentiment: Share-supply and transparency overhangs: Recent lockup expirations have made hundreds of millions of shares eligible for sale, while SpaceX is suing to keep Texas Terafab tax-break records private. Both developments can increase selling pressure or investor scrutiny. SpaceX Sues to Block Release of Terafab Tax-Break Records

SpaceX Profile

Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems, serving commercial, government and scientific customers.

SpaceX's principal products include the Falcon 9 and Falcon Heavy rockets, which are used to launch satellites, spacecraft and other payloads into orbit. The company also develops the Dragon spacecraft, which supports cargo and crew missions to low Earth orbit, including missions for NASA and other customers.

Through its Starlink business, SpaceX operates a large constellation of low Earth orbit satellites that provides broadband internet service to customers in numerous countries and regions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.