Anderson Hoagland & Co. Acquires New Stake in SpaceX $SPCX

Key Points

• Anderson Hoagland & Co. acquired 25,128 SpaceX shares during the third quarter, valued at approximately $3.64 million. Several other hedge funds also established new, smaller positions.
• SpaceX reported strong quarterly results, with revenue rising 161% year over year to about $14.58 billion and EPS of $0.35 versus the $0.10 consensus estimate. Analysts broadly remain bullish, with a “Moderate Buy” consensus and an average price target of $244.19.
• Significant risks remain, including more than $9.9 billion in quarterly free-cash-flow burn, plans to raise roughly $40 billion in debt, an unprofitable launch division, geopolitical concerns involving Starlink, and insider share sales.

Anderson Hoagland & Co. acquired a new stake in shares of SpaceX (NASDAQ:SPCX - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 25,128 shares of the company's stock, valued at approximately $3,637,000.

Other hedge funds have also made changes to their positions in the company. Syntax Research Inc. acquired a new position in SpaceX during the second quarter worth about $26,000. Atwood & Palmer Inc. bought a new position in shares of SpaceX during the 2nd quarter valued at about $29,000. PayPay Securities Corp bought a new position in shares of SpaceX during the 2nd quarter valued at about $30,000. Hickory Point Bank & Trust acquired a new position in shares of SpaceX in the 3rd quarter worth approximately $30,000. Finally, Maryland Capital Advisors Inc. acquired a new position in shares of SpaceX in the 3rd quarter worth approximately $30,000.

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

SpaceX Trading Up 1.9%

NASDAQ SPCX opened at $147.49 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 1 year low of $104.83 and a 1 year high of $225.64. The firm has a market cap of $1.94 trillion and a P/E ratio of -1,638.78. The business's 50-day moving average is $149.40.

SpaceX (NASDAQ:SPCX - Get Free Report) last announced its earnings results on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.10 by $0.25. The firm had revenue of $14.57 billion during the quarter. SpaceX's revenue for the quarter was up 161.4% on a year-over-year basis. During the same period last year, the firm posted ($0.36) EPS. Research analysts forecast that SpaceX will post 0.13 EPS for the current fiscal year.

Insider Activity

In related news, COO Gwynne Shotwell sold 342,170 shares of the company's stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total value of $52,547,046.90. Following the completion of the sale, the chief operating officer owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. This represents a 12.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wedbush assumed coverage on shares of SpaceX in a research note on Tuesday, June 30th. They set an "outperform" rating and a $190.00 target price for the company. Oppenheimer raised their target price on shares of SpaceX from $250.00 to $280.00 and gave the stock an "outperform" rating in a report on Wednesday, September 2nd. Wells Fargo & Company lifted their price target on shares of SpaceX from $214.00 to $274.00 and gave the stock an "overweight" rating in a research report on Wednesday. Moffett Nathanson upped their price target on SpaceX from $131.00 to $142.00 and gave the company a "neutral" rating in a report on Monday, September 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $235.00 price objective on shares of SpaceX in a research report on Monday, September 28th. Four analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $244.19.

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.

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