Castle Rock Wealth Management LLC purchased a new position in shares of SpaceX (NASDAQ:SPCX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 14,661 shares of the company's stock, valued at approximately $2,310,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC bought a new position in SpaceX during the 2nd quarter worth $70,000. Dogwood Wealth Management LLC bought a new stake in shares of SpaceX in the second quarter valued at about $139,000. Elevation Wealth Partners LLC acquired a new position in shares of SpaceX in the second quarter valued at about $153,000. Apella Capital LLC bought a new position in SpaceX during the second quarter worth about $452,000. Finally, KERR FINANCIAL PLANNING Corp bought a new position in SpaceX during the second quarter worth about $566,000.
SpaceX Stock Performance
SpaceX stock opened at $114.92 on Friday. SpaceX has a 1 year low of $104.83 and a 1 year high of $225.64. The company has a current ratio of 1.22, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83.
SpaceX (NASDAQ:SPCX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.17. The company had revenue of $7.81 billion during the quarter. SpaceX's quarterly revenue was up 91.9% compared to the same quarter last year. As a group, equities analysts anticipate that SpaceX will post -0.64 EPS for the current year.
Key Headlines Impacting SpaceX
Here are the key news stories impacting SpaceX this week:
- Positive Sentiment: The 911.5 million-share unlock was absorbed relatively well. Shares held up even as roughly $100 billion of insider and early-investor stock became eligible for trading, suggesting demand from retail and institutional investors may be offsetting potential selling. SpaceX Stock Defies Lock-up Fears
- Positive Sentiment: Terafab gives SpaceX another major growth narrative. SpaceX and Tesla confirmed an initial $16.8 billion investment in an AI-chip factory in Texas. SpaceX also plans dedicated power plants and battery storage for the facility, potentially expanding its AI-computing and semiconductor capabilities. SpaceX says Terafab to be built in Texas
- Positive Sentiment: Analysts and prominent investors remain bullish. Bernstein raised its price target, while JPMorgan, Needham, Cantor Fitzgerald, and others cited potential monetization of AI, Starlink, and cloud-computing investments. Cathie Wood’s ARK funds also reportedly bought shares during the selloff. Bernstein lifts SpaceX price target
- Neutral Sentiment: Recent earnings were operationally strong but financially expensive. Second-quarter revenue rose 91.9% to $7.81 billion, beating estimates, while Starlink subscribers reached 12 million and AI revenue grew rapidly. However, SpaceX reported a loss and spent $18.4 billion on capital expenditures, including $15.8 billion on AI infrastructure. SpaceX beats Q2 estimates
- Negative Sentiment: Supply and valuation risks remain significant. Additional lock-up expirations could make more than 4 billion shares tradable by year-end, while heavy cash burn, customer concentration, uncertain AI returns, and a very high valuation could renew selling pressure.
Analyst Ratings Changes
SPCX has been the subject of a number of recent research reports. Raymond James Financial reissued a "strong-buy" rating on shares of SpaceX in a report on Monday, July 27th. Morgan Stanley reiterated an "overweight" rating on shares of SpaceX in a research report on Friday, July 24th. Bank of America initiated coverage on SpaceX in a research note on Tuesday, July 7th. They issued a "buy" rating and a $235.00 price target for the company. New Street Research upgraded SpaceX to a "strong-buy" rating in a research note on Thursday, June 11th. Finally, Barclays upgraded SpaceX from an "underweight" rating to an "overweight" rating in a research report on Monday, June 22nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, SpaceX currently has an average rating of "Moderate Buy" and a consensus target price of $229.71.
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SpaceX Company Profile
(
Free Report)
SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.
Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.
Further Reading
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