Concurrent Investment Advisors LLC Acquires New Shares in SpaceX $SPCX

Key Points

• Concurrent Investment Advisors acquired 50,410 SpaceX shares worth approximately $8.6 million in the second quarter, joining several other institutional investors that initiated positions.
• Analyst sentiment is broadly positive: SpaceX has a consensus “Moderate Buy” rating and an average price target of $221.20, despite some Hold and Sell recommendations.
• SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, and exceeded earnings expectations; however, its substantial capital spending, GAAP losses, high valuation and upcoming share unlock remain key risks.

Concurrent Investment Advisors LLC purchased a new stake in SpaceX (NASDAQ:SPCX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 50,410 shares of the company's stock, valued at approximately $8,613,000.

A number of other institutional investors have also added to or reduced their stakes in SPCX. Hyperion Asset Management Ltd purchased a new position in SpaceX during the 2nd quarter valued at about $201,137,000. Tema ETFs LLC purchased a new position in SpaceX during the second quarter valued at approximately $32,037,000. Montanova Capital LLC purchased a new position in SpaceX during the second quarter valued at approximately $17,291,000. Proficio Capital Partners LLC bought a new stake in SpaceX during the 2nd quarter worth approximately $8,120,000. Finally, Teamwork Financial Advisors LLC purchased a new stake in SpaceX in the 2nd quarter worth approximately $8,027,000.

Analyst Upgrades and Downgrades

Several research analysts have commented on SPCX shares. Barclays raised shares of SpaceX from an "underweight" rating to an "overweight" rating in a report on Monday, June 22nd. Wall Street Zen upgraded SpaceX from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Clear Str upgraded SpaceX to a "strong-buy" rating in a research report on Tuesday, July 7th. Benchmark started coverage on shares of SpaceX in a research report on Monday, June 22nd. They issued a "buy" rating on the stock. Finally, Needham & Company LLC reissued a "buy" rating and issued a $250.00 price target on shares of SpaceX in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have issued a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat, SpaceX presently has a consensus rating of "Moderate Buy" and an average price target of $221.20.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Investor optimism remains high ahead of a planned Labor Day weekend Falcon 9 launch from Vandenberg. A successful mission would reinforce SpaceX’s launch reliability and market leadership. SpaceX Labor Day weekend rocket launch
• Positive Sentiment: Recent earnings continue to provide a fundamental underpinning: revenue rose roughly 92% year over year to $7.8 billion, while Starlink subscriber growth, connectivity demand and expanding AI-compute revenue fueled bullish views. Some analysts believe SpaceX’s AI infrastructure could become a major long-term growth engine. SpaceX market capitalization and growth outlook
• Positive Sentiment: A reported $10 million bullish options position betting on a recovery toward $175, along with bullish analyst targets, signals continued institutional and speculative interest in SPCX. SpaceX bullish options bet
• Neutral Sentiment: Starship Test 14 is approaching, reportedly with a potential launch window in mid-September. The event could be a meaningful catalyst, but investors are also focused on the risk of delays or another unsuccessful test. SpaceX Starship Test 14
• Negative Sentiment: The Sept. 9 share unlock is the most immediate overhang. Newly eligible insider and early-investor shares could increase supply and create selling pressure after the recent rally. SpaceX share unlock
• Negative Sentiment: Valuation and capital intensity remain significant risks. SpaceX reportedly spent $18.4 billion in one quarter, including $15.8 billion on AI, while remaining GAAP-loss-making. Critics argue that much of the company’s future success is already reflected in its multitrillion-dollar valuation. SpaceX valuation and capital spending analysis

SpaceX Trading Down 1.2%

Shares of SpaceX stock opened at $147.95 on Friday. The company has a market cap of $1.93 trillion and a price-to-earnings ratio of -1,643.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. The firm's 50-day moving average price is $136.15.

SpaceX (NASDAQ:SPCX - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.26) by $0.17. The firm had revenue of $7.81 billion during the quarter. The firm's quarterly revenue was up 91.9% on a year-over-year basis. As a group, analysts predict that SpaceX will post -0.15 earnings per share for the current fiscal year.

About SpaceX

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.

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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.

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