Lunate Capital Ltd Purchases 488,938 Shares of SpaceX $SPCX

Key Points

• Lunate Capital bought 488,938 SpaceX shares in the third quarter, worth about $73.8 million; the position now represents 10.3% of its portfolio and is its third-largest holding.
• SpaceX reported quarterly revenue of $14.57 billion, up 161.4% year over year, and EPS of $0.35, beating the $0.10 consensus estimate. Analysts’ average rating is “Moderate Buy,” with an average price target of $243.60.
• Potential growth opportunities include NASA lunar-base contracts and AI-computing plans, but the proposed Texas data-center project faces policy uncertainty and significant spending could weigh on cash flow.

Lunate Capital Ltd purchased a new stake in SpaceX (NASDAQ:SPCX - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 488,938 shares of the company's stock, valued at approximately $73,761,000. SpaceX comprises 10.3% of Lunate Capital Ltd's investment portfolio, making the stock its 3rd biggest holding.

A number of other institutional investors have also made changes to their positions in SPCX. Syntax Research Inc. acquired a new stake in SpaceX in the 2nd quarter valued at approximately $26,000. Atwood & Palmer Inc. bought a new position in SpaceX in the 2nd quarter worth approximately $29,000. PayPay Securities Corp bought a new position in SpaceX in the 2nd quarter worth approximately $30,000. Hickory Point Bank & Trust acquired a new position in shares of SpaceX during the third quarter worth approximately $30,000. Finally, Maryland Capital Advisors Inc. acquired a new position in shares of SpaceX during the third quarter worth approximately $30,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wolfe Research restated an "outperform" rating and issued a $175.00 price objective on shares of SpaceX in a research note on Wednesday, August 26th. China Renaissance began coverage on shares of SpaceX in a research note on Thursday, November 5th. They set a "buy" rating and a $194.20 target price for the company. The Goldman Sachs Group reiterated a "buy" rating and set a $245.00 target price on shares of SpaceX in a research note on Wednesday, October 21st. Sanford C. Bernstein set a $267.00 price target on shares of SpaceX in a report on Monday, October 26th. Finally, Pivotal Research raised their price target on shares of SpaceX from $230.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, October 21st. Four analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $243.60.

SpaceX Price Performance

Shares of SPCX stock opened at $143.09 on Wednesday. SpaceX has a one year low of $104.83 and a one year high of $225.64. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.00 and a current ratio of 3.08. The business has a fifty day moving average price of $149.18. The company has a market capitalization of $1.94 trillion and a PE ratio of 550.35.

SpaceX (NASDAQ:SPCX - Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.25. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The firm had revenue of $14.57 billion for the quarter. During the same period last year, the firm earned ($0.36) EPS. The company's quarterly revenue was up 161.4% compared to the same quarter last year. Equities research analysts anticipate that SpaceX will post 0.19 EPS for the current year.

Insider Buying and Selling at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of SpaceX stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the sale, the chief operating officer directly owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. The trade was a 12.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX will compete for up to $10 billion in NASA lunar-base contracts, adding a potential source of business beyond launches and satellite services. The contracts have not yet been awarded. Article: SpaceX to compete for NASA lunar-base contracts
• Positive Sentiment: SpaceX’s AI-computing plans are attracting investor and analyst attention. Deutsche Bank sees tighter data-center rules potentially benefiting the company by limiting available computing capacity and supporting higher prices; reported AI-computing arrangements could also create a new revenue stream. Article: Deutsche Bank on SpaceX and data-center rules
• Neutral Sentiment: The proposed $24 billion Starbase data center and gas-fired power plant could expand SpaceX’s AI capacity and provide dedicated energy, but it remains a plan rather than an operating asset. Article: SpaceX plans a Starbase data center and gas plant
• Negative Sentiment: The Texas project faces policy uncertainty: Governor-elect Gina Hinojosa has supported pausing new hyperscale data centers, and SpaceX is seeking tax breaks. Delays or restrictions could impede the expansion. Article: Texas AI project faces policy hurdles
• Negative Sentiment: Analysts and commentators have flagged the cost of SpaceX’s AI buildout and energy investments, which could pressure cash flow if revenue growth does not justify the heavy spending. Article: SpaceX’s energy investments and cash-flow risk

About SpaceX

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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