NewEdge Advisors LLC Buys Shares of 99,886 SpaceX $SPCX

Key Points

• NewEdge Advisors purchased 99,886 SpaceX shares valued at approximately $17.1 million during the second quarter. Several other institutional investors also initiated sizable positions, including K5 Global Advisor’s roughly $6.6 billion investment.
• SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, and posted a smaller-than-expected loss of $0.09 per share. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $221.06.
• Positive catalysts include Starshield defense contracts, successful government launches and Starlink product upgrades, while high valuation, potential share-supply pressure and uncertainty around its AI data-center strategy remain key risks.

NewEdge Advisors LLC purchased a new position in shares of SpaceX (NASDAQ:SPCX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 99,886 shares of the company's stock, valued at approximately $17,067,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. K5 Global Advisor LLC bought a new position in SpaceX during the second quarter worth about $6,587,531,000. Hyperion Asset Management Ltd bought a new stake in shares of SpaceX in the second quarter valued at approximately $201,137,000. Bond Capital Management LP purchased a new stake in shares of SpaceX during the 2nd quarter valued at approximately $180,620,000. Value Aligned Research Advisors LLC bought a new position in SpaceX in the 2nd quarter worth approximately $100,760,000. Finally, Tema ETFs LLC bought a new stake in SpaceX during the 2nd quarter valued at $32,037,000.

Trending Headlines about 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 Price Performance

Shares of SpaceX stock 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 1 year low of $104.83 and a 1 year high of $225.64. The company has a market capitalization of $1.94 trillion and a price-to-earnings ratio of -1,646.44. The company's 50 day moving average is $135.01.

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

Wall Street Analysts Forecast Growth

SPCX has been the subject of a number of analyst reports. The Goldman Sachs Group assumed coverage on SpaceX in a report on Tuesday, July 7th. They issued a "buy" rating and a $205.00 price target for the company. Benchmark started coverage on SpaceX in a research note on Monday, June 22nd. They issued a "buy" rating for the company. TD Cowen started coverage on SpaceX in a report on Monday, June 22nd. They set a "buy" rating for the company. Morgan Stanley reissued an "overweight" rating on shares of SpaceX in a report on Wednesday, August 26th. Finally, New Street Research upgraded shares of SpaceX to a "strong-buy" rating in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have issued a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat.com, SpaceX presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.06.

SpaceX Company 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.

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