NorthRock Partners LLC Makes New Investment in SpaceX $SPCX

Key Points

• NorthRock Partners acquired 6,869 SpaceX shares worth approximately $1.17 million in the second quarter, joining several other institutional investors that initiated positions.
• SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, and posted a loss of $0.09 per share—better than the consensus estimate of a $0.26 loss.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $221.06, although valuation concerns, potential share-supply pressure and uncertainty around AI data-center expansion remain risks.

NorthRock Partners LLC purchased a new stake in SpaceX (NASDAQ:SPCX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,869 shares of the company's stock, valued at approximately $1,174,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SPCX. Syntax Research Inc. acquired a new stake in shares of SpaceX during the second quarter worth $26,000. Atwood & Palmer Inc. acquired a new position in SpaceX in the 2nd quarter worth $29,000. PayPay Securities Corp bought a new position in SpaceX during the 2nd quarter worth about $30,000. Marquette Asset Management LLC bought a new position in SpaceX during the 2nd quarter worth about $32,000. Finally, Community Bank N.A. acquired a new stake in shares of SpaceX in the 2nd quarter valued at about $38,000.

SpaceX Price Performance

Shares of NASDAQ SPCX opened at $148.18 on Friday. The company has a market cap of $1.94 trillion and a PE ratio of -1,646.44. The firm has a 50-day moving average of $135.01. 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 fifty-two week low of $104.83 and a fifty-two week high of $225.64.

SpaceX (NASDAQ:SPCX - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.17. The company had revenue of $7.81 billion for the quarter. The business's revenue for the quarter was up 91.9% on a year-over-year basis. On average, sell-side analysts expect that SpaceX will post -0.15 EPS for the current year.

Key Stories Impacting 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

Analyst Ratings Changes

Several research firms have recently weighed in on SPCX. JPMorgan Chase & Co. initiated coverage on SpaceX in a research report on Tuesday, July 7th. They set an "overweight" rating and a $225.00 price objective for the company. The Goldman Sachs Group began coverage on SpaceX in a research report on Tuesday, July 7th. They issued a "buy" rating and a $205.00 target price on the stock. Seaport Research Partners cut SpaceX from a "buy" rating to a "neutral" rating in a research note on Friday, August 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $246.00 price target on shares of SpaceX in a research report on Wednesday, August 5th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of SpaceX in a research note on Monday, August 31st. Two 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 issued a Sell rating to the company. According to data from MarketBeat.com, SpaceX currently has an average rating of "Moderate Buy" and a consensus price target of $221.06.

SpaceX 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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