Proficio Capital Partners LLC Makes New $8.12 Million Investment in SpaceX $SPCX

Key Points

• Proficio Capital Partners purchased 47,525 SpaceX shares during the second quarter, valued at approximately $8.12 million. Several other institutional investors also established new positions.
• Analyst sentiment remains broadly positive, with SpaceX receiving a “Moderate Buy” consensus rating and an average price target of $220.20, despite some recent downgrades to neutral, hold, and sell.
• SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, and posted a narrower-than-expected loss. Shares opened at $143.73, while investors continue to weigh the company’s growth prospects against its high valuation and potential execution risks.

Proficio Capital Partners LLC purchased a new stake in shares of SpaceX (NASDAQ:SPCX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 47,525 shares of the company's stock, valued at approximately $8,120,000.

Other large investors have also recently bought and sold shares of the company. Atwood & Palmer Inc. bought a new position in SpaceX in the 2nd quarter valued at $29,000. Marquette Asset Management LLC bought a new stake in shares of SpaceX during the second quarter worth $32,000. Burkett Financial Services LLC bought a new stake in shares of SpaceX during the second quarter worth $70,000. Contravisory Investment Management Inc. bought a new position in SpaceX in the second quarter valued at about $73,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in SpaceX in the second quarter worth about $89,000.

Analysts Set New Price Targets

Several brokerages have weighed in on SPCX. Stifel Nicolaus started coverage on SpaceX in a report on Tuesday, July 7th. They set a "buy" rating and a $190.00 price objective for the company. Seaport Research Partners cut shares of SpaceX from a "buy" rating to a "neutral" rating in a research report on Friday, August 7th. Phillip Securities raised shares of SpaceX to a "strong sell" rating in a research note on Friday, July 31st. Moffett Nathanson began coverage on shares of SpaceX in a report on Tuesday, July 7th. They issued a "neutral" rating and a $131.00 price objective on the stock. Finally, KGI Securities lowered shares of SpaceX from an "outperform" rating to a "hold" rating in a report on Monday, June 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have assigned a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, SpaceX currently has an average rating of "Moderate Buy" and an average target price of $220.20.

SpaceX Trading Up 1.6%

SPCX stock opened at $143.73 on Tuesday. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64. The business's 50-day simple moving average is $136.88. The company has a market capitalization of $1.88 trillion and a price-to-earnings ratio of -1,597.00. 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 (NASDAQ:SPCX - Get Free Report) last released 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 business had revenue of $7.81 billion for the quarter. The company's revenue for the quarter was up 91.9% on a year-over-year basis. On average, analysts forecast that SpaceX will post -0.15 earnings per share for the current year.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Analysts remain optimistic about SpaceX’s long-term revenue opportunity. Bernstein reiterated an Outperform view, while other research notes highlighted Elon Musk’s projection that revenue could reach $3.5 trillion by 2033. Bernstein SpaceX outlook
• Positive Sentiment: SpaceX’s latest quarterly results provided a fundamental tailwind: revenue rose 91.9% year over year to $7.81 billion, and the company’s loss per share was narrower than analysts expected. Starlink is increasingly viewed as the company’s primary financial engine. Cathie Wood’s Ark bought SpaceX stock
• Positive Sentiment: A successful Falcon Heavy launch of NASA’s Nancy Grace Roman Space Telescope reinforced SpaceX’s launch reliability and commercial relationship with NASA. The company also scheduled two additional California launches this week. SpaceX launches Roman telescope
• Positive Sentiment: SpaceX is expanding beyond rockets and satellite internet by building a Texas facility to manufacture gas-turbine components. Management says the effort could reduce generator delays and help supply power for its planned AI infrastructure. A planned partnership with Nvidia for AI-powered satellites also supports the company’s broader growth narrative. SpaceX turbine-parts manufacturing
• Neutral Sentiment: New space-focused ETFs continue buying SpaceX, potentially supporting demand for the shares and increasing investor exposure to commercial launches, satellites and space infrastructure. Space ETFs buying SpaceX
• Neutral Sentiment: The September 9 share unlock will increase SpaceX’s public float to approximately 17.7%. It could improve liquidity, but additional shares becoming available may also create short-term selling pressure. SpaceX share unlock
• Negative Sentiment: NASA and SpaceX delayed the next astronaut launch to the International Space Station after identifying a leak on the Dragon spacecraft. Although a delay is not necessarily a mission failure, it creates near-term schedule and execution concerns. Dragon spacecraft launch delay
• Negative Sentiment: Investors remain concerned that SpaceX’s valuation already discounts aggressive growth. Bernstein estimates a standalone Starlink Mobile network could require roughly $50 billion to $130 billion of capital, while technical and fundamental analyses warn of another possible bearish phase. OpenAI’s decision to end Cursor’s access to its AI models adds uncertainty to SpaceX’s AI strategy. Starlink Mobile capital requirements

SpaceX Company Profile

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.

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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