Rehmann Capital Advisory Group Purchases New Position in SpaceX $SPCX

Key Points

• Rehmann Capital Advisory Group purchased 8,609 SpaceX shares worth approximately $1.47 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 analysts’ expected loss of $0.26.
• Shares opened at $142.23, while analysts maintain a consensus “Moderate Buy” rating and a $220.20 target price; however, the stock’s extremely high valuation and heavy AI spending remain significant risks.

Rehmann Capital Advisory Group purchased a new stake in SpaceX (NASDAQ:SPCX - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,609 shares of the company's stock, valued at approximately $1,472,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hyperion Asset Management Ltd acquired a new stake in shares of SpaceX in the 2nd quarter valued at $201,137,000. Tema ETFs LLC acquired a new stake in shares of SpaceX during the 2nd quarter worth about $32,037,000. Montanova Capital LLC bought a new position in SpaceX during the 2nd quarter valued at about $17,291,000. Teamwork Financial Advisors LLC bought a new position in SpaceX during the 2nd quarter valued at about $8,027,000. Finally, Wedbush Securities Inc. acquired a new position in SpaceX in the second quarter valued at about $5,094,000.

SpaceX Trading Down 1.0%

Shares of SPCX stock opened at $142.23 on Wednesday. SpaceX has a 1 year low of $104.83 and a 1 year high of $225.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. The business's 50 day moving average is $136.60. The firm has a market capitalization of $1.86 trillion and a price-to-earnings ratio of -1,580.33.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SPCX. TD Cowen initiated coverage on shares of SpaceX in a report on Monday, June 22nd. They set a "buy" rating for the company. Zacks Research upgraded SpaceX to a "hold" rating in a research report on Monday, June 15th. Susquehanna cut SpaceX from a "neutral" rating to an "underperform" rating in a report on Friday, August 7th. Arete Research set a $450.00 price objective on SpaceX in a research report on Tuesday, August 11th. Finally, Guggenheim assumed coverage on SpaceX in a research note on Friday, August 7th. They issued a "buy" rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have assigned a Hold rating and six have given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $220.20.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: AI power strategy expands growth potential: SpaceX is reportedly developing gas-turbine components at a Texas facility to address the electricity bottleneck facing AI data centers. The move could support the company’s ambitious AI infrastructure plans and potentially create a new business opportunity beyond rockets and Starlink. SpaceX AI power supply article
• Positive Sentiment: Starlink remains the financial bright spot: Recent coverage says Starlink generated approximately $1.66 billion in second-quarter operating profit, while SpaceX’s space and AI operations posted combined losses. The connectivity segment’s profitability and nearly 92% year-over-year revenue growth provide funding for expansion. Starlink profitability article
• Positive Sentiment: Launch and defense momentum: SpaceX successfully launched NASA’s Nancy Grace Roman Space Telescope on a Falcon Heavy, reinforcing its launch reliability. Separately, reports that the Pentagon adopted Starshield AI’s Grok could strengthen the investment case for SpaceX’s space-based defense and communications infrastructure. NASA Roman Space Telescope launch article
• Neutral Sentiment: Starlink Mobile opportunity has major funding requirements: SpaceX’s direct-to-device ambitions could challenge traditional telecom infrastructure, but analysts estimate a standalone mobile network might require $50 billion to $130 billion in capital. Satellite service is more likely to complement terrestrial towers than replace them in dense urban markets. SpaceX mobile network investment article
• Neutral Sentiment: September 9 share unlock could increase volatility: The upcoming unlock is expected to expand SpaceX’s public float to about 17.7%. Greater liquidity may improve trading access, but early investors and employees could also sell, creating near-term supply pressure. SpaceX September 9 share unlock article
• Negative Sentiment: Heavy AI spending raises execution and profitability concerns: SpaceX reportedly spent $15.8 billion on AI-related capital expenditures in the latest quarter—about 86% of total company capital spending—while the AI segment remained unprofitable. This creates substantial cash-flow risk if AI revenue develops more slowly than expected. SpaceX capital spending article
• Negative Sentiment: Data-center leadership changes signal operational problems: The Information reported that SpaceX moved rocket and Starlink executives into its data-center operation after issues in Tennessee and Mississippi. The reshuffling may improve execution, but it highlights challenges in scaling the new business. SpaceX data-center leadership article
• Negative Sentiment: Valuation and near-term risks remain elevated: Analysts warn that SpaceX’s extremely high valuation leaves the stock vulnerable to a broader market pullback, seasonal September weakness, and disappointment around ambitious revenue forecasts. A reported Dragon spacecraft leak also delayed the next astronaut launch, adding a near-term execution setback. SpaceX September challenges article

SpaceX 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.

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