SpaceX $SPCX Shares Acquired by Kimelman & Baird LLC

Key Points

• Kimelman & Baird increased its SpaceX stake by 45,280 shares in the third quarter, a 45,280% increase, bringing its holdings to 45,380 shares valued at about $6.85 million. Several other institutional investors also added or initiated positions.
• Analyst sentiment is broadly positive: SpaceX has a consensus “Moderate Buy” rating and an average price target of $243.60, based on the cited analyst coverage.
• SpaceX reported quarterly EPS of $0.35, beating the $0.10 consensus estimate, while revenue rose 161.4% year over year to $14.57 billion. The company nevertheless posted a negative net margin of 8.61%.

Kimelman & Baird LLC raised its holdings in SpaceX (NASDAQ:SPCX - Free Report) by 45,280.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,380 shares of the company's stock after acquiring an additional 45,280 shares during the period. Kimelman & Baird LLC's holdings in SpaceX were worth $6,846,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Viking Fund Management LLC bought a new stake in shares of SpaceX in the 3rd quarter valued at about $1,358,000. Diversify Advisory Services LLC increased its stake in shares of SpaceX by 34.0% in the third quarter. Diversify Advisory Services LLC now owns 48,477 shares of the company's stock valued at $7,205,000 after buying an additional 12,292 shares during the period. Avior Wealth Management LLC bought a new position in shares of SpaceX during the third quarter worth about $2,934,000. Wedbush Securities Inc. bought a new position in shares of SpaceX during the second quarter worth about $5,094,000. Finally, Apella Capital LLC raised its position in shares of SpaceX by 218.2% during the third quarter. Apella Capital LLC now owns 8,424 shares of the company's stock worth $1,412,000 after acquiring an additional 5,777 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Cantor Fitzgerald upped their target price on SpaceX from $246.00 to $345.00 and gave the company an "overweight" rating in a report on Tuesday, October 20th. Argus raised shares of SpaceX from a "hold" rating to a "buy" rating and set a $160.00 target price for the company in a research report on Friday, August 7th. Susquehanna raised their price target on shares of SpaceX from $173.00 to $176.00 and gave the stock a "neutral" rating in a report on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $235.00 price target on shares of SpaceX in a research report on Monday, September 28th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of SpaceX in a research note on Monday, October 19th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $243.60.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Musk said SpaceX could exceed $500 billion in annual recurring revenue by December 2027, a forecast well above Wall Street expectations. He also pointed to U.S. government contracts as a growing revenue source, helping lift growth sentiment. Article: Musk Says SpaceX Will Hit a Revenue Number That Not One of Its 37 Analysts Believes
• Positive Sentiment: SpaceX’s partnership with Qualcomm to support Starlink Mobile’s planned 5G network offers a potential new telecom growth avenue, with deployment expected to begin in 2027. Article: Can SPCX’s Tie-Up With Qualcomm Strengthen Its Position in the 5G Market?
• Neutral Sentiment: Director Donald Harrison resigned from SpaceX’s board effective November 4. The announcement did not provide a reason, so the immediate business impact is unclear. Article: SpaceX Director Donald Harrison Resigns from Board
• Negative Sentiment: Democratic gains in Congress and Texas raised concerns about scrutiny, permitting and data-center expansion—important to SpaceX’s AI ambitions—and helped drive the recent selloff. Friday’s rebound recouped some of those losses, but the policy uncertainty remains. Article: Why SpaceX Stock Is Up Today
• Negative Sentiment: SpaceX’s wireless ambitions may require substantial spending and face tough competition. Deutsche Telekom’s CEO said building a rival mobile network would require a costly terrestrial footprint, highlighting execution and financing risks alongside the growth opportunity. Article: Deutsche Telekom CEO Says SpaceX Has a Massive Mountain to Climb to Compete in Mobile

SpaceX Stock Performance

SpaceX stock opened at $134.27 on Friday. The company has a market cap of $1.82 trillion and a PE ratio of 516.42. SpaceX has a 52-week low of $104.83 and a 52-week high of $225.64. The stock's 50 day simple moving average is $149.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00.

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

Insider Transactions at SpaceX

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the firm's stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total value of $52,547,046.90. Following the completion of the sale, the chief operating officer directly owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. This trade represents a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Profile

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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