SpaceX $SPCX Shares Acquired by Mountain Hill Investment Partners Corp.

Key Points

• Mountain Hill Investment Partners increased its SpaceX position by 4,477.5% in the third quarter, adding 26,865 shares to own 27,465 shares worth approximately $4.14 million.
• SpaceX reported strong quarterly results, with revenue rising 161.4% year over year to $14.57 billion and EPS of $0.35 versus the $0.10 consensus estimate. Analysts have generally favored the stock, with a “Moderate Buy” consensus and an average price target of $244.19.
• Significant risks remain, including more than $9.9 billion in quarterly free-cash-flow burn, plans to raise roughly $40 billion in debt, an unprofitable launch business, and potential execution and reputational challenges.

Mountain Hill Investment Partners Corp. lifted its position in SpaceX (NASDAQ:SPCX - Free Report) by 4,477.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 27,465 shares of the company's stock after purchasing an additional 26,865 shares during the quarter. SpaceX accounts for approximately 2.3% of Mountain Hill Investment Partners Corp.'s holdings, making the stock its 18th biggest holding. Mountain Hill Investment Partners Corp.'s holdings in SpaceX were worth $4,143,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. SC US Ttgp LTD. bought a new position in SpaceX during the 2nd quarter valued at about $20,933,621,000. Darsana Capital Partners LP bought a new stake in SpaceX during the second quarter worth about $17,335,783,000. K5 Global Advisor LLC bought a new stake in SpaceX during the second quarter worth about $6,587,531,000. State Street Corp bought a new stake in SpaceX during the second quarter worth about $1,858,329,000. Finally, Dragoneer Investment Group LLC acquired a new stake in shares of SpaceX during the second quarter worth approximately $1,366,880,000.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong earnings and AI growth supported the rebound. SpaceX reported third-quarter revenue of $14.58 billion, up 161% year over year, and earnings per share of $0.35 versus analysts’ $0.10 estimate. Its AI segment reportedly generated $431 million in net income, helping offset losses in the launch business. Fantastic News for SpaceX Stock Investors
• Positive Sentiment: Analyst sentiment improved sharply. PhilipCapital upgraded SpaceX from “Sell” to “Buy” and raised its price target from $75 to $250. Bank of America also lifted its target to $275, citing stronger growth prospects and Starship milestones. SpaceX Just Scored a Double Upgrade
• Positive Sentiment: Wireless ambitions broaden the growth story. Reports that SpaceX is seeking access to at least 80,000 U.S. cell sites suggest Starlink could evolve into a nationwide wireless carrier, potentially creating a major new revenue stream. The news pressured telecom stocks while benefiting tower owners. SpaceX Seeks Access to 80,000 US Cell Sites
• Neutral Sentiment: A potential Tesla NASDAQ: TSLA merger remains speculative. Elon Musk called the combination a “good idea,” but valuation, conflicts of interest, shareholder approval, antitrust review and Tesla’s China operations could delay or prevent a transaction. SpaceX-Tesla Merger Chatter
• Negative Sentiment: Funding and cash-burn concerns remain significant. SpaceX reportedly burned more than $9.9 billion in free cash flow during the quarter and is raising approximately $40 billion of debt at relatively high interest rates to finance AI and other expansion plans. SpaceX $40 Billion Debt Deal
• Negative Sentiment: Execution and reputational risks could limit upside. The launch division was unprofitable because of heavy research spending, while reports of continuing Starlink restrictions in Ukraine could threaten government relationships and future contracts. In addition, upcoming insider share unlocks may increase supply. Ukraine Says Starlink Restrictions Remain

Insider Activity

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

SpaceX Stock Up 1.9%

Shares of NASDAQ SPCX opened at $147.49 on Friday. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64. The stock's 50-day moving average is $149.40. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. The firm has a market cap of $1.94 trillion and a P/E ratio of -1,638.78.

SpaceX (NASDAQ:SPCX - Get Free Report) last posted 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. The company's quarterly revenue was up 161.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.36) EPS. On average, equities analysts expect that SpaceX will post 0.13 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on SPCX. Evercore reiterated an "outperform" rating and issued a $275.00 target price on shares of SpaceX in a research note on Friday, October 16th. Citigroup boosted their target price on SpaceX from $200.00 to $240.00 and gave the stock a "buy" rating in a report on Wednesday. Barclays increased their price target on SpaceX from $254.00 to $300.00 and gave the stock an "overweight" rating in a research report on Wednesday. Erste Group Bank began coverage on SpaceX in a report on Thursday, October 8th. They set a "hold" rating for the company. Finally, DZ Bank began coverage on SpaceX in a report on Friday, August 21st. They set a "sell" rating and a $100.00 price target for the company. Four research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $244.19.

SpaceX Company 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.

Want to see what other hedge funds are holding SPCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SpaceX (NASDAQ:SPCX - Free Report).

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.