SpaceX $SPCX Shares Bought by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management doubled its SpaceX position in the third quarter, acquiring 42,710 additional shares to own 84,579 shares valued at approximately $12.76 million. Several other institutional investors also initiated or expanded their holdings.
• SpaceX reported strong quarterly growth, with revenue rising 161% year over year to about $14.57 billion and EPS of $0.35 versus the $0.10 consensus estimate. Analyst sentiment was largely positive, with the stock receiving a “Moderate Buy” consensus rating 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 concerns. COO Gwynne Shotwell also sold shares worth approximately $52.5 million under a pre-arranged Rule 10b5-1 plan.

Apollon Wealth Management LLC increased its position in SpaceX (NASDAQ:SPCX - Free Report) by 102.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,579 shares of the company's stock after purchasing an additional 42,710 shares during the period. Apollon Wealth Management LLC's holdings in SpaceX were worth $12,760,000 at the end of the most recent reporting period.

Other hedge funds and 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 during the 3rd quarter valued at about $1,358,000. Diversify Advisory Services LLC raised its stake in SpaceX by 34.0% during the third quarter. Diversify Advisory Services LLC now owns 48,477 shares of the company's stock worth $7,205,000 after acquiring an additional 12,292 shares during the period. Wedbush Securities Inc. acquired a new stake in SpaceX during the second quarter worth about $5,094,000. Avior Wealth Management LLC bought a new position in SpaceX in the third quarter worth about $2,934,000. Finally, Apella Capital LLC lifted its holdings in SpaceX by 218.2% in 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.

Key Stories Impacting SpaceX

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 business's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total value of $52,547,046.90. Following the sale, the chief operating officer owned 2,472,035 shares of the company's stock, valued at approximately $379,630,414.95. The trade was a 12.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SPCX. Stifel Nicolaus assumed coverage on SpaceX in a research report on Tuesday, July 7th. They set a "buy" rating and a $190.00 price target on the stock. Cantor Fitzgerald upped their price objective on SpaceX from $246.00 to $345.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 20th. UBS Group restated an "overweight" rating and set a $300.00 price objective on shares of SpaceX in a research note on Wednesday. Wolfe Research reaffirmed an "outperform" rating and issued a $175.00 target price on shares of SpaceX in a research report on Wednesday, August 26th. Finally, Canaccord Genuity Group initiated coverage on SpaceX in a research note on Tuesday, July 7th. They issued a "buy" rating and a $246.00 target price on the stock. Four research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, SpaceX currently has an average rating of "Moderate Buy" and an average price target of $244.19.

SpaceX Price Performance

NASDAQ SPCX opened at $147.49 on Monday. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. The firm has a market capitalization of $1.94 trillion and a price-to-earnings ratio of -1,638.78. The company's 50 day moving average is $149.40. The company has a quick ratio of 3.00, a current ratio of 3.08 and a debt-to-equity ratio of 0.20.

SpaceX (NASDAQ:SPCX - Get Free Report) last released its earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.25. The firm had revenue of $14.57 billion during the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The business's revenue for the quarter was up 161.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.36) earnings per share. Sell-side analysts anticipate that SpaceX will post 0.13 earnings per share for the current fiscal year.

About SpaceX

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.

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.