SpaceX $SPCX Shares Newly Bought by Endowment Wealth Management Inc.

Key Points

• Endowment Wealth Management bought 52,490 SpaceX shares worth about $7.9 million in the third quarter, making the stock 2.7% of its portfolio and its eighth-largest holding.
• SpaceX reported quarterly revenue of $14.57 billion, up 161.4% year over year, and earnings per share of $0.35, beating the $0.10 consensus estimate.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $243.60; growth opportunities include Starlink’s planned 5G service, while competition and policy uncertainty remain risks.

Endowment Wealth Management Inc. purchased a new position in shares of SpaceX (NASDAQ:SPCX - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 52,490 shares of the company's stock, valued at approximately $7,919,000. SpaceX comprises approximately 2.7% of Endowment Wealth Management Inc.'s investment portfolio, making the stock its 8th largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SPCX. SC US Ttgp LTD. bought a new position in shares of SpaceX during the 2nd quarter valued at about $20,933,621,000. Darsana Capital Partners LP bought a new stake in SpaceX in the 2nd quarter worth approximately $17,335,783,000. K5 Global Advisor LLC bought a new stake in SpaceX in the 2nd quarter worth approximately $6,587,531,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in SpaceX in the third quarter worth approximately $4,224,143,000. Finally, Thrive Capital Management LLC purchased a new stake in SpaceX in the second quarter worth approximately $3,231,681,000.

SpaceX Trading Up 8.6%

NASDAQ SPCX opened at $134.27 on Friday. 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 0.20, a quick ratio of 3.00 and a current ratio of 3.08. The firm has a 50-day moving average of $149.18. The company has a market cap of $1.82 trillion and a price-to-earnings ratio of 516.42.

SpaceX (NASDAQ:SPCX - Get Free Report) last issued its earnings results 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. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The company had revenue of $14.57 billion during the quarter. During the same quarter in the prior year, the company earned ($0.36) earnings per share. The company's revenue was up 161.4% compared to the same quarter last year. As a group, equities research analysts forecast that SpaceX will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief operating officer owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. The trade was a 12.16% decrease in their ownership of the stock. The sale 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.

Key Stories Impacting SpaceX

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. TD Cowen increased their price target on shares of SpaceX from $200.00 to $224.00 and gave the company a "buy" rating in a research report on Wednesday, October 21st. JPMorgan Chase & Co. boosted their price objective on shares of SpaceX from $240.00 to $500.00 and gave the stock an "overweight" rating in a report on Wednesday, October 21st. China Renaissance began coverage on shares of SpaceX in a report on Thursday. They issued a "buy" rating and a $194.20 price objective for the company. Mizuho set a $205.00 price objective on shares of SpaceX in a research note on Wednesday, October 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $235.00 target price on shares of SpaceX in a report on Monday, September 28th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, SpaceX currently has a consensus rating of "Moderate Buy" and a consensus target price of $243.60.

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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