SpaceX $SPCX Stock Bought by Wedbush Securities Inc.

Key Points

• Wedbush Securities increased its SpaceX holdings by 173.6% in the third quarter, reaching 81,557 shares valued at approximately $12.3 million. Several other institutional investors also initiated or expanded positions.
• SpaceX reported strong quarterly results, with revenue up 161.4% year over year to about $14.57 billion and adjusted earnings per share of $0.35 versus the $0.10 consensus estimate. Shares recently traded at $147.49, up 1.9%.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $244.19, although concerns remain over heavy cash burn, planned debt financing, launch-business losses and insider share sales.

Wedbush Securities Inc. raised its holdings in SpaceX (NASDAQ:SPCX - Free Report) by 173.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 81,557 shares of the company's stock after acquiring an additional 51,744 shares during the period. Wedbush Securities Inc.'s holdings in SpaceX were worth $12,304,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Vision Financial Markets LLC purchased a new stake in shares of SpaceX in the third quarter valued at approximately $30,000. XXI Wealth LLC acquired a new stake in shares of SpaceX in the third quarter valued at approximately $397,000. BIP Wealth LLC increased its holdings in shares of SpaceX by 479.2% in the third quarter. BIP Wealth LLC now owns 12,197 shares of the company's stock valued at $1,840,000 after purchasing an additional 10,091 shares during the last quarter. Private Wealth Partners LLC purchased a new position in SpaceX during the third quarter worth approximately $2,125,000. Finally, NovaPoint Capital LLC purchased a new position in SpaceX during the third quarter worth approximately $390,000.

SpaceX Trading Up 1.9%

SPCX traded up $2.74 on Friday, hitting $147.49. The company had a trading volume of 110,309,928 shares, compared to its average volume of 98,790,120. The stock has a market cap of $1.94 trillion and a price-to-earnings ratio of -1,638.78. SpaceX has a 1 year low of $104.83 and a 1 year high of $225.64. The stock's fifty day simple moving average is $149.40. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12.

SpaceX (NASDAQ:SPCX - Get Free Report) last announced its earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.25. The company had revenue of $14.57 billion for the quarter. During the same period in the previous year, the business posted ($0.36) earnings per share. SpaceX's revenue for the quarter was up 161.4% compared to the same quarter last year. On average, analysts predict that SpaceX will post 0.13 earnings per share for the current year.

Key SpaceX News

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 at SpaceX

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 value 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on SpaceX from $214.00 to $274.00 and gave the stock an "overweight" rating in a research note on Wednesday. Canaccord Genuity Group assumed coverage on SpaceX in a research note on Tuesday, July 7th. They issued a "buy" rating and a $246.00 target price for the company. DZ Bank started coverage on SpaceX in a report on Friday, August 21st. They set a "sell" rating and a $100.00 price target on the stock. Wedbush initiated coverage on shares of SpaceX in a research report on Tuesday, June 30th. They set an "outperform" rating and a $190.00 price target on the stock. Finally, Seaport Research Partners lowered shares of SpaceX from a "buy" rating to a "neutral" rating in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $244.19.

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.

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