SpaceX $SPCX Stock: Brookstone Capital Management Increases Holdings

Key Points

• Brookstone Capital Management increased its SpaceX holdings by 13.1% in the third quarter, ending with 92,131 shares valued at approximately $13.9 million. Several other major investment firms also established or expanded positions.
• 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. Analysts’ average rating is “Moderate Buy,” with an average price target of $244.19.
• Shares opened at $147.49, well below the 12-month high of $225.64; meanwhile, COO Gwynne Shotwell sold 342,170 shares worth about $52.5 million under a pre-arranged trading plan.

Brookstone Capital Management lifted its holdings in shares of SpaceX (NASDAQ:SPCX - Free Report) by 13.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 92,131 shares of the company's stock after acquiring an additional 10,659 shares during the quarter. Brookstone Capital Management's holdings in SpaceX were worth $13,899,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on SPCX. Bank of America lifted their price target on SpaceX from $235.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday. William Blair restated an "outperform" rating on shares of SpaceX in a research note on Friday, October 9th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of SpaceX in a report on Wednesday. Phillip Securities upgraded SpaceX to a "strong sell" rating and set a $75.00 target price for the company in a research report on Friday, July 31st. Finally, Daiwa Securities Group started coverage on SpaceX in a report on Thursday, July 2nd. They issued a "neutral" rating and a $175.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, SpaceX has an average rating of "Moderate Buy" and an average target price of $244.19.

SpaceX Price Performance

Shares of SPCX stock opened at $147.49 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64. The business has a 50 day simple moving average of $149.40. The company has a market cap of $1.94 trillion and a price-to-earnings ratio of -1,638.78.

SpaceX (NASDAQ:SPCX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.25. The business had revenue of $14.57 billion for the quarter. The business's revenue for the quarter was up 161.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.36) earnings per share. On average, equities analysts anticipate that SpaceX will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the firm's stock in a transaction dated 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 owned 2,472,035 shares of the company's stock, valued at approximately $379,630,414.95. This trade represents a 12.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Trending Headlines about 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

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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