TD Waterhouse Canada Inc. Buys New Position in SpaceX $SPCX

Key Points

• TD Waterhouse Canada acquired 45,101 SpaceX shares valued at approximately $7.1 million in the second quarter, while several other institutional investors also initiated positions.
• SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, and posted an adjusted loss of $0.09 per share—better than analyst expectations. Shares opened at $147.95, with a market capitalization of roughly $1.93 trillion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $221.20, but investors face risks from the Sept. 9 share unlock, heavy capital spending, continued GAAP losses and an elevated valuation.

TD Waterhouse Canada Inc. purchased a new position in shares of SpaceX (NASDAQ:SPCX - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 45,101 shares of the company's stock, valued at approximately $7,115,000.

Several other hedge funds also recently made changes to their positions in the business. Hyperion Asset Management Ltd acquired a new stake in shares of SpaceX in the second quarter valued at approximately $201,137,000. Tema ETFs LLC acquired a new position in SpaceX during the second quarter worth $32,037,000. Montanova Capital LLC bought a new position in SpaceX in the second quarter valued at $17,291,000. Concurrent Investment Advisors LLC bought a new position in SpaceX in the second quarter valued at $8,613,000. Finally, Proficio Capital Partners LLC acquired a new stake in SpaceX in the 2nd quarter valued at $8,120,000.

SpaceX Price Performance

SpaceX stock opened at $147.95 on Friday. The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. The business's 50-day moving average price is $136.15. The firm has a market cap of $1.93 trillion and a price-to-earnings ratio of -1,643.89. SpaceX has a fifty-two week low of $104.83 and a fifty-two week high of $225.64.

SpaceX (NASDAQ:SPCX - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.17. The firm had revenue of $7.81 billion during the quarter. SpaceX's quarterly revenue was up 91.9% compared to the same quarter last year. As a group, analysts expect that SpaceX will post -0.15 EPS for the current year.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Investor optimism remains high ahead of a planned Labor Day weekend Falcon 9 launch from Vandenberg. A successful mission would reinforce SpaceX’s launch reliability and market leadership. SpaceX Labor Day weekend rocket launch
• Positive Sentiment: Recent earnings continue to provide a fundamental underpinning: revenue rose roughly 92% year over year to $7.8 billion, while Starlink subscriber growth, connectivity demand and expanding AI-compute revenue fueled bullish views. Some analysts believe SpaceX’s AI infrastructure could become a major long-term growth engine. SpaceX market capitalization and growth outlook
• Positive Sentiment: A reported $10 million bullish options position betting on a recovery toward $175, along with bullish analyst targets, signals continued institutional and speculative interest in SPCX. SpaceX bullish options bet
• Neutral Sentiment: Starship Test 14 is approaching, reportedly with a potential launch window in mid-September. The event could be a meaningful catalyst, but investors are also focused on the risk of delays or another unsuccessful test. SpaceX Starship Test 14
• Negative Sentiment: The Sept. 9 share unlock is the most immediate overhang. Newly eligible insider and early-investor shares could increase supply and create selling pressure after the recent rally. SpaceX share unlock
• Negative Sentiment: Valuation and capital intensity remain significant risks. SpaceX reportedly spent $18.4 billion in one quarter, including $15.8 billion on AI, while remaining GAAP-loss-making. Critics argue that much of the company’s future success is already reflected in its multitrillion-dollar valuation. SpaceX valuation and capital spending analysis

Analysts Set New Price Targets

SPCX has been the subject of a number of recent research reports. Bank of America began coverage on shares of SpaceX in a research note on Tuesday, July 7th. They set a "buy" rating and a $235.00 price objective for the company. 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. KGI Securities lowered SpaceX from an "outperform" rating to a "hold" rating in a report on Monday, June 22nd. Seaport Research Partners downgraded SpaceX from a "buy" rating to a "neutral" rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada lowered SpaceX from an "outperform" rating to a "hold" rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have given a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $221.20.

SpaceX Profile

SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.

Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.

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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.

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