Teamwork Financial Advisors LLC Makes New $8.03 Million Investment in SpaceX $SPCX

Key Points

• Teamwork Financial Advisors LLC purchased 46,982 SpaceX shares in the second quarter, valued at approximately $8.03 million. Several other hedge funds also established new positions.
• Analyst sentiment is broadly positive, with SpaceX holding a “Moderate Buy” consensus rating and an average price target of $227.31; several firms recently initiated or reaffirmed buy and outperform ratings.
• SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, and a smaller-than-expected loss of $0.09 per share. Despite strong growth and expanding AI initiatives, investors face risks from continued losses, substantial capital spending, valuation concerns and upcoming share unlocks.

Teamwork Financial Advisors LLC bought a new stake in SpaceX (NASDAQ:SPCX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 46,982 shares of the company's stock, valued at approximately $8,027,000.

Other hedge funds have also modified their holdings of the company. KERR FINANCIAL PLANNING Corp purchased a new position in shares of SpaceX during the 2nd quarter worth $566,000. Burkett Financial Services LLC acquired a new position in SpaceX in the second quarter valued at about $70,000. Dogwood Wealth Management LLC acquired a new position in SpaceX in the second quarter valued at about $139,000. Dynamic Advisor Solutions LLC purchased a new position in SpaceX during the second quarter worth about $3,383,000. Finally, Apella Capital LLC acquired a new stake in shares of SpaceX during the second quarter valued at about $452,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Canaccord Genuity Group initiated coverage on shares of SpaceX in a report on Tuesday, July 7th. They issued a "buy" rating and a $246.00 price objective on the stock. Roth Capital upgraded shares of SpaceX to a "buy" rating in a report on Monday, June 22nd. Cantor Fitzgerald restated an "overweight" rating and set a $246.00 price target on shares of SpaceX in a research note on Wednesday. Oppenheimer raised their price target on SpaceX from $190.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, June 18th. Finally, Wolfe Research reaffirmed an "outperform" rating on shares of SpaceX in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat.com, SpaceX currently has an average rating of "Moderate Buy" and an average target price of $227.31.

SpaceX Stock Performance

Shares of SPCX stock opened at $133.11 on Friday. SpaceX has a fifty-two week low of $104.83 and a fifty-two week high of $225.64. The company has a 50 day simple moving average of $143.35. The company has a quick ratio of 1.11, a current ratio of 5.12 and a debt-to-equity ratio of 0.29.

SpaceX (NASDAQ:SPCX - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.26) by $0.17. The business had revenue of $7.81 billion for the quarter. The company's revenue for the quarter was up 91.9% compared to the same quarter last year. On average, equities analysts predict that SpaceX will post -0.28 earnings per share for the current year.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Lockup pressure was less severe than feared. Approximately 911.5 million shares became eligible for trading, more than doubling SpaceX’s public float. However, the stock remained resilient, suggesting that selling may have been largely anticipated and that existing shareholders and retail investors were willing to support the shares. SpaceX’s stock is having one of its best days ever with the first lockup expiration now behind it
• Positive Sentiment: Analysts turned more constructive. Argus upgraded SpaceX to Buy and set a $160 price target, citing accelerating AI revenue, cloud contracts and a potential payback period of less than one year for new AI spending. JPMorgan also raised its target, reinforcing the bullish view on SpaceX’s compute opportunity. SpaceX Stock Just Scored a New Buy Rating
• Positive Sentiment: Quarterly growth remains impressive. SpaceX reported revenue of $7.81 billion, up 91.9% year over year, and a smaller-than-expected loss of $0.09 per share. Reports also highlighted $20.8 billion of combined AI cloud contracts, $2.56 billion in AI revenue and continued profitability at Starlink. SpaceX Signed $14.1 Billion of Cloud Contracts in a Single Quarter
• Positive Sentiment: AI infrastructure plans are expanding. SpaceX’s partnership with Nvidia to deploy next-generation hardware in terrestrial and orbital data centers, along with the planned $16.8 billion Terafab chip factory with Tesla, strengthens the company’s long-term AI and compute narrative. SpaceX’s Terafab will rely on natural gas power plants
• Neutral Sentiment: Speculation about a SpaceX-Tesla merger or tracking-stock structure added attention but remains unconfirmed. Jefferies characterized the possibility as uncertain rather than an immediate catalyst. Jefferies weighs in on SpaceX-Tesla merger speculation
• Negative Sentiment: Risks remain substantial. SpaceX is committing roughly $15.8 billion of quarterly capital spending to AI and remains GAAP-loss-making. Additional staged unlocks through December could create further supply, while concerns about contract cancellations, valuation and the execution of Starlink Mobile continue to limit investor conviction.

About SpaceX

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.

Want to see what other hedge funds are holding SPCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SpaceX (NASDAQ:SPCX - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source