VIRGINIA RETIREMENT SYSTEMS ET Al Takes $8.54 Million Position in SpaceX $SPCX

Key Points

• Virginia Retirement Systems purchased 50,000 SpaceX shares worth approximately $8.54 million in the second quarter, joining several other institutional investors that initiated positions.
• SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, and loss per share of $0.09, beating analysts’ expected loss of $0.26. Shares opened at $153.47, with a market capitalization of about $2.01 trillion.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $221.06, but major risks include the company’s extreme valuation, reliance on Starship reusability, potential share unlock selling and rising capital expenditures.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of SpaceX (NASDAQ:SPCX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 50,000 shares of the company's stock, valued at approximately $8,543,000.

A number of other institutional investors have also recently bought and sold shares of the business. Wedbush Securities Inc. purchased a new position in shares of SpaceX in the 2nd quarter worth about $5,094,000. Hyperion Asset Management Ltd purchased a new stake in SpaceX during the second quarter worth about $201,137,000. Assenagon Asset Management S.A. bought a new stake in SpaceX in the second quarter worth about $2,502,000. Turner Financial Group Inc. purchased a new position in SpaceX in the second quarter valued at about $1,228,000. Finally, Rik Saylor Financial Inc. purchased a new position in SpaceX in the second quarter valued at about $1,670,000.

SpaceX Stock Up 3.7%

Shares of NASDAQ SPCX opened at $153.47 on Wednesday. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. The company has a market cap of $2.01 trillion and a P/E ratio of -1,705.22. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The business has a 50-day moving average of $135.48.

SpaceX (NASDAQ:SPCX - Get Free Report) last announced its quarterly 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 firm had revenue of $7.81 billion during the quarter. The company's quarterly revenue was up 91.9% compared to the same quarter last year. Equities research analysts anticipate that SpaceX will post -0.15 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SPCX. UBS Group restated a "buy" rating and set a $75.00 price target (down from $210.00) on shares of SpaceX in a research note on Monday, August 17th. DZ Bank started coverage on SpaceX in a report on Friday, August 21st. They set a "sell" rating and a $100.00 price objective for the company. Seaport Research Partners downgraded SpaceX from a "buy" rating to a "neutral" rating in a research report on Friday, August 7th. Mizuho initiated coverage on SpaceX in a research report on Tuesday, July 7th. They set an "outperform" rating and a $200.00 price target on the stock. Finally, HSBC began coverage on SpaceX in a research note on Thursday, July 23rd. They set a "hold" rating and a $115.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have given a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat, SpaceX presently has an average rating of "Moderate Buy" and an average price target of $221.06.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: New Buy rating and $220 target: Pivotal Research initiated coverage with a Buy rating and a $220 price target, implying substantial upside. The firm’s thesis depends heavily on SpaceX successfully developing a reusable Starship system, which could expand launch capacity and support Starlink growth. CNBC analyst coverage article
• Positive Sentiment: Possible $15.5 billion of passive demand: JPMorgan estimates a Nasdaq-100 rebalance could significantly increase SpaceX’s index weighting, potentially forcing roughly $15.5 billion of buying from passive funds. This prospect is supporting sentiment despite the stock’s recent volatility. Benzinga Nasdaq rebalance article
• Positive Sentiment: Strong operating momentum: SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, and beat the consensus earnings estimate. Analysts also point to Starlink’s potential to address a large terrestrial and wireless connectivity market. Seeking Alpha analyst outlook
• Neutral Sentiment: Share unlocks have not yet triggered major selling: SpaceX has absorbed two prior insider share unlocks relatively well, but approximately 319 million additional shares are scheduled to become eligible for sale on September 9. The market is watching whether this third unlock produces heavier supply. Benzinga share unlock article
• Negative Sentiment: Execution and valuation risks remain high: Analysts say the bull case rests “almost entirely” on Starship reusability. Failure to scale the rocket could materially reduce SpaceX’s future growth prospects, while its roughly $2 trillion valuation appears aggressive relative to projected 2026 revenue. MarketWatch Starship analysis
• Negative Sentiment: Competitive and capital-spending pressure: The Exploration Company raised $450 million to challenge SpaceX, while SpaceX is expected to face a significant 2027 capital-expenditure increase. These factors could pressure returns if Starship and other new initiatives require substantial funding before generating cash flow. TechCrunch competitor funding article

SpaceX Profile

Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems, serving commercial, government and scientific customers.

SpaceX's principal products include the Falcon 9 and Falcon Heavy rockets, which are used to launch satellites, spacecraft and other payloads into orbit. The company also develops the Dragon spacecraft, which supports cargo and crew missions to low Earth orbit, including missions for NASA and other customers.

Through its Starlink business, SpaceX operates a large constellation of low Earth orbit satellites that provides broadband internet service to customers in numerous countries and regions.

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