SpaceX (NASDAQ:SPCX) Stock Jumps 1.2% - Here's What Happened

Key Points

• SpaceX shares rose 1.2% to $162.57 amid positive developments for Starlink, including FCC approval for up to 15,000 additional satellites and a potential spectrum acquisition that could expand mobile coverage.
• Analysts remain broadly bullish, with TD Cowen and Barclays issuing Buy/Overweight ratings and price targets of $200 and $254; the consensus rating is “Moderate Buy” with an average target of $219.77.
• Risks include the potential sale of approximately 319 million insider shares, uncertainty around roughly $40 billion in AI-chip financing, and conflicting analyst views, including a recent downgrade from Raymond James.

SpaceX (NASDAQ:SPCX - Get Free Report) was up 1.2% on Friday. The company traded as high as $166.38 and last traded at $162.57. 92,337,164 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 102,438,719 shares. The stock had previously closed at $160.57.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: The spectrum acquisition could improve indoor and nationwide coverage for Starlink Mobile, strengthen SpaceX’s direct-to-device strategy and create a new wireless revenue opportunity. The deal remains subject to final FCC approval. Reuters spectrum acquisition article
• Positive Sentiment: The FCC approved SpaceX’s plan for up to 15,000 additional Starlink satellites for mobile and direct-to-device connectivity, removing a potentially important regulatory hurdle. FCC approval article
• Positive Sentiment: Analyst support added to the bullish narrative. TD Cowen reaffirmed a Buy rating with a $200 target, while Barclays initiated coverage with a Buy rating and a $254 target; other analysts cited Starlink and AI infrastructure as long-term growth drivers. Barclays SpaceX price target article
• Positive Sentiment: The successful return of NASA’s Crew-12 astronauts after 237 days in orbit reinforces SpaceX’s operational reliability and its role in NASA’s commercial crew program. NASA Crew-12 return article
• Neutral Sentiment: SpaceX is reportedly exploring roughly $40 billion in financing to purchase Nvidia chips and expand AI data-center capacity. The opportunity could diversify revenue, but the financing terms and investment returns remain uncertain. AI chip financing article
• Negative Sentiment: Up to approximately 319 million insider shares became eligible for sale, creating a potential increase in supply and short-term selling pressure. SpaceX insider share unlock article

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SPCX. Susquehanna lifted their price target on SpaceX from $144.00 to $173.00 and gave the stock a "neutral" rating in a research note on Wednesday. Raymond James Financial cut shares of SpaceX from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, August 7th. TD Cowen reiterated a "buy" rating and issued a $200.00 price objective on shares of SpaceX in a research report on Friday. Barclays assumed coverage on SpaceX in a report on Thursday. They set an "overweight" rating and a $254.00 target price for the company. Finally, Guggenheim assumed coverage on SpaceX in a research note on Friday, August 7th. They issued a "buy" rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, nine have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $219.77.

SpaceX Stock Performance

The stock's 50-day moving average is $143.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. The stock has a market capitalization of $2.14 trillion and a price-to-earnings ratio of -1,806.33.

SpaceX (NASDAQ:SPCX - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.17. The firm had revenue of $7.81 billion during the quarter. SpaceX's revenue for the quarter was up 91.9% on a year-over-year basis. As a group, research analysts forecast that SpaceX will post 0.09 earnings per share for the current fiscal year.

Insider Transactions at SpaceX

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total value of $52,547,046.90. Following the completion of the transaction, the chief operating officer owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. This represents a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Trading of SpaceX

A number of hedge funds and other institutional investors have recently modified their holdings of SPCX. Wedbush Securities Inc. purchased a new stake in SpaceX during the 2nd quarter valued at $5,094,000. Hyperion Asset Management Ltd purchased a new position in shares of SpaceX in the second quarter worth $201,137,000. K5 Global Advisor LLC bought a new position in shares of SpaceX during the second quarter valued at $6,587,531,000. Turner Financial Group Inc. purchased a new stake in shares of SpaceX during the second quarter valued at $1,228,000. Finally, Rik Saylor Financial Inc. purchased a new stake in shares of SpaceX during the second quarter valued at $1,670,000.

SpaceX Company 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 designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX's primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.

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