SpaceX (NASDAQ:SPCX) Stock Price Down 3.9% After Analyst Downgrade

Key Points

• SpaceX shares fell 3.9% to $147.55 after Wells Fargo cut its price target slightly from $215 to $212, although it maintained an overweight rating. Trading volume rose 15% above the average.
• Analyst sentiment remains broadly positive, with SpaceX holding a “Moderate Buy” consensus rating and an average price target of $221.06; recent bullish catalysts include Starship reusability, Starlink’s wireless opportunity and potential Nasdaq-100-related passive buying.
• Near-term risks include the unlocking of approximately 319 million insider shares worth up to $49 billion and reported infrastructure issues at AI data centers, while the company continues to post strong growth with quarterly revenue up 91.9% year over year.

SpaceX (NASDAQ:SPCX - Get Free Report)'s stock price was down 3.9% during trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $215.00 to $212.00. Wells Fargo & Company currently has an overweight rating on the stock. SpaceX traded as low as $145.55 and last traded at $147.55. 119,997,344 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 104,775,258 shares. The stock had previously closed at $153.47.

Several other research firms have also weighed in on SPCX. Zacks Research upgraded SpaceX to a "hold" rating in a report on Monday, June 15th. Arete Research set a $450.00 price target on shares of SpaceX in a research report on Tuesday, August 11th. Moffett Nathanson started coverage on shares of SpaceX in a research note on Tuesday, July 7th. They issued a "neutral" rating and a $131.00 price objective for the company. JPMorgan Chase & Co. began coverage on shares of SpaceX in a report on Tuesday, July 7th. They set an "overweight" rating and a $225.00 price objective for the company. Finally, KGI Securities lowered shares of SpaceX from an "outperform" rating to a "hold" rating in a research note on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have issued a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat, SpaceX currently has an average rating of "Moderate Buy" and an average target price of $221.06.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Pivotal Research initiated coverage with a Buy rating and a $220 price target, citing Starship reusability as the key catalyst and Starlink’s opportunity in the broader wireless market. SpaceX is a buy as the rocket company can solve one major bottleneck
• Positive Sentiment: Potential inclusion or increased weighting in the Nasdaq-100 could generate an estimated $15.5 billion of passive buying, providing a future technical tailwind for SPCX. SpaceX Could Draw $15.5B in Passive Buying as Nasdaq Rebalance Looms
• Positive Sentiment: Cloudflare’s market reaction to partnerships involving SpaceX and OpenAI highlights investor enthusiasm for SpaceX’s expanding AI and connectivity ecosystem, although the immediate share-price impact is primarily reflected in Cloudflare. Cloudflare Stock Soars as Investors Reward OpenAI and SpaceX Partnerships
• Neutral Sentiment: SpaceX successfully returned a rocket after launching NASA’s Nancy Grace Roman Space Telescope, supporting its established launch and recovery capabilities. SpaceX rocket taxi returns after Roman Telescope launch
• Negative Sentiment: Approximately 319 million insider shares, valued at up to roughly $47 billion to $49 billion, became eligible for sale under the latest lock-up expiration. The added potential supply is the primary near-term selling pressure, with further unlocks still ahead. SpaceX Falls as 319 Million Shares Unlock
• Negative Sentiment: Rapid construction of SpaceX’s AI data centers reportedly left some facilities operating for months without backup power, and the company faces a potential $920 million deadline. The issues raise execution, capital-spending, and infrastructure risks for its AI expansion. SpaceX AI Data Center Infrastructure Challenges

Hedge Funds Weigh In On SpaceX

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. KERR FINANCIAL PLANNING Corp acquired a new position in SpaceX during the 2nd quarter valued at $566,000. Burkett Financial Services LLC bought a new position in shares of SpaceX during the 2nd quarter worth about $70,000. Dogwood Wealth Management LLC bought a new position in shares of SpaceX during the 2nd quarter worth about $139,000. Dynamic Advisor Solutions LLC acquired a new position in shares of SpaceX during the second quarter valued at about $3,383,000. Finally, Apella Capital LLC bought a new stake in shares of SpaceX in the second quarter valued at about $452,000.

SpaceX Price Performance

The company has a market cap of $1.93 trillion and a price-to-earnings ratio of -1,639.44. The company's 50 day moving average price is $135.48. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12.

SpaceX (NASDAQ:SPCX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) 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. The firm's revenue was up 91.9% on a year-over-year basis. Research analysts predict that SpaceX will post -0.15 EPS for the current year.

About SpaceX

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.

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.