SpaceX (NASDAQ:SPCX) Trading Down 4.1% - Here's Why

Key Points

• SpaceX shares fell 4.1% to $148.36, with trading volume below average, as investors focused on near-term supply concerns. Up to 328.4 million shares may become eligible for sale after a September 24 lockup expiration, while President and COO Gwynne Shotwell filed to sell about $52 million in stock.
• Despite the decline, SpaceX’s longer-term outlook remains supported by demand for its AI infrastructure, Starlink expansion, defense contracts and the planned Starship program. The company is also shifting resources from Falcon 9 production to Starship, creating execution and launch-capacity risks during the transition.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $221.42. Recent quarterly revenue rose 91.9% year over year to $7.81 billion, while earnings of negative $0.09 per share exceeded estimates.

SpaceX (NASDAQ:SPCX - Get Free Report)'s share price dropped 4.1% on Wednesday . The stock traded as low as $147.89 and last traded at $148.36. Approximately 59,736,940 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 105,076,125 shares. The stock had previously closed at $154.72.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX’s AI business is attracting early demand: its Grok Bot reportedly surpassed 400,000 weekly users after roughly one month. Analysts also see the company’s AI-compute infrastructure, including planned power capacity expansion, as a potentially significant future revenue driver. SpaceX Has a Meta Muse, Too
• Positive Sentiment: Longer-term optimism remains tied to Starlink growth, defense contracts and the planned Starship program. Elon Musk reportedly expects an initial Starship orbital mission carrying Starlink V3 satellites as soon as September 28, pending approval. First Starship Launch to Orbit
• Positive Sentiment: Analysts continue to highlight potential upside from satellite connectivity, AI infrastructure and possible deeper ties with Tesla. However, merger reports remain speculation rather than a confirmed transaction. SpaceX and Tesla AI Ties
• Neutral Sentiment: President Donald Trump’s financial disclosure showed purchases and sales of SpaceX shares in July. The trades generated publicity but were relatively small and do not directly change SpaceX’s business outlook. Trump bought and sold shares in SpaceX
• Negative Sentiment: Up to 328.4 million shares could become eligible for sale on September 24 as another lockup expires. The potential increase in supply is weighing on sentiment and could create additional volatility. SpaceX Stock Slips Ahead of Share Unlock
• Negative Sentiment: President and COO Gwynne Shotwell filed to sell approximately $52 million of SpaceX stock. Although the sale may be routine, it adds to near-term supply concerns ahead of the lockup event. SpaceX President Sells More Than $50 Million of Stock
• Negative Sentiment: SpaceX is winding down Falcon 9 production while shifting resources to Starship. The transition could eventually improve capacity and economics, but it creates near-term execution risk and concerns about a launch-supply crunch. SpaceX Is Winding Down the Falcon 9
• Negative Sentiment: Elon Musk’s calls for international AI regulation may raise concerns about regulatory constraints on SpaceX’s emerging AI operations. At the same time, valuation remains demanding, leaving limited room for execution missteps. SpaceX Stock Slips as Musk Calls for AI Regulation

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. TD Cowen initiated coverage on shares of SpaceX in a report on Monday, June 22nd. They set a "buy" rating on the stock. Oppenheimer increased their price target on SpaceX from $250.00 to $280.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 2nd. Bank of America started coverage on SpaceX in a report on Tuesday, July 7th. They issued a "buy" rating and a $235.00 price objective for the company. Moffett Nathanson increased their target price on SpaceX from $131.00 to $142.00 and gave the stock a "neutral" rating in a report on Monday, September 14th. Finally, Deutsche Bank Aktiengesellschaft began coverage on SpaceX in a research report on Tuesday, July 7th. They issued a "buy" rating and a $255.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have assigned a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat.com, SpaceX presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.42.

SpaceX Stock Down 4.1%

The business has a 50 day simple moving average of $135.31. The firm has a market cap of $1.94 trillion and a PE ratio of -1,648.44. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99.

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, topping analysts' consensus estimates of ($0.26) by $0.17. The business had revenue of $7.81 billion for the quarter. The firm's revenue was up 91.9% on a year-over-year basis. On average, research analysts predict that SpaceX will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On SpaceX

Several hedge funds and other institutional investors have recently made changes to their positions in SPCX. State Street Corp bought a new position in SpaceX in the 2nd quarter valued at approximately $1,858,329,000. Security National Bank of SO Dak bought a new position in shares of SpaceX in the 2nd quarter valued at $48,000. HBK Investments L P acquired a new position in SpaceX in the 2nd quarter worth about $40,579,000. Bullseye Investment Management LLC acquired a new stake in shares of SpaceX during the second quarter valued at about $674,000. Finally, Smith Chas P & Associates PA Cpas bought a new stake in shares of SpaceX during the second quarter worth about $307,000.

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.

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