SpaceX (NASDAQ:SPCX) Hits New 12-Month Low - Should You Sell?

Key Points

• SpaceX shares fell to a new 52-week low, trading as low as $109.53, amid concerns about losses, cash burn, valuation and a recent booster failure.
• The company still has significant growth catalysts, including a successful Starship test, Starlink expansion, a satellite-servicing mission and potential AI and defense opportunities.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $230.50, but investors face near-term risks from the Aug. 4 earnings report and Aug. 6 lockup expiration.

SpaceX (NASDAQ:SPCX - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $109.53 and last traded at $111.41, with a volume of 20085151 shares. The stock had previously closed at $115.07.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Starship Flight 13 advanced the growth story. The July 24 test successfully deployed 20 next-generation Starlink satellites and achieved a relatively smooth splashdown. Although the flight was not flawless, management said the higher-speed launch was intentional to test the heat shield, strengthening the case for future launch and Starlink expansion. SpaceX’s Starship Flight 13 Strengthens the Bull Case, but One Risk Remains
• Positive Sentiment: New commercial opportunities and institutional buying provide support. SpaceX launched Northrop Grumman’s satellite-servicing mission, potentially opening a market for in-orbit repairs and life extension. Vanguard ETFs and Cathie Wood’s ARK funds have also accumulated shares, while some analysts see substantial long-term upside based on Starlink, AI data-center contracts and rapid projected revenue growth. SpaceX Launches Northrop Grumman Repair Mission
• Neutral Sentiment: SpaceX joined a broad AI security initiative led by Nvidia and involving Microsoft, Palantir and other technology companies. The effort could enhance SpaceX’s credibility in AI and defense, but its near-term financial effect is unclear. Nvidia, SpaceX, Microsoft Launch AI Safety Initiative
• Negative Sentiment: Supply, cash-burn and valuation risks are pressuring the stock. HSBC initiated coverage with a Hold rating and a $115 price target, below SpaceX’s $135 IPO price, citing potential cash burn of roughly $106 billion. Investors are focused on the Aug. 4 earnings report and Aug. 6 lockup expiration, when nearly one billion pre-IPO shares could become eligible for sale. The company’s reported quarterly loss, ongoing operating losses, rich sales multiple and another booster failure have amplified concerns that Starship and AI ambitions may require substantial funding. HSBC Starts SpaceX Coverage With a $115 Price Target

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SPCX shares. The Goldman Sachs Group started coverage on shares of SpaceX in a report on Tuesday, July 7th. They set a "buy" rating and a $205.00 price objective on the stock. Oppenheimer lifted 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. Daiwa Securities Group began coverage on SpaceX in a research note on Thursday, July 2nd. They set a "neutral" rating and a $175.00 price target on the stock. Arete Research set a $401.00 price objective on SpaceX and gave the company a "buy" rating in a report on Thursday, June 18th. Finally, Seaport Research Partners upgraded SpaceX to a "buy" rating in a research note on Monday, June 22nd. Four investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, SpaceX presently has a consensus rating of "Moderate Buy" and an average target price of $230.50.

SpaceX Price Performance

SpaceX (NASDAQ:SPCX - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.27) EPS for the quarter. The business had revenue of $4.69 billion for the quarter.

Institutional Trading of SpaceX

Hedge funds have recently modified their holdings of the stock. Atwood & Palmer Inc. purchased a new position in SpaceX during the second quarter valued at approximately $29,000. Marquette Asset Management LLC acquired a new stake in shares of SpaceX during the 2nd quarter worth approximately $32,000. Burkett Financial Services LLC acquired a new stake in shares of SpaceX during the 2nd quarter worth approximately $70,000. Contravisory Investment Management Inc. purchased a new position in shares of SpaceX during the 2nd quarter valued at approximately $73,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of SpaceX in the 2nd quarter valued at $89,000.

SpaceX Company Profile

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.

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.