SpaceX (NASDAQ:SPCX) Sets New 52-Week Low - Here's Why

Key Points

• SpaceX hit a new 52-week low, trading as low as $120.26 and closing near $122.34 after previously finishing at $123.99. The stock has been under pressure amid concerns that its valuation is still too rich for its current business mix.
• Despite the weakness, analysts remain mixed-to-bullish overall, with firms like UBS, Barclays, Needham, and TD Cowen issuing buy or overweight views and a consensus target around $234.78. Some commentary still sees significant upside if SpaceX’s AI ambitions gain traction.
• Several near-term catalysts could influence sentiment, including talks about a potential Pentagon AI-related computing contract and an upcoming Starship test flight. However, looming IPO lockup expirations and recent paper-value losses may add volatility and selling pressure.

SpaceX (NASDAQ:SPCX - Get Free Report) reached a new 52-week low on Monday . The company traded as low as $120.26 and last traded at $122.3410, with a volume of 15526393 shares. The stock had previously closed at $123.99.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Analyst and strategist coverage remains constructive in spots, with Morgan Stanley reiterating a Buy rating and a $300 target, while another analyst sees the stock potentially reaching $800 if SpaceX’s AI ambitions scale successfully. Article: SpaceX’s Energy-to-Intelligence Edge Drives Sustained Buy Rating and Unchanged $300 Price Target
• Positive Sentiment: Reports that SpaceX is in talks to provide computing power for the Pentagon’s AI push could open a new high-margin growth avenue beyond rockets and Starlink. Article: SpaceX Is in Talks on a Multibillion Dollar Defense Contract. Here Is What It Means for Investors
• Positive Sentiment: SpaceX also announced its next Starship test flight for July 23, giving investors a near-term catalyst that could improve sentiment if the launch goes well. Article: SpaceX moves Starship launch attempt to Thursday
• Neutral Sentiment: Several articles frame the stock as a major IPO winner that is now facing a reality check, with traders reassessing whether the company’s rapid growth justifies its rich valuation. Article: SpaceX gave investors intense FOMO...
• Neutral Sentiment: SpaceX’s inclusion in the Nasdaq-100 and ongoing bullish long-term forecasts keep the name in focus, but they have not been enough to offset the recent weakness. Article: How to Invest in SpaceX Stock After Its Nasdaq-100 Debut
• Negative Sentiment: SpaceX has lost its IPO premium, fallen below its IPO price, and hit record lows as investors worry that the valuation is still too high for the current business mix. Article: Prediction: This Is Where SpaceX Stock Will Finish 2026
• Negative Sentiment: Recent headlines also highlight massive paper-value losses and near-term selling pressure from an upcoming lockup expiration, both of which could keep the stock volatile. Article: SpaceX's IPO Lockup Starts Expiring in August. Here's Why the Next Wave of Sellers Could Be the Real Test.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Daiwa Securities Group initiated coverage on SpaceX in a research note on Thursday, July 2nd. They issued a "neutral" rating and a $175.00 price target for the company. Barclays raised SpaceX from an "underweight" rating to an "overweight" rating in a report on Monday, June 22nd. UBS Group began coverage on SpaceX in a research note on Tuesday, July 7th. They set a "buy" rating and a $210.00 price target on the stock. Needham & Company LLC raised their price objective on shares of SpaceX from $200.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. Finally, TD Cowen assumed coverage on shares of SpaceX in a research note on Monday, June 22nd. They set a "buy" rating for the company. Four research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $234.78.

SpaceX Trading Down 0.9%

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Atwood & Palmer Inc. bought a new stake in SpaceX in the 2nd quarter worth about $29,000. Marquette Asset Management LLC bought a new position in shares of SpaceX during the 2nd quarter worth approximately $32,000. Burkett Financial Services LLC purchased a new position in shares of SpaceX in the 2nd quarter worth approximately $70,000. Contravisory Investment Management Inc. purchased a new stake in shares of SpaceX during the second quarter valued at approximately $73,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in SpaceX during the second quarter worth $89,000.

About SpaceX

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.

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