SpaceX (NASDAQ:SPCX) Shares Down 13.6% - Here's What Happened

Key Points

• SpaceX shares fell 13.6% to $108.27 on heavy trading volume, despite quarterly revenue of $7.81 billion—up 91.9% year over year—and an adjusted EPS loss that beat analyst expectations.
• Investors focused on rising risks, including approximately $18.4 billion in capital expenditures, widening AI and space-related losses, and a potential increase in share supply when up to 912 million employee and pre-IPO shares become eligible for sale.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and a $229.39 target price, while management is targeting a $100 billion annualized revenue run rate by December and $1 trillion in annual revenue by 2030.

SpaceX (NASDAQ:SPCX - Get Free Report) traded down 13.6% on Wednesday . The company traded as low as $106.66 and last traded at $108.27. 201,563,685 shares were traded during mid-day trading, an increase of 91% from the average session volume of 105,425,617 shares. The stock had previously closed at $125.33.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX reported second-quarter revenue of $7.81 billion, up 91.9% year over year and ahead of analyst expectations. Its adjusted EPS loss of $0.09 also beat the expected $0.26 loss. Starlink remained the primary earnings driver, while AI-cloud contracts with customers including Anthropic and Google supported growth. Reuters earnings report
• Positive Sentiment: Management outlined aggressive long-term targets, including a $100 billion annualized revenue run rate by December and $1 trillion in annual revenue by 2030. SpaceX also expects Starlink expansion and AI-compute demand to accelerate. SpaceX revenue targets
• Positive Sentiment: Several analysts remained bullish despite the selloff. Bank of America maintained a Buy rating and $235 target, while Needham and Cantor Fitzgerald reiterated Buy or Overweight ratings with targets near $250. Analyst reaction
• Positive Sentiment: A $1.6 billion Pentagon contract and plans to expand Starlink Mobile into broader wireless services could add substantial future revenue and challenge traditional carriers. Pentagon contract
• Neutral Sentiment: Elon Musk said SpaceX will use Nvidia chips exclusively for its AI buildout. The decision benefits Nvidia but underscores how dependent SpaceX’s expansion is on continued investment in expensive computing infrastructure. Nvidia endorsement
• Negative Sentiment: Capital expenditures surged to approximately $18.4 billion, including about $15.8 billion for AI infrastructure. The scale of spending, combined with widening losses in AI and space operations and concerns about substantial cash burn, overshadowed the revenue and earnings beats. AI spending concerns
• Negative Sentiment: As many as 912 million employee and pre-IPO shares become eligible for sale on August 6. The potential increase in the public float is creating supply concerns and could add volatility. SpaceX lockup expiry
• Negative Sentiment: SpaceX also disclosed an unrealized $540 million loss on its Bitcoin holdings, adding to investor concerns about cash deployment and financial volatility. Bitcoin loss

Analyst Ratings Changes

SPCX has been the subject of a number of research reports. Raymond James Financial reissued a "strong-buy" rating on shares of SpaceX in a report on Monday, July 27th. Wolfe Research reissued an "outperform" rating on shares of SpaceX in a research note on Wednesday. William Blair reissued an "outperform" rating on shares of SpaceX in a research report on Friday, July 31st. HSBC initiated coverage on SpaceX in a research report on Thursday, July 23rd. They issued a "hold" rating and a $115.00 price objective for the company. Finally, Barclays raised SpaceX from an "underweight" rating to an "overweight" rating in a research note on Monday, June 22nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, SpaceX currently has a consensus rating of "Moderate Buy" and a consensus target price of $229.39.

SpaceX Stock Down 13.6%

SpaceX (NASDAQ:SPCX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share 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 business's quarterly revenue was up 91.9% on a year-over-year basis.

Institutional Investors Weigh In On SpaceX

A number of institutional investors have recently made changes to their positions in the company. Atwood & Palmer Inc. acquired a new stake in SpaceX in the 2nd quarter worth about $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 bought a new position in SpaceX in the second quarter valued at approximately $70,000. Contravisory Investment Management Inc. acquired a new position in 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.

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.

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