SpaceX (NASDAQ:SPCX) Stock Price Down 2.7% - Should You Sell?

Key Points

• SpaceX shares fell 2.7% on Friday, trading between $111.40 and $115.07 after closing at $118.24, with volume well below average. The stock’s pullback comes amid renewed pressure around valuation and near-term catalysts.
• Sentiment is mixed but there are notable positives: Alphabet reportedly disclosed a roughly $94 billion stake in SpaceX, and the company may be expanding into AI data centers in Texas. Those developments suggest strong investor confidence and potential growth beyond rockets.
• Key risks remain as analysts point to a Hold rating from HSBC, repeated Starship launch delays, and concerns about heavy short interest and possible share unlock selling. SpaceX’s first quarterly earnings report as a public company is also due Aug. 4, making it a major near-term test.

SpaceX (NASDAQ:SPCX - Get Free Report)'s stock price dropped 2.7% on Friday . The company traded as low as $111.40 and last traded at $115.07. 53,741,865 shares changed hands during trading, a decline of 51% from the average session volume of 109,851,375 shares. The stock had previously closed at $118.24.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Alphabet disclosed a roughly $94 billion stake in SpaceX, reinforcing strong strategic investor confidence and highlighting a major customer relationship that could support future AI/data-center opportunities. Article Title
• Positive Sentiment: Reports that SpaceX is scouting Texas for new AI data centers suggest the company may be expanding beyond rockets into a higher-growth compute business, which some analysts say points to continued demand. Article Title
• Neutral Sentiment: SpaceX is preparing for its 13th Starship test flight after earlier scrubs, and investors are watching closely because a successful launch could improve sentiment and show progress on key execution milestones. Article Title
• Neutral Sentiment: SpaceX’s first quarterly earnings report as a public company is due on Aug. 4, giving investors a key near-term catalyst to judge revenue growth, margins, and execution against its premium valuation. Article Title
• Neutral Sentiment: Several articles highlight that Cathie Wood and some ETFs continue buying SpaceX, but these flows are being offset by broader concerns about valuation and upcoming share unlocks. Article Title
• Negative Sentiment: HSBC initiated coverage with a Hold rating and a price target below SpaceX’s IPO price, adding to bearish analyst sentiment and reinforcing concerns that the stock may have run ahead of fundamentals. Article Title
• Negative Sentiment: Weather-related delays pushed back the Starship launch again, which weighs on sentiment because repeated postponements raise questions about execution and near-term catalysts. Article Title
• Negative Sentiment: Broader commentary on heavy short interest, a looming lock-up expiration, and persistent selling pressure suggests more supply could hit the market, which may keep the stock weak in the short term. Article Title

Analyst Ratings Changes

SPCX has been the subject of a number of research reports. Citigroup began coverage on SpaceX in a research report on Tuesday, July 7th. They set a "buy" rating and a $200.00 price target for the company. Seaport Research Partners upgraded SpaceX to a "buy" rating in a report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft started coverage on SpaceX in a report on Tuesday, July 7th. They set a "buy" rating and a $255.00 target price for the company. New Street Research raised shares of SpaceX to a "strong-buy" rating in a research report on Thursday, June 11th. Finally, Piper Sandler assumed coverage on shares of SpaceX in a research report on Wednesday, July 15th. They set a "neutral" rating and a $156.00 price target on the stock. Four investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $230.50.

SpaceX Trading Down 2.7%

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

Institutional Trading of SpaceX

A number of institutional investors and hedge funds have recently modified their holdings of the business. Hyperion Asset Management Ltd bought a new position in shares of SpaceX during the second quarter valued at approximately $201,137,000. Abound Wealth Management acquired a new position in shares of SpaceX during the second quarter worth approximately $350,000. Accel Wealth Management bought a new position in SpaceX in the 2nd quarter worth approximately $203,000. Heck Capital Advisors LLC acquired a new stake in SpaceX in the 2nd quarter valued at approximately $3,768,000. Finally, JFS Wealth Advisors LLC bought a new stake in shares of SpaceX during the second quarter valued at about $325,000.

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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