SpaceX (NASDAQ:SPCX) Stock Price Down 3.3% - Here's What Happened

Key Points

• SpaceX shares fell 3.3% to $141.29 in heavy midday trading, with volume slightly above average.
• The company reported 91.9% year-over-year revenue growth to $7.81 billion and a quarterly loss of $0.09 per share, beating analyst expectations. Growth in Starlink, satellite launches, and AI-compute leasing—including 1.4 gigawatts of capacity online—supported the business outlook.
• Analyst sentiment remains positive but mixed: SpaceX has a consensus “Moderate Buy” rating and a $229 target price, although Piper Sandler cut its target to $140 and RBC downgraded the stock to “Hold.”

SpaceX (NASDAQ:SPCX - Get Free Report) shares fell 3.3% during trading on Thursday . The stock traded as low as $139.76 and last traded at $141.29. 119,301,689 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 116,298,023 shares. The stock had previously closed at $146.15.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX’s launch of Grok 4.6, which emphasizes visual applications and coding performance, strengthened the perception that the company can become a major AI platform. Morgan Stanley reiterated its Buy rating and $300 price target, citing potential value from Grok and the Cursor coding product. SpaceX Rockets 10% on Grok 4.6 Release
• Positive Sentiment: CEO Elon Musk told employees that AI compute leasing could become SpaceX’s largest revenue source as soon as September. The company reportedly has 1.4 gigawatts of AI capacity online and is targeting 10 gigawatts next year, with large customer commitments from companies including Anthropic and Google Cloud. SpaceX Has 1.4 Gigawatts of AI Capacity Online
• Positive Sentiment: SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, and posted a smaller-than-expected loss. Starlink subscriber growth, successful satellite launches and new service availability in Vietnam provide additional support for the core business. Starlink Starts Taking Orders in Vietnam

Analyst Ratings Changes

Several research firms recently issued reports on SPCX. Piper Sandler decreased their target price on shares of SpaceX from $156.00 to $140.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 5th. Royal Bank Of Canada lowered shares of SpaceX from an "outperform" rating to a "hold" rating in a research report on Friday, August 7th. Clear Str upgraded shares of SpaceX to a "strong-buy" rating in a report on Tuesday, July 7th. Mizuho started coverage on shares of SpaceX in a research note on Tuesday, July 7th. They set an "outperform" rating and a $200.00 price objective for the company. Finally, Barclays upgraded SpaceX from an "underweight" rating to an "overweight" rating in a report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, SpaceX has an average rating of "Moderate Buy" and a consensus target price of $229.00.

SpaceX Trading Down 3.3%

The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. The stock has a market capitalization of $1.85 trillion and a price-to-earnings ratio of -1,569.89. The firm's 50 day moving average price is $143.08.

SpaceX (NASDAQ:SPCX - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (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. SpaceX's quarterly revenue was up 91.9% on a year-over-year basis. As a group, research analysts forecast that SpaceX will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On SpaceX

A number of hedge funds have recently made changes to their positions in SPCX. KERR FINANCIAL PLANNING Corp acquired a new position in shares of SpaceX during the 2nd quarter valued at $566,000. Burkett Financial Services LLC acquired a new stake in SpaceX in the 2nd quarter valued at $70,000. Dogwood Wealth Management LLC purchased a new position in SpaceX in the second quarter valued at about $139,000. Dynamic Advisor Solutions LLC purchased a new position in SpaceX in the second quarter valued at about $3,383,000. Finally, Apella Capital LLC acquired a new position in shares of SpaceX during the second quarter worth about $452,000.

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.

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