SpaceX (NASDAQ:SPCX) Trading 9.6% Higher - Time to Buy?

Key Points

• SpaceX shares jumped 9.6% to $146.15 on heavy volume, supported by a successful Starlink launch, subscriber growth and a sharp decline in short interest.
• Investors are increasingly focused on SpaceX’s AI potential, including Grok, Cursor and planned computing infrastructure. Musk and bullish analysts have outlined significant future revenue and valuation upside, but these projections depend on substantial execution and remain unproven.
• The stock has a “Moderate Buy” consensus with a $229 price target, while risks include potential insider share unlocks and dilution, capital-intensive AI expansion, and a possible $42.5 billion supply event on August 21.

SpaceX (NASDAQ:SPCX - Get Free Report) shares traded up 9.6% on Wednesday . The stock traded as high as $149.60 and last traded at $146.15. 165,364,188 shares changed hands during mid-day trading, an increase of 43% from the average session volume of 115,958,148 shares. The stock had previously closed at $133.29.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: CEO Elon Musk said SpaceX’s AI revenue could surpass revenue from all of its other space-related businesses as soon as September 2026. He also suggested AI could help SpaceX generate as much as $500 billion in revenue in 2028, although these are forward-looking targets rather than current results. Elon Musk says SpaceX's AI revenue will outpace all its other products by next month
• Positive Sentiment: SpaceX unveiled Grok 4.6, with Musk calling it the leading AI model on intelligence, speed and cost. Investors are increasingly viewing Grok, Cursor and SpaceX’s planned computing infrastructure as a potentially high-margin software business. SpaceX Just Unveiled Grok 4.6
• Positive Sentiment: Morgan Stanley argued that investors may be undervaluing SpaceX’s AI operations and cited significant upside if the company demonstrates that Grok and Cursor can work together. The bullish thesis includes a potential $600 valuation scenario, but it depends on substantial execution and revenue growth. Morgan Stanley Warns Investors Underestimating SpaceX's AI Unit
• Positive Sentiment: A successful Falcon 9 launch deployed 24 Starlink satellites, while Musk reported 13 million consumer subscribers and 22 million monthly Starlink Mobile users. The launch reinforces SpaceX’s recurring connectivity growth story. Why SpaceX Is Getting a Stock Bounce After Starlink Satellite Launch
• Positive Sentiment: Short interest reportedly declined sharply to about 11% of publicly traded shares from 34% the previous week, suggesting that short covering helped amplify the rebound. SpaceX short sellers are running out of bullets as stock rebounds
• Neutral Sentiment: Norway’s sovereign wealth fund disclosed an approximately $1.2 billion SpaceX stake, providing an institutional-validation signal, though the disclosure does not necessarily represent a new purchase.
• Negative Sentiment: Investors still face dilution and selling risks from additional insider share unlocks, including a potential $42.5 billion supply event on August 21. SpaceX’s ambitious AI expansion also requires heavy capital spending, and many bullish forecasts rely on unproven future revenue.

Analyst Ratings Changes

SPCX has been the subject of several analyst reports. Evercore began coverage on SpaceX in a research note on Tuesday, July 14th. They issued an "outperform" rating and a $230.00 price objective for the company. Daiwa Securities Group assumed coverage on SpaceX in a research report on Thursday, July 2nd. They set a "neutral" rating and a $175.00 target price on the stock. Royal Bank Of Canada cut SpaceX from an "outperform" rating to a "hold" rating in a research report on Friday, August 7th. Oppenheimer raised their price objective on SpaceX from $190.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, June 18th. Finally, Roth Capital upgraded SpaceX to a "buy" rating in a research note on Monday, June 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.00.

SpaceX Stock Performance

The firm has a 50-day simple moving average of $143.01. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12.

SpaceX (NASDAQ:SPCX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.17. The company had revenue of $7.81 billion during the quarter. The business's revenue was up 91.9% on a year-over-year basis. On average, analysts expect that SpaceX will post -0.15 EPS for the current year.

Hedge Funds Weigh In On SpaceX

Several institutional investors have recently added to or reduced their stakes in SPCX. Hyperion Asset Management Ltd purchased a new stake in shares of SpaceX during the 2nd quarter worth approximately $201,137,000. Tema ETFs LLC purchased a new position in shares of SpaceX in the second quarter valued at $32,037,000. Teamwork Financial Advisors LLC bought a new stake in SpaceX in the second quarter worth $8,027,000. Heck Capital Advisors LLC purchased a new stake in SpaceX during the second quarter valued at $3,768,000. Finally, Dynamic Advisor Solutions LLC bought a new position in SpaceX during the second quarter valued at $3,383,000.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source