SpaceX (NASDAQ:SPCX) Trading Up 2.6% - Here's Why

Key Points

• SpaceX shares rose 2.6% on Thursday, reaching an intraday high of $118.55 before closing at $118.24. Trading volume was below average, with 73.9 million shares changing hands versus the typical 112.0 million.
• Investors are focused on several bullish catalysts, including the upcoming Starship Flight 13 test launch and Alphabet’s disclosed roughly $94.1 billion stake in SpaceX. Cathie Wood’s ARK Invest also reportedly added to its position.
• Despite the positive momentum, the stock faces meaningful headwinds, including valuation concerns, upcoming insider lock-up expirations, and short-seller skepticism. Analysts currently peg SpaceX at a consensus Moderate Buy with a target price of $234.78.

Shares of SpaceX (NASDAQ:SPCX - Get Free Report) rose 2.6% during trading on Thursday . The stock traded as high as $118.55 and last traded at $118.24. 73,923,136 shares traded hands during trading, a decline of 34% from the average session volume of 112,037,086 shares. The stock had previously closed at $115.26.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Investors are looking ahead to SpaceX’s Starship Flight 13 test launch, which could support the stock if the mission goes well and reinforces the company’s launch cadence and cost-reduction story. SpaceX Wants to Punch Down Launch Costs with 13th Starship Test Flight Tonight
• Positive Sentiment: Alphabet disclosed a roughly $94.1 billion stake in SpaceX, a signal that a major strategic investor sees significant value in the company. Google Discloses $94.1 Billion in SpaceX Stock, Marking 6% Stake
• Positive Sentiment: Cathie Wood’s ARK Invest added to its SpaceX position, reinforcing bullish long-term conviction from a well-known growth investor. SPCX, ACHR, HOOD: Cathie Wood Loads Up on SpaceX and Archer, Cuts Robinhood
• Neutral Sentiment: SpaceX’s first public earnings report is due on August 4, which is keeping the stock in focus, but investors are still waiting for hard financial proof that the business can support its valuation. SpaceX Stock Price Forecast — Can Starship’s Next Launch and Q2 Earnings Lift SPCX?
• Neutral Sentiment: SpaceX has also been highlighted for possible orbital data-center and AI infrastructure plans, but those ideas are still speculative and being debated by skeptics. SpaceX plans Texas data center expansion, The Information reports
• Negative Sentiment: Bearish commentary around SpaceX’s valuation, junk debt, and weak post-IPO performance is pressuring sentiment, with several articles warning the stock may have further downside if expectations reset. Peter Schiff Sounds the Alarm on SpaceX’s Junk Debt and SPCX’s Post-IPO Stock Crash
• Negative Sentiment: Another major overhang is the upcoming expiration of insider lock-ups, which could increase share supply and intensify selling pressure. A Lot More SpaceX Shares Are About to Come Onto the Market
• Negative Sentiment: Several reports also note that short sellers are gaining as SpaceX slides from its highs, reflecting broad skepticism about the stock’s near-term path. Short Sellers Gain as SpaceX Stock Slumps. Everyday Investors Are in the Red.

Analyst Ratings Changes

A number of equities analysts have weighed in on SPCX shares. KeyCorp began coverage on shares of SpaceX in a report on Monday, June 22nd. They issued a "sector weight" rating on the stock. Morgan Stanley set a $225.00 price objective on SpaceX in a report on Thursday, July 16th. Cantor Fitzgerald began coverage on SpaceX in a research report on Tuesday, July 7th. They issued an "overweight" rating and a $246.00 target price on the stock. Mizuho initiated coverage on SpaceX in a research report on Tuesday, July 7th. They set an "outperform" rating and a $200.00 price target for the company. Finally, Citigroup began coverage on SpaceX in a research note on Tuesday, July 7th. They set a "buy" rating and a $200.00 price target for the company. Four analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, SpaceX currently has a consensus rating of "Moderate Buy" and a consensus target price of $234.78.

SpaceX Stock Performance

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

Institutional Investors Weigh In On SpaceX

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

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.

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