SpaceX (NASDAQ:SPCX) Stock Price Down 3.3% – What’s Next?

SpaceX (NASDAQ:SPCX)’s stock price fell 3.3% during trading on Thursday . The stock traded as low as $139.76 and last traded at $141.29. Approximately 119,301,689 shares traded hands during trading, an increase of 3% from the average daily volume of 116,298,023 shares. The stock had previously closed at $146.15.

Key Headlines Impacting SpaceX

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 Upgrades and Downgrades

A number of equities analysts have weighed in on SPCX shares. KGI Securities cut SpaceX from an “outperform” rating to a “hold” rating in a report on Monday, June 22nd. Susquehanna cut shares of SpaceX from a “neutral” rating to an “underperform” rating in a research report on Friday, August 7th. Guggenheim assumed coverage on shares of SpaceX in a research note on Friday, August 7th. They issued a “buy” rating for the company. New Street Research raised shares of SpaceX to a “strong-buy” rating in a report on Thursday, June 11th. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of SpaceX in a research note on Wednesday, August 5th. Two equities research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, SpaceX presently has an average rating of “Moderate Buy” and a consensus price target of $229.00.

SpaceX Trading Down 3.3%

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

SpaceX (NASDAQ:SPCX) last announced its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17. The business had revenue of $7.81 billion during the quarter. The company’s revenue for the quarter was up 91.9% compared to the same quarter last year. Research analysts anticipate that SpaceX will post -0.15 EPS for the current fiscal year.

Institutional Trading of SpaceX

Several institutional investors have recently added to or reduced their stakes in SPCX. Atwood & Palmer Inc. acquired a new position in SpaceX during the 2nd quarter worth $29,000. Marquette Asset Management LLC bought a new stake in shares of SpaceX in the 2nd quarter worth about $32,000. Burkett Financial Services LLC acquired a new stake in shares of SpaceX in the 2nd quarter valued at about $70,000. Contravisory Investment Management Inc. bought a new position in shares of SpaceX during the second quarter worth about $73,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of SpaceX during the second quarter worth about $89,000.

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.