Sageworth Trust Co Buys 66,706 Shares of SpaceX $SPCX

Sageworth Trust Co increased its position in shares of SpaceX (NASDAQ:SPCX) by 2,161.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 69,792 shares of the company’s stock after acquiring an additional 66,706 shares during the quarter. SpaceX comprises approximately 0.4% of Sageworth Trust Co’s portfolio, making the stock its 22nd biggest holding. Sageworth Trust Co’s holdings in SpaceX were worth $10,529,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Syntax Research Inc. purchased a new position in SpaceX during the second quarter worth about $26,000. Atwood & Palmer Inc. acquired a new position in SpaceX in the 2nd quarter valued at about $29,000. PayPay Securities Corp purchased a new stake in shares of SpaceX in the 2nd quarter valued at approximately $30,000. Hickory Point Bank & Trust purchased a new stake in shares of SpaceX in the 3rd quarter valued at approximately $30,000. Finally, Maryland Capital Advisors Inc. acquired a new stake in shares of SpaceX during the 3rd quarter worth approximately $30,000.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX selected Qualcomm to provide 5G network technology for Starlink Mobile, supporting its plan to build a nationwide wireless service and potentially opening a new revenue stream. SpaceX selects Qualcomm for Starlink Mobile
• Neutral Sentiment: Recent results showed strong momentum: third-quarter revenue rose 161%, while the Super Intelligence segment grew rapidly. However, the AI build-out requires heavy investment, and the eventual returns remain uncertain. SPCX cloud growth reshapes earnings after Q3 beat
• Negative Sentiment: Democratic gains in Congress and key state races have raised concerns about tougher oversight of AI data centers and potential obstacles to SpaceX’s infrastructure plans. The election outcome has also increased uncertainty around a possible SpaceX–Tesla merger. Why SpaceX stock is down today
• Negative Sentiment: Investors also face concerns about elevated spending, execution risks and a valuation that depends heavily on future growth. Commentary on the AI data-center opportunity notes that substantial profits may take time to materialize. SpaceX stock can get a lift from the Anthropic IPO, but remains unappealing

SpaceX Stock Down 3.8%

NASDAQ:SPCX opened at $135.92 on Thursday. The company has a quick ratio of 3.00, a current ratio of 3.08 and a debt-to-equity ratio of 0.20. The stock’s fifty day moving average price is $149.64. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The firm has a market capitalization of $1.85 trillion and a PE ratio of 522.77.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.25. The business had revenue of $14.57 billion during the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The company’s quarterly revenue was up 161.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.36) earnings per share. On average, sell-side analysts expect that SpaceX will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Gwynne Shotwell sold 342,170 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the completion of the transaction, the chief operating officer directly owned 2,472,035 shares in the company, valued at $379,630,414.95. This trade represents a 12.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of SpaceX in a research report on Monday, October 19th. CLSA initiated coverage on SpaceX in a research report on Monday, September 28th. They issued an “outperform” rating and a $250.00 price objective for the company. Raymond James Financial reissued a “strong-buy” rating on shares of SpaceX in a research note on Wednesday, October 14th. KeyCorp restated a “sector weight” rating on shares of SpaceX in a research report on Wednesday, October 21st. Finally, Citigroup upped their price target on SpaceX from $200.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, October 21st. Four analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $244.97.

About SpaceX

Space Exploration Technologies Corp., commonly known as SpaceX, is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles and spacecraft designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s principal products and services include the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starlink satellite communications network. Falcon rockets are used to launch satellites, cargo and crew, while Dragon spacecraft support transportation to and from low Earth orbit.