SpaceX $SPCX Stock Sold by UG Investment Advisers Ltd.

UG Investment Advisers Ltd. reduced its stake in SpaceX (NASDAQ:SPCX) by 87.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,826 shares of the company’s stock after selling 65,886 shares during the period. SpaceX comprises approximately 1.6% of UG Investment Advisers Ltd.’s investment portfolio, making the stock its 8th largest position. UG Investment Advisers Ltd.’s holdings in SpaceX were worth $1,482,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Syntax Research Inc. acquired a new position in SpaceX during the 2nd quarter worth approximately $26,000. Atwood & Palmer Inc. acquired a new stake in SpaceX in the second quarter valued at approximately $29,000. PayPay Securities Corp acquired a new stake in SpaceX in the second quarter valued at approximately $30,000. Hickory Point Bank & Trust bought a new stake in shares of SpaceX during the third quarter worth $30,000. Finally, Maryland Capital Advisors Inc. bought a new stake in shares of SpaceX during the third quarter worth $30,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SPCX shares. Pivotal Research increased their price target on SpaceX from $230.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, October 21st. Seaport Research Partners downgraded SpaceX from a “buy” rating to a “neutral” rating in a report on Friday, August 7th. Wall Street Zen upgraded SpaceX from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Deutsche Bank reaffirmed a “buy” rating and issued a $235.00 target price on shares of SpaceX in a report on Monday, September 28th. Finally, Mizuho set a $205.00 target price on SpaceX in a research report on Wednesday, October 21st. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.60.

SpaceX Stock Up 0.1%

NASDAQ SPCX opened at $139.94 on Friday. The firm has a market capitalization of $1.90 trillion and a P/E ratio of 538.23. SpaceX has a twelve month low of $104.83 and a twelve month high of $225.64. The firm has a fifty day moving average of $149.12. The company has a quick ratio of 3.00, a current ratio of 3.08 and a debt-to-equity ratio of 0.20.

SpaceX (NASDAQ:SPCX) last announced its earnings results on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.10 by $0.25. The firm had revenue of $14.57 billion for the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The firm’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. Research analysts expect that SpaceX will post 0.22 earnings per share for the current fiscal year.

Insider Activity

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

Recent SpaceX Headlines

These are some of the SPCX headlines that stood out recently:

• Positive Sentiment: SpaceX plans to invest more than $74 billion in supercomputing campuses in Texas and Arizona—about $24 billion in Texas and $50 billion in Arizona. The projects could expand its AI infrastructure capacity and support a major growth area. Reuters article
• Positive Sentiment: Investors are also responding to speculation that former Nvidia CEO Jensen Huang could join SpaceX after Elon Musk said hiring him “would be an honor.” A move could bolster the company’s AI ambitions, but no hiring decision has been announced. Benzinga article
• Neutral Sentiment: A planned Starship Flight 15, including an attempt to catch both rocket stages, is a high-profile test of SpaceX’s reusability plans. Success could strengthen confidence in its long-term ambitions, while the outcome remains uncertain. Barchart article

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.