SpaceX $SPCX Stock Holdings Boosted by King Luther Capital Management Corp

King Luther Capital Management Corp boosted its position in shares of SpaceX (NASDAQ:SPCX) by 43.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,384 shares of the company’s stock after buying an additional 21,800 shares during the quarter. King Luther Capital Management Corp’s holdings in SpaceX were worth $10,920,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Viking Fund Management LLC purchased a new stake in SpaceX during the third quarter worth $1,358,000. Diversify Advisory Services LLC boosted its position in SpaceX by 34.0% during the 3rd quarter. Diversify Advisory Services LLC now owns 48,477 shares of the company’s stock valued at $7,205,000 after acquiring an additional 12,292 shares in the last quarter. Avior Wealth Management LLC purchased a new position in shares of SpaceX in the 3rd quarter valued at $2,934,000. Wedbush Securities Inc. purchased a new position in shares of SpaceX in the 2nd quarter valued at $5,094,000. Finally, Apella Capital LLC raised its position in shares of SpaceX by 218.2% in the 3rd quarter. Apella Capital LLC now owns 8,424 shares of the company’s stock worth $1,412,000 after acquiring an additional 5,777 shares in the last quarter.

SpaceX Trading Up 0.1%

Shares of SpaceX stock opened at $139.94 on Friday. The company’s 50 day moving average is $149.12. The firm has a market cap of $1.90 trillion and a price-to-earnings ratio of 538.23. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00.

SpaceX (NASDAQ:SPCX) last released its earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, beating 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%. SpaceX’s revenue was up 161.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.36) earnings per share. On average, sell-side analysts predict that SpaceX will post 0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the business’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 sale, the chief operating officer owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. The trade was a 12.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SPCX. Piper Sandler restated a “neutral” rating on shares of SpaceX in a research note on Wednesday, October 21st. HSBC reiterated a “hold” rating on shares of SpaceX in a report on Wednesday, October 21st. The Goldman Sachs Group reiterated a “buy” rating and issued a $245.00 target price on shares of SpaceX in a report on Wednesday, October 21st. Wall Street Zen raised shares of SpaceX from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Finally, Argus upgraded shares of SpaceX from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Friday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.60.

Key Stories Impacting SpaceX

These are some of the SPCX stories 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
• 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
• Negative Sentiment: The data-center plans require enormous spending and face local approval and infrastructure questions. Analysts have also cautioned that SpaceX will need to work with Texas officials after recent election results to advance its projects, leaving timing and execution risks. Benzinga article

SpaceX Company Profile

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.