SpaceX (NASDAQ:SPCX) Stock Price Down 1.4% – What’s Next?

SpaceX (NASDAQ:SPCX) traded down 1.4% during mid-day trading on Monday . The stock traded as low as $108.66 and last traded at $113.50. 63,858,974 shares were traded during trading, a decline of 41% from the average daily volume of 108,357,578 shares. The stock had previously closed at $115.07.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX’s 13th Starship test flight was described as largely successful, supporting the company’s launch and space-infrastructure growth outlook. The company also launched Northrop Grumman’s satellite-servicing mission, opening a potential new commercial market for on-orbit repairs. Starship Flight 13 Strengthens the Bull Case
• Positive Sentiment: ARK Invest reportedly purchased $21.3 million of SpaceX shares during the selloff, while Vanguard ETFs and other index funds are accumulating shares as the public float expands. These purchases may provide ongoing demand, although passive buying does not necessarily reflect a valuation judgment. Cathie Wood’s ARK Purchase
• Positive Sentiment: Starlink provided free satellite texting in wildfire-affected areas of Spain, highlighting the service’s resiliency and public-utility potential. SpaceX also joined an AI security initiative with Nvidia and other technology companies, though neither development is expected to materially affect near-term earnings.
• Neutral Sentiment: SpaceX is scheduled to report its first quarterly results as a public company on August 4. Investors will seek details on revenue growth, operating losses, cash burn, AI plans and financing needs. CME Group’s launch of nearly 24-hour single-stock futures linked to SPCX improves trading access but does not change the company’s fundamentals. CME Single-Stock Futures
• Negative Sentiment: The biggest pressure is the August 6 lock-up expiration, which could allow early investors to sell nearly one billion shares—potentially far exceeding the IPO supply. This overhang is weighing on the stock ahead of earnings.
• Negative Sentiment: HSBC initiated coverage with a Hold rating and a $115 price target, below SpaceX’s $135 IPO price, while warning about substantial cash-burn and financing requirements. Analysts also continue to view the company’s valuation as heavily dependent on future AI and Starlink growth. HSBC SpaceX Coverage
• Negative Sentiment: Amazon’s proposed 5,105-satellite mobile-phone network could intensify competition for Starlink, while speculation about a Tesla-SpaceX merger is providing little support because investors lack confirmed transaction terms. Amazon Satellite Network Competition

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SPCX shares. Evercore began coverage on SpaceX in a report on Tuesday, July 14th. They issued an “outperform” rating and a $230.00 target price on the stock. Cantor Fitzgerald assumed coverage on SpaceX in a report on Tuesday, July 7th. They issued an “overweight” rating and a $246.00 price objective on the stock. UBS Group assumed coverage on SpaceX in a research note on Tuesday, July 7th. They issued a “buy” rating and a $210.00 price objective on the stock. Cfra began coverage on SpaceX in a report on Friday, June 12th. They set a “sell” rating and a $115.00 target price for the company. Finally, Mizuho started coverage on shares of SpaceX in a research report on Tuesday, July 7th. They set an “outperform” rating and a $200.00 target price for the company. Four analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $230.50.

SpaceX Stock Performance

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.27) earnings per share (EPS) for the quarter. The business had revenue of $4.69 billion for the quarter.

Institutional Trading of SpaceX

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hyperion Asset Management Ltd acquired a new position in shares of SpaceX in the second quarter worth about $201,137,000. Tema ETFs LLC acquired a new stake in SpaceX during the 2nd quarter valued at approximately $32,037,000. Teamwork Financial Advisors LLC purchased a new stake in SpaceX during the 2nd quarter worth approximately $8,027,000. Heck Capital Advisors LLC acquired a new position in shares of SpaceX in the 2nd quarter valued at approximately $3,768,000. Finally, Dynamic Advisor Solutions LLC purchased a new position in shares of SpaceX during 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.