SpaceX (NASDAQ:SPCX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of SpaceX (NASDAQ:SPCX) from a sell rating to a hold rating in a research note published on Saturday.

SPCX has been the topic of a number of other research reports. HSBC began coverage on shares of SpaceX in a research note on Thursday, July 23rd. They set a “hold” rating and a $115.00 price objective on the stock. Guggenheim initiated coverage on shares of SpaceX in a research note on Friday. They set a “buy” rating on the stock. KeyCorp reiterated a “sector weight” rating on shares of SpaceX in a report on Tuesday, July 28th. Benchmark started coverage on shares of SpaceX in a research report on Monday, June 22nd. They issued a “buy” rating for the company. Finally, Morgan Stanley restated an “overweight” rating on shares of SpaceX in a research note on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $227.31.

SpaceX Price Performance

Shares of SPCX stock opened at $138.74 on Friday. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. The company has a fifty day simple moving average of $143.24. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64.

SpaceX (NASDAQ:SPCX) last posted 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 company had revenue of $7.81 billion during the quarter. The firm’s revenue for the quarter was up 91.9% on a year-over-year basis. As a group, research analysts forecast that SpaceX will post -0.11 earnings per share for the current year.

Institutional Trading of SpaceX

Several institutional investors have recently added to or reduced their stakes in SPCX. Atwood & Palmer Inc. bought a new position in SpaceX during the 2nd quarter valued at $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 News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: The expiration of a lockup covering roughly 900 million to 911 million shares did not trigger the sharp selloff investors had feared. The stock’s resilience suggests that much of the potential insider selling had already been anticipated. Another release is expected on August 20, making future supply a key trading risk. SpaceX’s First Lockup Expired Last Week
• Positive Sentiment: SpaceX reported $7.81 billion of quarterly revenue, up 91.9% year over year, and a loss of $0.09 per share that was narrower than analysts expected. The strong top-line growth is supporting the bullish view that Starlink and the company’s launch business can become major long-term growth engines. SpaceX stock rebounds to near $135 IPO price
• Positive Sentiment: ARK Invest bought approximately $13.2 million of SpaceX shares after the earnings-related selloff, while some analysts upgraded the stock. Support from high-profile investors is reinforcing the recovery and short-squeeze speculation. Why Cathie Wood is piling into SpaceX stock
• Neutral Sentiment: A planned launch using a Falcon 9 booster for its 18th flight highlights SpaceX’s reusability advantage and operational execution, but a routine launch is unlikely to materially change valuation by itself. SpaceX Will Fly the Same Falcon 9 Booster for an 18th Time
• Negative Sentiment: Investors remain concerned about massive capital expenditures of $18.4 billion in the quarter, with AI-related spending representing most of the total. SpaceX continues to lose money, and its valuation already assumes successful execution of ambitious AI, Starlink, and orbital data-center plans. Elon Musk’s SpaceX Just Delivered Its First Earnings Report
• Negative Sentiment: Retail investors became net sellers for the first time since the IPO, and skeptics describe SpaceX as highly speculative. Potential future insider selling and the company’s continued cash burn could limit the recovery. Retail investors sold SpaceX shares for first time

About SpaceX

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.