SpaceX (NASDAQ:SPCX) Stock Price Down 2% – Here’s What Happened

SpaceX (NASDAQ:SPCX)’s stock price fell 2% on Tuesday . The stock traded as low as $139.41 and last traded at $143.34. 83,580,791 shares were traded during mid-day trading, a decline of 27% from the average session volume of 115,023,477 shares. The stock had previously closed at $146.23.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX’s AI strategy could benefit from the rapid expansion of Anthropic, whose annualized revenue reportedly reached $65 billion. Demand for AI computing, cloud capacity and related infrastructure may support SpaceX’s xAI and data-center ambitions. Anthropic revenue and SpaceX
• Positive Sentiment: Starlink continues to expand, with another 24 satellites launched and the network approaching 11,000 spacecraft. SpaceX also signed a 2027 launch agreement with Vietnam’s VinSpace, while a Louisiana legal dispute was dropped, potentially clearing the way for a new launch site. Starlink milestone
• Positive Sentiment: Institutional interest remains notable: Harvard, hedge funds and Nvidia have disclosed substantial SpaceX positions. Several Vanguard ETFs reportedly increased their exposure, which could provide demand as additional shares become available. Vanguard ETFs buy SpaceX
• Neutral Sentiment: Second-quarter revenue rose 91.9% year over year to $7.81 billion, and earnings exceeded estimates. However, the company remains unprofitable and is prioritizing aggressive investment in AI, satellites and launch infrastructure.
• Negative Sentiment: Up to 319 million additional shares, valued at roughly $47 billion at recent prices, became eligible for trading on August 20. The potential insider selling represents a significant near-term supply shock after an earlier 912 million-share unlock. SpaceX share unlock
• Negative Sentiment: China’s LandSpace successfully landed a reusable rocket booster, highlighting growing international competition in a key SpaceX market. Technical indicators have also shifted to a “sell” signal.
• Negative Sentiment: Analysts and commentators warn that SpaceX’s valuation assumes exceptional execution, while capital spending substantially exceeds revenue and AI acquisitions—including the reported $60 billion Cursor deal—could increase cash burn and execution risk. SpaceX lock-up and technical indicators

Analyst Ratings Changes

Several equities analysts recently commented on SPCX shares. Needham & Company LLC reissued a “buy” rating and issued a $250.00 price objective on shares of SpaceX in a research note on Wednesday, August 5th. JPMorgan Chase & Co. began coverage on SpaceX in a research note on Tuesday, July 7th. They issued an “overweight” rating and a $225.00 price objective for the company. Piper Sandler dropped their price target on shares of SpaceX from $156.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. UBS Group reaffirmed a “buy” rating and set a $75.00 target price (down from $210.00) on shares of SpaceX in a report on Monday. Finally, Susquehanna downgraded shares of SpaceX from a “neutral” rating to an “underperform” rating in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, SpaceX presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.34.

SpaceX Stock Down 2.6%

The business’s 50 day moving average is $142.98. 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 stock has a market capitalization of $1.83 trillion and a PE ratio of -1,551.67.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings data 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 business had revenue of $7.81 billion for the quarter. The firm’s revenue was up 91.9% compared to the same quarter last year. Equities analysts expect that SpaceX will post -0.15 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Atwood & Palmer Inc. bought a new position in SpaceX during the 2nd quarter valued at $29,000. Marquette Asset Management LLC purchased a new stake in SpaceX in the 2nd quarter valued at about $32,000. Burkett Financial Services LLC purchased a new position in shares of SpaceX in the 2nd quarter worth approximately $70,000. Contravisory Investment Management Inc. purchased a new stake in shares of SpaceX during the second quarter valued at approximately $73,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in SpaceX in the second quarter worth $89,000.

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.