SpaceX (NASDAQ:SPCX) Trading Down 1.2% – Here’s What Happened

Shares of SpaceX (NASDAQ:SPCX) were down 1.2% during mid-day trading on Friday . The stock traded as low as $147.32 and last traded at $147.95. 48,565,585 shares traded hands during trading, a decline of 54% from the average session volume of 104,831,750 shares. The stock had previously closed at $149.74.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Investor optimism remains high ahead of a planned Labor Day weekend Falcon 9 launch from Vandenberg. A successful mission would reinforce SpaceX’s launch reliability and market leadership. SpaceX Labor Day weekend rocket launch
• Positive Sentiment: Recent earnings continue to provide a fundamental underpinning: revenue rose roughly 92% year over year to $7.8 billion, while Starlink subscriber growth, connectivity demand and expanding AI-compute revenue fueled bullish views. Some analysts believe SpaceX’s AI infrastructure could become a major long-term growth engine. SpaceX market capitalization and growth outlook
• Positive Sentiment: A reported $10 million bullish options position betting on a recovery toward $175, along with bullish analyst targets, signals continued institutional and speculative interest in SPCX. SpaceX bullish options bet
• Neutral Sentiment: Starship Test 14 is approaching, reportedly with a potential launch window in mid-September. The event could be a meaningful catalyst, but investors are also focused on the risk of delays or another unsuccessful test. SpaceX Starship Test 14
• Negative Sentiment: The Sept. 9 share unlock is the most immediate overhang. Newly eligible insider and early-investor shares could increase supply and create selling pressure after the recent rally. SpaceX share unlock
• Negative Sentiment: Valuation and capital intensity remain significant risks. SpaceX reportedly spent $18.4 billion in one quarter, including $15.8 billion on AI, while remaining GAAP-loss-making. Critics argue that much of the company’s future success is already reflected in its multitrillion-dollar valuation. SpaceX valuation and capital spending analysis

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SPCX. Sanford C. Bernstein reiterated an “outperform” rating on shares of SpaceX in a report on Monday, August 31st. Wolfe Research restated an “outperform” rating and set a $175.00 price objective on shares of SpaceX in a research note on Wednesday, August 26th. Royal Bank Of Canada downgraded SpaceX from an “outperform” rating to a “hold” rating in a research report on Friday, August 7th. Barclays upgraded shares of SpaceX from an “underweight” rating to an “overweight” rating in a report on Monday, June 22nd. Finally, Zacks Research raised shares of SpaceX to a “hold” rating in a research report on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have given a Hold rating and seven have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $221.20.

SpaceX Stock Down 1.2%

The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12. The company has a 50 day simple moving average of $136.15. The firm has a market cap of $1.93 trillion and a PE ratio of -1,643.89.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.17. The company had revenue of $7.81 billion for the quarter. SpaceX’s revenue was up 91.9% compared to the same quarter last year. On average, analysts predict that SpaceX will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of SpaceX

Several large investors have recently made changes to their positions in the company. K5 Global Advisor LLC purchased a new position in SpaceX in the 2nd quarter worth approximately $6,587,531,000. Hyperion Asset Management Ltd purchased a new stake in shares of SpaceX in the second quarter valued at approximately $201,137,000. Bond Capital Management LP acquired a new stake in shares of SpaceX in the second quarter valued at approximately $180,620,000. Value Aligned Research Advisors LLC purchased a new position in SpaceX during the second quarter worth approximately $100,760,000. Finally, Tema ETFs LLC acquired a new position in SpaceX during the second quarter worth $32,037,000.

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.