SpaceX (NASDAQ:SPCX) Shares Down 1.8% – Here’s Why

SpaceX (NASDAQ:SPCX) was down 1.8% during trading on Thursday. The stock traded as low as $146.03 and last traded at $148.07. Approximately 68,598,065 shares were traded during mid-day trading, a decline of 33% from the average session volume of 102,478,352 shares. The stock had previously closed at $150.86.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Starship reached orbit for the first time. The milestone included deployment of 26 next-generation Starlink satellites, strengthening the long-term case for higher launch capacity, faster Starlink expansion and lower costs if SpaceX can achieve rapid reuse. However, engine problems shortened the mission. Starship reached orbit but experienced engine problems
• Positive Sentiment: A busy launch schedule is supporting investor enthusiasm. SpaceX successfully launched NASA’s Crew-13 mission to the International Space Station and is conducting multiple missions close together, highlighting operational reliability and launch cadence. NASA and SpaceX launch Crew-13
• Positive Sentiment: Space-based AI infrastructure is becoming a new growth narrative. SpaceX launched Google’s first orbital AI-computing prototype, while reports point to plans for data centers in space. The initiative could create a new revenue stream beyond launches and Starlink, although Google reportedly believes thousands of Starship launches would be required for large-scale deployment. SpaceX launches Google AI chips into orbit
• Positive Sentiment: Defense and commercial demand are adding support. Elon Musk was tapped to help lead a Pentagon project focused on future military weapons, and Filtronic announced a record $68.1 million follow-on SpaceX order for communications equipment. Analysts including Needham, UBS and TD Cowen have maintained favorable views, with targets above the current trading level. Filtronic lands a record SpaceX order
• Neutral Sentiment: Coverage continues to compare SpaceX with prospective AI IPO Anthropic and debate whether SpaceX’s roughly $2 trillion valuation can be justified by Starlink, launch services and AI-compute growth.
• Negative Sentiment: Execution and valuation risks remain significant. Starship’s engine issues show that orbital success is not yet equivalent to reliable, reusable service. The stock’s elevated valuation leaves limited room for delays, while increased short interest and the company’s ongoing losses could amplify volatility. Insurer discusses the importance of Starship reuse

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SPCX shares. Arete Research set a $450.00 target price on shares of SpaceX in a report on Tuesday, August 11th. CLSA assumed coverage on shares of SpaceX in a research note on Monday. They set an “outperform” rating and a $250.00 price objective for the company. Argus raised shares of SpaceX from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Friday, August 7th. The Goldman Sachs Group restated a “buy” rating on shares of SpaceX in a report on Tuesday. Finally, Pivotal Research assumed coverage on SpaceX in a report on Tuesday, September 8th. They issued a “buy” rating and a $220.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, seven have assigned a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $218.68.

SpaceX Price Performance

The business has a 50 day simple moving average of $138.15. The firm has a market capitalization of $1.95 trillion and a P/E ratio of -1,645.22. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29.

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.17. The company had revenue of $7.81 billion for the quarter. SpaceX’s revenue was up 91.9% on a year-over-year basis. Research analysts anticipate that SpaceX will post -0.15 EPS for the current fiscal year.

Insider Transactions at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of SpaceX stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the completion of the sale, the chief operating officer directly owned 2,472,035 shares of the company’s stock, 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 is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Syntax Research Inc. acquired a new position in SpaceX in the 2nd quarter valued at about $26,000. Atwood & Palmer Inc. purchased a new position in shares of SpaceX in the 2nd quarter valued at approximately $29,000. PayPay Securities Corp purchased a new position in shares of SpaceX in the 2nd quarter valued at approximately $30,000. Marquette Asset Management LLC acquired a new position in shares of SpaceX in the second quarter valued at approximately $32,000. Finally, Community Bank N.A. purchased a new stake in shares of SpaceX during the second quarter worth approximately $38,000.

About SpaceX

Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.