Argus Initiates Coverage on SpaceX (NASDAQ:SPCX)

Equities researchers at Argus started coverage on shares of SpaceX (NASDAQ:SPCX) in a research report issued on Friday,Benzinga reports. The brokerage set a “hold” rating on the stock.

Several other research analysts have also weighed in on SPCX. TD Cowen assumed coverage on SpaceX in a report on Monday. They set a “buy” rating on the stock. Wolfe Research assumed coverage on SpaceX in a research report on Friday, June 12th. They set an “outperform” rating and a $175.00 price target on the stock. New Street Research upgraded SpaceX to a “strong-buy” rating in a research report on Thursday, June 11th. KeyCorp started coverage on SpaceX in a research note on Monday. They set a “sector weight” rating for the company. Finally, Seaport Research Partners raised shares of SpaceX to a “buy” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $212.67.

SpaceX Stock Performance

NASDAQ:SPCX opened at $149.35 on Friday. SpaceX has a 1-year low of $147.11 and a 1-year high of $225.64.

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 company had revenue of $4.69 billion for the quarter.

Insider Activity at SpaceX

In other news, CEO Elon Musk sold 11,390 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $105.32, for a total value of $1,199,594.80. Following the completion of the transaction, the chief executive officer owned 526,165,900 shares in the company, valued at $55,415,792,588. This trade represents a 0.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Friday’s Russell 1000 inclusion could spark a large wave of passive buying, with some estimates pointing to roughly $3 billion in index-related demand. That may help support the stock and add liquidity. SpaceX (SPCX) Stock Plummets 24% Since IPO — Will Russell 1000 Entry Provide Relief?
• Positive Sentiment: Some analysts remain bullish on SpaceX’s long-term potential, citing the company’s launch business, Starlink, and AI-related compute deals as major growth drivers. One recent valuation piece argued these businesses could still justify a very large enterprise value over time. SpaceX Has Real Value — But These 3 Stocks Have Better Odds Right Now
• Neutral Sentiment: SpaceX is generating enormous attention and trading volume, and its planned index additions and possible future inclusion in larger benchmarks could keep the stock volatile rather than giving it a clear directional catalyst. Russell rebalance could add to SpaceX volatility
• Neutral Sentiment: SpaceX also continues to generate headlines around Starlink expansion, including reports that it may launch a U.S. consumer mobile service, which could broaden the long-term investment case but does not immediately resolve valuation concerns. Musk’s SpaceX targets US consumers with Starlink mobile service push, FT reports
• Negative Sentiment: Bearish coverage is piling up, with multiple reports saying the stock is falling because its valuation looks stretched, profitability is still uncertain, and investors are worried the IPO hype has outrun fundamentals. SpaceX Stock Retreats After Logging Lowest Post-IPO Close
• Negative Sentiment: Short sellers and prediction-market bettors are becoming more skeptical, with growing bets that SpaceX may struggle to hold above its IPO price as the selloff deepens. SpaceX short selling bets increase after post-debut share selloff
• Negative Sentiment: Recent articles also highlighted concerns that SpaceX may need more capital soon, and that its large debt offering and rapid share-price decline are raising bubble fears on Wall Street. SpaceX Bond Deal Signals Market ‘Bubble,’ Allianz Exec Warns

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.