SpaceX (NASDAQ:SPCX) Trading Up 4.1% – What’s Next?

SpaceX (NASDAQ:SPCX)’s stock price traded up 4.1% during trading on Tuesday . The company traded as high as $172.40 and last traded at $170.86. 80,570,114 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 164,031,313 shares. The stock had previously closed at $164.19.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX is set to join the Nasdaq-100 on July 7, which could force an estimated $4.3 billion in index-fund buying and create near-term demand for the stock. SpaceX Achieves Escape Velocity With Nasdaq Fast-Track
• Positive Sentiment: Reports that SpaceX is discussing a partnership with Charter Communications are lifting sentiment because it could accelerate Starlink Mobile’s push into consumer wireless without requiring SpaceX to build out all the ground infrastructure itself. SpaceX Achieves Escape Velocity With Nasdaq Fast-Track
• Neutral Sentiment: SpaceX also raised $25 billion in debt, which confirms strong institutional demand but adds to leverage and keeps attention on execution risk and balance-sheet strain. SpaceX Just Raised $25 Billion in a Debt Sale. Here’s What That Means for Investors.
• Negative Sentiment: Several articles warn that SpaceX remains extremely expensive after its post-IPO run, with analysts citing stretched valuation, losses, and the risk of volatility once lock-up shares begin to expire in August. SpaceX Achieves Escape Velocity With Nasdaq Fast-Track

Wall Street Analyst Weigh In

SPCX has been the topic of several analyst reports. KGI Securities cut SpaceX from an “outperform” rating to a “hold” rating in a research note on Monday, June 22nd. Wall Street Zen upgraded SpaceX to a “sell” rating in a report on Saturday, June 20th. Cfra assumed coverage on SpaceX in a research report on Friday, June 12th. They set a “sell” rating and a $115.00 target price on the stock. TD Cowen started coverage on SpaceX in a report on Monday, June 22nd. They set a “buy” rating on the stock. Finally, Seaport Research Partners upgraded SpaceX to a “buy” rating in a research report on Monday, June 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $212.67.

SpaceX Stock Performance

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.27) earnings per share for the quarter. The firm had revenue of $4.69 billion for the quarter.

Insider Buying and Selling

In other SpaceX news, CEO Elon Musk sold 11,390 shares of SpaceX stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $105.32, for a total transaction of $1,199,594.80. Following the completion of the sale, the chief executive officer directly owned 526,165,900 shares of the company’s stock, valued at $55,415,792,588. The trade was a 0.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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.