SpaceX (NASDAQ:SPCX) Stock Price Down 4.5% – Here’s What Happened

SpaceX (NASDAQ:SPCX) traded down 4.5% on Friday . The stock traded as low as $145.07 and last traded at $145.30. 45,774,062 shares changed hands during trading, a decline of 66% from the average session volume of 133,431,781 shares. The stock had previously closed at $152.16.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX continued to get bullish attention from Wall Street, with multiple analysts initiating coverage and some setting very high price targets, signaling confidence in long-term upside from Starlink, launch services, and AI infrastructure. SpaceX Was Just Flooded With Buy Reports Across Wall Street. Do Analysts Know Something Retail Investors Don’t?
• Positive Sentiment: Bank of America initiated coverage with a $235 price target, while Raymond James reportedly set a Street-high $800 target, reinforcing the view that bulls see SpaceX as a multiple-business platform rather than a single-space-launch company. Raymond James Sets Wall Street’s Highest Price Target on SpaceX Stock at $800. Here’s the Math Behind the 425% Upside Call.
• Positive Sentiment: SpaceX was added to the Nasdaq-100, which should drive forced buying from index funds and ETFs over time, even if the near-term price action has been choppy. SpaceX Added to Nasdaq-100 and Could Trigger $4.3B in Forced Passive Buying
• Positive Sentiment: ARK Invest/Cathie Wood reportedly bought more SpaceX shares, suggesting some major growth investors view the dip as an opportunity. Cathie Wood Buys More SpaceX, Sells AMD, BioNTech, and Other Growth Stocks, 7/9/26
• Neutral Sentiment: Backpack launched 24/7 trading for tokenized and real U.S. equities, including SpaceX, which could improve access and liquidity for international investors, but does not directly change the company’s business outlook. Elon Musk Admits He Was ‘Clearly Wrong’ About Anthropic— and Promises Not to Weaponize SpaceXAI’s Compute Access Against the Claude Maker: ‘Not My Style’
• Neutral Sentiment: SpaceX launched new AI-related products and expanded its satellite/launch narrative, but investors are still waiting for clearer evidence that these bets can justify the company’s rich valuation. SpaceX Stock Outlook Hinges on Starlink Scale and Starship Risk
• Negative Sentiment: Several articles highlighted that SpaceX has pulled back sharply from its post-IPO highs as investors worry the stock’s valuation has run ahead of fundamentals. Why SpaceX stock is down over 2% on Friday
• Negative Sentiment: Bearish commentary continues to focus on accelerating losses, major AI spending, and the possibility of substantial future share supply as lockups expire, all of which weigh on the stock. SpaceX Lost $4.28 Billion on $4.7 Billion in Revenue Last Quarter. Here’s What’s Going On.
• Negative Sentiment: China’s successful reusable rocket milestone adds competitive pressure, underscoring that SpaceX’s lead in launch tech is no longer uncontested. Watch China land a reusable rocket for the first time, a new challenge for Elon Musk’s SpaceX

Analyst Ratings Changes

SPCX has been the topic of a number of recent research reports. Seaport Research Partners raised shares of SpaceX to a “buy” rating in a research note on Monday, June 22nd. Bank of America began coverage on shares of SpaceX in a report on Tuesday. They issued a “buy” rating and a $235.00 target price on the stock. Susquehanna assumed coverage on shares of SpaceX in a research report on Tuesday, June 23rd. They set a “neutral” rating and a $170.00 target price on the stock. KGI Securities downgraded shares of SpaceX from an “outperform” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Roth Capital upgraded SpaceX to a “buy” rating in a research report on Monday, June 22nd. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $239.12.

SpaceX Stock Performance

SpaceX (NASDAQ:SPCX) last posted 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 during the quarter.

Hedge Funds Weigh In On SpaceX

Hedge funds have recently added to or reduced their stakes in the stock. Tema ETFs LLC bought a new position in SpaceX in the second quarter worth approximately $32,037,000. Teamwork Financial Advisors LLC purchased a new stake in SpaceX in the second quarter worth about $8,027,000. Dynamic Advisor Solutions LLC purchased a new stake in SpaceX in the second quarter worth about $3,383,000. Sage Capital Advisors llc bought a new position in SpaceX during the 2nd quarter worth about $3,254,000. Finally, Canvas Wealth Advisors LLC purchased a new position in SpaceX during the 2nd quarter valued at about $2,598,000.

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.