Proficio Capital Partners LLC Makes New $8.12 Million Investment in SpaceX $SPCX

Proficio Capital Partners LLC purchased a new stake in SpaceX (NASDAQ:SPCX) during the second quarter, HoldingsChannel reports. The institutional investor purchased 47,525 shares of the company’s stock, valued at approximately $8,120,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Atwood & Palmer Inc. bought a new position in shares of SpaceX during the second quarter worth about $29,000. Marquette Asset Management LLC acquired a new position in SpaceX during the 2nd quarter worth approximately $32,000. Burkett Financial Services LLC acquired a new position in SpaceX during the 2nd quarter worth approximately $70,000. Contravisory Investment Management Inc. bought a new position in shares of SpaceX during the 2nd quarter worth approximately $73,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SpaceX in the second quarter valued at approximately $89,000.

SpaceX Trading Up 1.6%

SpaceX stock opened at $143.73 on Tuesday. The firm has a market capitalization of $1.88 trillion and a P/E ratio of -1,597.00. The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. The company has a 50 day moving average price of $136.88.

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

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Analysts remain optimistic about SpaceX’s long-term revenue opportunity. Bernstein reiterated an Outperform view, while other research notes highlighted Elon Musk’s projection that revenue could reach $3.5 trillion by 2033. Bernstein SpaceX outlook
• Positive Sentiment: SpaceX’s latest quarterly results provided a fundamental tailwind: revenue rose 91.9% year over year to $7.81 billion, and the company’s loss per share was narrower than analysts expected. Starlink is increasingly viewed as the company’s primary financial engine. Cathie Wood’s Ark bought SpaceX stock
• Positive Sentiment: A successful Falcon Heavy launch of NASA’s Nancy Grace Roman Space Telescope reinforced SpaceX’s launch reliability and commercial relationship with NASA. The company also scheduled two additional California launches this week. SpaceX launches Roman telescope
• Positive Sentiment: SpaceX is expanding beyond rockets and satellite internet by building a Texas facility to manufacture gas-turbine components. Management says the effort could reduce generator delays and help supply power for its planned AI infrastructure. A planned partnership with Nvidia for AI-powered satellites also supports the company’s broader growth narrative. SpaceX turbine-parts manufacturing
• Neutral Sentiment: New space-focused ETFs continue buying SpaceX, potentially supporting demand for the shares and increasing investor exposure to commercial launches, satellites and space infrastructure. Space ETFs buying SpaceX
• Neutral Sentiment: The September 9 share unlock will increase SpaceX’s public float to approximately 17.7%. It could improve liquidity, but additional shares becoming available may also create short-term selling pressure. SpaceX share unlock
• Negative Sentiment: NASA and SpaceX delayed the next astronaut launch to the International Space Station after identifying a leak on the Dragon spacecraft. Although a delay is not necessarily a mission failure, it creates near-term schedule and execution concerns. Dragon spacecraft launch delay
• Negative Sentiment: Investors remain concerned that SpaceX’s valuation already discounts aggressive growth. Bernstein estimates a standalone Starlink Mobile network could require roughly $50 billion to $130 billion of capital, while technical and fundamental analyses warn of another possible bearish phase. OpenAI’s decision to end Cursor’s access to its AI models adds uncertainty to SpaceX’s AI strategy. Starlink Mobile capital requirements

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group restated a “buy” rating and set a $75.00 target price (down from $210.00) on shares of SpaceX in a report on Monday, August 17th. Needham & Company LLC reissued a “buy” rating and set a $250.00 price target on shares of SpaceX in a research report on Wednesday, August 5th. Bank of America began coverage on shares of SpaceX in a research note on Tuesday, July 7th. They set a “buy” rating and a $235.00 price objective for the company. Oppenheimer raised their price objective on SpaceX from $190.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Finally, Barclays raised SpaceX from an “underweight” rating to an “overweight” rating in a research report on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have issued a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, SpaceX currently has an average rating of “Moderate Buy” and an average target price of $220.20.

SpaceX Company Profile

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.