SpaceX (NASDAQ:SPCX) Shares Down 2.2% – Time to Sell?

SpaceX (NASDAQ:SPCX) shares were down 2.2% during mid-day trading on Monday. The stock traded as low as $145.36 and last traded at $145.47. Approximately 81,549,723 shares changed hands during trading, a decline of 21% from the average daily volume of 103,514,039 shares. The stock had previously closed at $148.68.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Starship reached orbit for the first time on Flight 14 and deployed 26 next-generation Starlink V3 satellites. The achievement supports SpaceX’s plans to expand Starlink capacity, generate launch-related revenue and eventually make Starship reusable at high frequency. SpaceX’s Starship reaches orbit for first time despite engine shutdown
• Positive Sentiment: The successful deployment strengthens the investment case for Starlink, whose larger-capacity satellites could support additional subscribers and data demand. Some investors view Starship as a potential catalyst for turning Starlink into a larger cash-generation platform. SpaceX Dip Buyer Bets Starship Turns Starlink Into a Bigger Cash Cow
• Positive Sentiment: Wall Street support remains favorable. Sanford C. Bernstein reaffirmed a Buy rating, while CLSA initiated coverage with an Outperform rating and a $250 price target. Evercore ISI also highlighted the potential for a significant 2027 sales ramp. SpaceX stock keeps Buy rating at Sanford C. Bernstein
• Neutral Sentiment: One of Starship’s three Raptor engines shut down after reaching space. The vehicle still achieved orbit and completed its satellite deployment, but the early end to the mission leaves additional testing and reliability work before routine commercial operations. SpaceX Gets Starship Into Orbit for First Time, Despite Engine Issue
• Negative Sentiment: The stock’s muted-to-negative reaction suggests the orbital success was partly priced in following a sharp recent recovery. Commentary continues to warn that SpaceX’s roughly $2 trillion valuation and ambitious AI, Starlink and sales projections leave little room for execution misses. SpaceX valuation leaves small margin for error
• Negative Sentiment: President and COO Gwynne Shotwell reportedly filed to sell approximately $52 million of SPCX stock. While such sales may be planned for personal liquidity or diversification, they can add near-term supply and investor caution. SpaceX COO sells $52 million in stock

Wall Street Analyst Weigh In

Several research firms recently weighed in on SPCX. Sanford C. Bernstein reiterated a “buy” rating on shares of SpaceX in a report on Monday. CLSA started coverage on shares of SpaceX in a research report on Monday. They issued an “outperform” rating and a $250.00 target price for the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $205.00 target price on shares of SpaceX in a research note on Tuesday, August 4th. Clear Str upgraded shares of SpaceX to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of SpaceX in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, seven have given a Hold rating and seven have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, SpaceX presently has a consensus rating of “Moderate Buy” and an average price target of $219.24.

SpaceX Stock Down 2.2%

The business has a fifty day simple moving average of $136.41. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12. The stock has a market cap of $1.92 trillion and a price-to-earnings ratio of -1,615.89.

SpaceX (NASDAQ:SPCX) last announced its earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17. The business had revenue of $7.81 billion for the quarter. The company’s revenue was up 91.9% on a year-over-year basis. On average, sell-side analysts anticipate that SpaceX will post -0.15 EPS for the current fiscal year.

Insider Transactions at SpaceX

In related news, COO Gwynne Shotwell sold 342,170 shares of SpaceX stock in a transaction dated 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 transaction, the chief operating officer directly owned 2,472,035 shares of the company’s stock, valued at $379,630,414.95. This trade represents a 12.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hedge Funds Weigh In On SpaceX

A number of institutional investors and hedge funds have recently made changes to their positions in SPCX. Wedbush Securities Inc. purchased a new stake in shares of SpaceX in the 2nd quarter worth approximately $5,094,000. Hyperion Asset Management Ltd purchased a new position in SpaceX during the second quarter valued at $201,137,000. K5 Global Advisor LLC bought a new stake in SpaceX in the second quarter worth $6,587,531,000. Rik Saylor Financial Inc. bought a new stake in SpaceX in the second quarter worth $1,670,000. Finally, Turner Financial Group Inc. bought a new position in shares of SpaceX during the second quarter valued at $1,228,000.

SpaceX Company Profile

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.