SpaceX (NASDAQ:SPCX) Stock Falls 2.3% – What’s Next?

SpaceX (NASDAQ:SPCX)’s stock price was down 2.3% during mid-day trading on Thursday. The company traded as low as $140.66 and last traded at $148.62. Approximately 97,693,649 shares traded hands during mid-day trading, a decline of 3% from the average session volume of 101,205,969 shares. The stock had previously closed at $152.16.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Starlink continues to expand commercially. United Airlines now offers Starlink Wi-Fi on more than 635 aircraft—nearly half its fleet—while American Airlines plans installations on more than 1,030 aircraft. The rollout supports Starlink’s potential to become a larger recurring-revenue business. SpaceX expands Starlink with United Airlines
• Positive Sentiment: Google reportedly agreed to rent SpaceX computing capacity for approximately $920 million per month under a 33-month contract worth up to $30 billion. Investors view the deal as potential validation of SpaceX’s AI and orbital data-center strategy, although the full value is not guaranteed. Google SpaceX computing contract
• Positive Sentiment: Analysts remain bullish, with Morgan Stanley maintaining a $300 target and Raymond James reiterating a Strong Buy rating with an $800 target. These forecasts reflect optimism about Starlink, launch services, AI infrastructure, and future mobile connectivity. Morgan Stanley SpaceX price target
• Neutral Sentiment: Reports continue to speculate that SpaceX and Tesla could announce a merger before December. Barclays raised the possibility, but neither company has confirmed negotiations, and prediction markets reportedly assign low odds to an imminent deal. Tesla SpaceX merger speculation
• Negative Sentiment: Ukraine says new speed restrictions on military Starlink terminals disrupted drone operations. Elon Musk blamed the U.S. government and President Trump, while reports say service was later partially restored. The episode raises reputational, regulatory, customer-retention, and government-contract risks for SpaceX’s satellite business. Musk comments on Ukraine Starshield restrictions
• Negative Sentiment: Investors are also concerned about valuation and execution. SpaceX is pursuing expensive wireless, AI, chip-manufacturing, and space-infrastructure projects, reportedly seeking as much as $40 billion in new debt. An upcoming insider share unlock of up to 1.3 billion shares could add further selling pressure. SpaceX capital requirements

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Argus upgraded shares of SpaceX from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Friday, August 7th. Oppenheimer lifted their target price on shares of SpaceX from $250.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, September 2nd. Citigroup lowered shares of SpaceX from a “buy” rating to a “sell” rating in a research note on Friday, August 7th. Piper Sandler lowered their price objective on SpaceX from $156.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Finally, DZ Bank initiated coverage on SpaceX in a research report on Friday, August 21st. They set a “sell” rating and a $100.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $220.06.

SpaceX Trading Down 2.3%

The company has a 50 day simple moving average of $147.51. The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1.96 trillion and a price-to-earnings ratio of -1,651.33.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.17. The company had revenue of $7.81 billion during the quarter. The firm’s revenue was up 91.9% on a year-over-year basis. On average, sell-side analysts forecast that SpaceX will post 0.07 earnings per share for the current fiscal year.

Insider Transactions at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of SpaceX stock in a transaction that occurred on 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 sale, the chief operating officer directly owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. This trade represents a 12.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Investors Weigh In On SpaceX

Institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in shares of SpaceX by 656.3% in the third quarter. Assenagon Asset Management S.A. now owns 110,745 shares of the company’s stock worth $16,707,000 after acquiring an additional 96,102 shares during the last quarter. Maryland Capital Advisors Inc. purchased a new stake in shares of SpaceX in the third quarter valued at $30,000. WealthPLAN Partners LLC purchased a new stake in shares of SpaceX in the third quarter valued at $920,000. PFG Private Wealth Management LLC boosted its stake in shares of SpaceX by 32.2% during the third quarter. PFG Private Wealth Management LLC now owns 2,602 shares of the company’s stock valued at $392,000 after acquiring an additional 634 shares during the last quarter. Finally, Summit Financial Wealth Advisors LLC boosted its stake in shares of SpaceX by 132.6% during the third quarter. Summit Financial Wealth Advisors LLC now owns 6,864 shares of the company’s stock valued at $1,036,000 after acquiring an additional 3,913 shares during the last quarter.

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.