SpaceX $SPCX Shares Newly Acquired by Canal Insurance CO

Canal Insurance CO acquired a new stake in shares of SpaceX (NASDAQ:SPCX) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 20,000 shares of the company’s stock, valued at approximately $3,017,000.

Several other hedge funds have also made changes to their positions in the stock. 55 North Private Wealth LLC acquired a new stake in SpaceX during the third quarter worth about $770,000. Hyperion Asset Management Ltd increased its stake in SpaceX by 52.8% during the third quarter. Hyperion Asset Management Ltd now owns 1,798,919 shares of the company’s stock valued at $271,385,000 after acquiring an additional 621,716 shares during the period. Genesee Capital Advisors LLC acquired a new position in SpaceX in the 3rd quarter valued at approximately $239,000. Lazari Capital Management Inc. raised its holdings in SpaceX by 148.3% in the 3rd quarter. Lazari Capital Management Inc. now owns 8,511 shares of the company’s stock valued at $1,284,000 after acquiring an additional 5,083 shares in the last quarter. Finally, ICG Advisors LLC bought a new stake in shares of SpaceX in the 3rd quarter worth approximately $6,262,000.

Wall Street Analysts Forecast Growth

SPCX has been the topic of several recent research reports. Weiss Ratings initiated coverage on SpaceX in a report on Tuesday, September 1st. They set a “sell (d)” rating on the stock. Wells Fargo & Company lowered their price objective on SpaceX from $215.00 to $212.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 8th. Argus upgraded SpaceX from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Friday, August 7th. Moffett Nathanson raised their target price on SpaceX from $131.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday, September 14th. Finally, Pivotal Research reiterated a “buy” rating and set a $230.00 price target on shares of SpaceX in a research note on Monday, October 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $221.44.

SpaceX Price Performance

Shares of SpaceX stock traded down $0.29 during midday trading on Tuesday, hitting $147.67. 49,147,722 shares of the company were exchanged, compared to its average volume of 100,185,781. The firm has a 50 day simple moving average of $148.63. 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 company has a market capitalization of $1.95 trillion and a price-to-earnings ratio of -1,639.78. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17. The company had revenue of $7.81 billion during the quarter. The company’s revenue was up 91.9% compared to the same quarter last year. Equities research analysts expect that SpaceX will post 0.07 earnings per share for the current year.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Analysts expect approximately $12.9 billion in third-quarter revenue and $0.14 in earnings per share. Investors are focused on whether Starlink growth, satellite services and AI-computing revenue can support SpaceX’s expansion. SpaceX Q3 Earnings Preview
• Positive Sentiment: Morgan Stanley’s Adam Jonas said a successful Starship mid-air catch could unlock additional valuation upside, although he also flagged potential debt issuance. Starship progress, orbital refueling and lunar-lander development are key investor questions. Starship Catch Could Unlock Valuation Upside
• Positive Sentiment: SpaceX successfully launched the Bandwagon-5 rideshare mission carrying dozens of payloads, reinforcing its launch cadence and commercial space position. SpaceX Bandwagon-5 Launch
• Positive Sentiment: Longer-term optimism remains strong: Bernstein reiterated a Buy rating with a $248 price target, while analysts continue to cite Starlink’s expansion and AI data-center demand as potential growth drivers. Bernstein Sets SpaceX Price Target
• Neutral Sentiment: Options markets imply roughly a 6% to 8% post-earnings move, signaling unusually high uncertainty rather than a clear directional view. Options Traders’ SpaceX Earnings Expectations
• Neutral Sentiment: Speculation about a Tesla–SpaceX merger continues, but no transaction has been announced. Musk’s pledge to give a SpaceX share to every U.S. child also lacks eligibility, funding and distribution details, limiting its immediate financial significance. SpaceX and Tesla Earnings
• Negative Sentiment: Investors worry that AI-computing revenue may come with heavy capital expenditures, financing needs and weaker near-term profitability. Higher 2027 spending guidance or additional borrowing could pressure SPCX. SpaceX Earnings and Financing Needs
• Negative Sentiment: More than one billion shares are expected to become eligible for sale after the quarterly update, creating an overhang and adding to near-term volatility. SpaceX Lockup Expiration

Insider Activity

In other news, COO Gwynne Shotwell sold 342,170 shares of the business’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total value of $52,547,046.90. Following the sale, the chief operating officer owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. The trade was a 12.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Company Profile

Space Exploration Technologies Corp., commonly known as SpaceX, is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles and spacecraft designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s principal products and services include the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starlink satellite communications network. Falcon rockets are used to launch satellites, cargo and crew, while Dragon spacecraft support transportation to and from low Earth orbit.