SpaceX $SPCX Stock: Wedbush Securities Inc. Boosts Position

Wedbush Securities Inc. lifted its position in SpaceX (NASDAQ:SPCX) by 173.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 81,557 shares of the company’s stock after buying an additional 51,744 shares during the quarter. Wedbush Securities Inc.’s holdings in SpaceX were worth $12,304,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Syntax Research Inc. purchased a new position in SpaceX during the 2nd quarter valued at about $26,000. Atwood & Palmer Inc. purchased a new stake in SpaceX during the second quarter worth about $29,000. PayPay Securities Corp purchased a new stake in SpaceX during the second quarter worth about $30,000. Hickory Point Bank & Trust purchased a new stake in SpaceX during the third quarter worth about $30,000. Finally, Maryland Capital Advisors Inc. acquired a new stake in shares of SpaceX during the third quarter worth about $30,000.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Stifel Nicolaus assumed coverage on shares of SpaceX in a research note on Tuesday, July 7th. They issued a “buy” rating and a $190.00 price objective for the company. Weiss Ratings started coverage on shares of SpaceX in a research note on Tuesday, September 1st. They set a “sell (d)” rating on the stock. Daiwa Securities Group began coverage on shares of SpaceX in a report on Thursday, July 2nd. They set a “neutral” rating and a $175.00 target price on the stock. Evercore reiterated an “outperform” rating and set a $275.00 target price on shares of SpaceX in a report on Friday, October 16th. Finally, Erste Group Bank initiated coverage on shares of SpaceX in a research report on Thursday, October 8th. They issued a “hold” rating for the company. Four research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, SpaceX has an average rating of “Moderate Buy” and an average price target of $244.19.

SpaceX Stock Performance

SPCX stock traded up $2.74 during mid-day trading on Friday, reaching $147.49. The company had a trading volume of 110,309,928 shares, compared to its average volume of 98,790,120. The company has a fifty day moving average of $149.40. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. The company has a market cap of $1.94 trillion and a P/E ratio of -1,638.78. SpaceX has a fifty-two week low of $104.83 and a fifty-two week high of $225.64.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.25. The company had revenue of $14.57 billion for the quarter. During the same period in the previous year, the company posted ($0.36) earnings per share. The business’s quarterly revenue was up 161.4% on a year-over-year basis. As a group, analysts predict that SpaceX will post 0.13 earnings per share for the current year.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong earnings and AI growth supported the rebound. SpaceX reported third-quarter revenue of $14.58 billion, up 161% year over year, and earnings per share of $0.35 versus analysts’ $0.10 estimate. Its AI segment reportedly generated $431 million in net income, helping offset losses in the launch business. Fantastic News for SpaceX Stock Investors
• Positive Sentiment: Analyst sentiment improved sharply. PhilipCapital upgraded SpaceX from “Sell” to “Buy” and raised its price target from $75 to $250. Bank of America also lifted its target to $275, citing stronger growth prospects and Starship milestones. SpaceX Just Scored a Double Upgrade
• Positive Sentiment: Wireless ambitions broaden the growth story. Reports that SpaceX is seeking access to at least 80,000 U.S. cell sites suggest Starlink could evolve into a nationwide wireless carrier, potentially creating a major new revenue stream. The news pressured telecom stocks while benefiting tower owners. SpaceX Seeks Access to 80,000 US Cell Sites
• Neutral Sentiment: A potential Tesla (NASDAQ: TSLA) merger remains speculative. Elon Musk called the combination a “good idea,” but valuation, conflicts of interest, shareholder approval, antitrust review and Tesla’s China operations could delay or prevent a transaction. SpaceX-Tesla Merger Chatter
• Negative Sentiment: Funding and cash-burn concerns remain significant. SpaceX reportedly burned more than $9.9 billion in free cash flow during the quarter and is raising approximately $40 billion of debt at relatively high interest rates to finance AI and other expansion plans. SpaceX $40 Billion Debt Deal
• Negative Sentiment: Execution and reputational risks could limit upside. The launch division was unprofitable because of heavy research spending, while reports of continuing Starlink restrictions in Ukraine could threaten government relationships and future contracts. In addition, upcoming insider share unlocks may increase supply. Ukraine Says Starlink Restrictions Remain

Insider Transactions at SpaceX

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the stock in a transaction that occurred 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 directly owned 2,472,035 shares of the company’s stock, valued at approximately $379,630,414.95. This represents a 12.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX 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.