Tennessee Valley Asset Management Partners grew its position in SpaceX (NASDAQ:SPCX – Free Report) by 205.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,964 shares of the company’s stock after buying an additional 4,011 shares during the quarter. Tennessee Valley Asset Management Partners’ holdings in SpaceX were worth $900,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in SPCX. SC US Ttgp LTD. bought a new stake in shares of SpaceX in the second quarter valued at about $20,933,621,000. Darsana Capital Partners LP purchased a new stake in SpaceX in the second quarter worth about $17,335,783,000. K5 Global Advisor LLC bought a new position in SpaceX during the 2nd quarter worth about $6,587,531,000. Mirae Asset Global Investments Co. Ltd. bought a new position in SpaceX during the 3rd quarter worth about $4,224,143,000. Finally, Thrive Capital Management LLC purchased a new position in SpaceX during the 2nd quarter valued at about $3,231,681,000.
Analyst Ratings Changes
SPCX has been the subject of several recent research reports. UBS Group restated an “overweight” rating and issued a $300.00 price target on shares of SpaceX in a report on Wednesday, October 21st. Wall Street Zen upgraded shares of SpaceX from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Citigroup increased their price objective on shares of SpaceX from $200.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, October 21st. Erste Group Bank initiated coverage on shares of SpaceX in a report on Thursday, October 8th. They set a “hold” rating on the stock. Finally, Cantor Fitzgerald boosted their price objective on shares of SpaceX from $246.00 to $345.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 20th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.60.
Check Out Our Latest Report on SpaceX
Insider Activity
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 value of $52,547,046.90. Following the transaction, the chief operating officer owned 2,472,035 shares of the company’s stock, valued at $379,630,414.95. The trade was a 12.16% decrease in their position. The sale was disclosed in a filing 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 Stock Performance
SPCX traded up $10.65 on Friday, hitting $134.27. The company had a trading volume of 114,740,906 shares, compared to its average volume of 102,187,288. The company has a fifty day simple moving average of $149.18. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00. The stock has a market cap of $1.82 trillion and a PE ratio of 516.42.
SpaceX (NASDAQ:SPCX – Get Free Report) last announced its earnings results on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.25. The business had revenue of $14.57 billion during the quarter. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The business’s revenue for the quarter was up 161.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.36) earnings per share. Analysts forecast that SpaceX will post 0.19 EPS for the current fiscal year.
SpaceX News Roundup
Here are the key news stories impacting SpaceX this week:
- Positive Sentiment: Musk said SpaceX could exceed $500 billion in annual recurring revenue by December 2027, a forecast well above Wall Street expectations. He also pointed to U.S. government contracts as a growing revenue source, helping lift growth sentiment. Article: Musk Says SpaceX Will Hit a Revenue Number That Not One of Its 37 Analysts Believes
- Positive Sentiment: SpaceX’s partnership with Qualcomm to support Starlink Mobile’s planned 5G network offers a potential new telecom growth avenue, with deployment expected to begin in 2027. Article: Can SPCX’s Tie-Up With Qualcomm Strengthen Its Position in the 5G Market?
- Neutral Sentiment: Director Donald Harrison resigned from SpaceX’s board effective November 4. The announcement did not provide a reason, so the immediate business impact is unclear. Article: SpaceX Director Donald Harrison Resigns from Board
- Negative Sentiment: Democratic gains in Congress and Texas raised concerns about scrutiny, permitting and data-center expansion—important to SpaceX’s AI ambitions—and helped drive the recent selloff. Friday’s rebound recouped some of those losses, but the policy uncertainty remains. Article: Why SpaceX Stock Is Up Today
- Negative Sentiment: SpaceX’s wireless ambitions may require substantial spending and face tough competition. Deutsche Telekom’s CEO said building a rival mobile network would require a costly terrestrial footprint, highlighting execution and financing risks alongside the growth opportunity. Article: Deutsche Telekom CEO Says SpaceX Has a Massive Mountain to Climb to Compete in Mobile
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.
Read More
- Five stocks we like better than SpaceX
- Dutch Bros Gave Wall Street What It Wanted, So Why Did the Stock Crater?
- Astera Labs Just Crushed Earnings—So Why Are Analysts Cutting Price Targets?
- Sandisk Shares Are Oversold: Bargain or Value Trap?
- IonQ’s Record Revenue Includes a Big SkyWater Boost: Does That Change the Story?
Want to see what other hedge funds are holding SPCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SpaceX (NASDAQ:SPCX – Free Report).
Receive News & Ratings for SpaceX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SpaceX and related companies with MarketBeat.com's FREE daily email newsletter.
