Fund Resources Investment Holding Group Co Ltd grew its holdings in SpaceX (NASDAQ:SPCX – Free Report) by 100.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,000 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. SpaceX accounts for about 1.7% of Fund Resources Investment Holding Group Co Ltd’s holdings, making the stock its 5th biggest holding. Fund Resources Investment Holding Group Co Ltd’s holdings in SpaceX were worth $6,034,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. SC US Ttgp LTD. acquired a new position in SpaceX during the 2nd quarter worth $20,933,621,000. Darsana Capital Partners LP purchased a new position in SpaceX in the second quarter worth approximately $17,335,783,000. K5 Global Advisor LLC acquired a new position in SpaceX during the 2nd quarter worth approximately $6,587,531,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in SpaceX during the 3rd quarter worth approximately $4,224,143,000. Finally, Thrive Capital Management LLC purchased a new stake in shares of SpaceX in the 2nd quarter valued at approximately $3,231,681,000.
Insider Activity
In other news, COO Gwynne Shotwell sold 342,170 shares of SpaceX 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 transaction, the chief operating officer directly 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 legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
SpaceX Trading Up 8.6%
Shares of NASDAQ SPCX traded up $10.65 during trading hours on Friday, reaching $134.27. The stock had a trading volume of 114,740,906 shares, compared to its average volume of 102,187,288. The business’s 50-day simple moving average is $149.18. The stock has a market capitalization of $1.82 trillion and a price-to-earnings ratio of 516.42. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.00 and a current ratio of 3.08. SpaceX has a fifty-two week low of $104.83 and a fifty-two week high of $225.64.
SpaceX (NASDAQ:SPCX – Get Free Report) last released its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.10 by $0.25. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The company had revenue of $14.57 billion for the quarter. During the same period last year, the firm earned ($0.36) EPS. The company’s quarterly revenue was up 161.4% on a year-over-year basis. On average, equities analysts predict that SpaceX will post 0.19 EPS for the current year.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on SPCX. Arete Research set a $450.00 price objective on shares of SpaceX in a research report on Tuesday, August 11th. Bank of America lifted their price target on SpaceX from $235.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Wall Street Zen raised SpaceX from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Piper Sandler reissued a “neutral” rating on shares of SpaceX in a research report on Wednesday, October 21st. Finally, Wolfe Research restated an “outperform” rating and set a $175.00 target price on shares of SpaceX in a research note on Wednesday, August 26th. Four 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 issued a Sell rating to the stock. According to MarketBeat, SpaceX has a consensus rating of “Moderate Buy” and a consensus target price of $243.60.
Read Our Latest Analysis on SPCX
More SpaceX News
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.
Further Reading
- Five stocks we like better than SpaceX
- 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?
- Airbnb Defied a Brutal Tech Sell-Off, But Can Its Post-Earnings Rally Last?
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.
