SpaceX $SPCX Stake Boosted by Gables Capital Management Inc.

Gables Capital Management Inc. boosted its holdings in shares of SpaceX (NASDAQ:SPCX) by 78.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 12,328 shares of the company’s stock after acquiring an additional 5,408 shares during the quarter. Gables Capital Management Inc.’s holdings in SpaceX were worth $1,860,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SPCX. Syntax Research Inc. acquired a new stake in shares of SpaceX in the second quarter valued at approximately $26,000. Atwood & Palmer Inc. bought a new position in shares of SpaceX during the 2nd quarter worth approximately $29,000. PayPay Securities Corp acquired a new position in shares of SpaceX during the 2nd quarter worth approximately $30,000. Hickory Point Bank & Trust acquired a new position in shares of SpaceX during the 3rd quarter worth approximately $30,000. Finally, Maryland Capital Advisors Inc. bought a new stake in SpaceX in the 3rd quarter valued at $30,000.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX will compete for up to $10 billion in NASA lunar-base contracts, adding a potential source of business beyond launches and satellite services. The contracts have not yet been awarded. Article: SpaceX to compete for NASA lunar-base contracts
• Positive Sentiment: SpaceX’s AI-computing plans are attracting investor and analyst attention. Deutsche Bank sees tighter data-center rules potentially benefiting the company by limiting available computing capacity and supporting higher prices; reported AI-computing arrangements could also create a new revenue stream. Article: Deutsche Bank on SpaceX and data-center rules
• Neutral Sentiment: The proposed $24 billion Starbase data center and gas-fired power plant could expand SpaceX’s AI capacity and provide dedicated energy, but it remains a plan rather than an operating asset. Article: SpaceX plans a Starbase data center and gas plant
• Negative Sentiment: The Texas project faces policy uncertainty: Governor-elect Gina Hinojosa has supported pausing new hyperscale data centers, and SpaceX is seeking tax breaks. Delays or restrictions could impede the expansion. Article: Texas AI project faces policy hurdles
• Negative Sentiment: Analysts and commentators have flagged the cost of SpaceX’s AI buildout and energy investments, which could pressure cash flow if revenue growth does not justify the heavy spending. Article: SpaceX’s energy investments and cash-flow risk

Wall Street Analyst Weigh In

Several brokerages have issued reports on SPCX. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $235.00 price target on shares of SpaceX in a report on Monday, September 28th. Weiss Ratings assumed coverage on shares of SpaceX in a report on Tuesday, September 1st. They issued a “sell (d)” rating on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $245.00 price objective on shares of SpaceX in a research report on Wednesday, October 21st. Seaport Research Partners lowered shares of SpaceX from a “buy” rating to a “neutral” rating in a research report on Friday, August 7th. 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 investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $243.60.

Insider Transactions at SpaceX

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction on Tuesday, September 22nd. The stock was 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. This represents a 12.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Trading Up 0.7%

SpaceX stock opened at $143.09 on Wednesday. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. The company has a 50 day moving average price of $149.18. The company has a quick ratio of 3.00, a current ratio of 3.08 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1.94 trillion and a P/E ratio of 550.35.

SpaceX (NASDAQ:SPCX) last announced its earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.25. The company had revenue of $14.57 billion for the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. SpaceX’s revenue for the quarter was up 161.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.36) EPS. As a group, equities research analysts predict that SpaceX will post 0.19 earnings per share for the current fiscal year.

About SpaceX

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.