SpaceX (NASDAQ:SPCX) Rating Increased to Hold at Susquehanna

Susquehanna upgraded shares of SpaceX (NASDAQ:SPCX) to a hold rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley downgraded SpaceX to a “negative” rating in a research note on Monday. Benchmark began coverage on shares of SpaceX in a research report on Monday. They set a “buy” rating on the stock. Wolfe Research began coverage on shares of SpaceX in a research report on Friday, June 12th. They issued an “outperform” rating and a $175.00 target price for the company. Arete Research set a $401.00 price target on shares of SpaceX and gave the stock a “buy” rating in a research note on Thursday, June 18th. Finally, KGI Securities lowered shares of SpaceX from an “outperform” rating to a “hold” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, SpaceX presently has a consensus rating of “Moderate Buy” and an average target price of $212.67.

SpaceX Price Performance

SPCX stock opened at $156.11 on Tuesday. SpaceX has a 12-month low of $147.11 and a 12-month high of $225.64.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.27) earnings per share (EPS) for the quarter. The company had revenue of $4.69 billion during the quarter.

Insider Buying and Selling

In other SpaceX news, CEO Elon Musk sold 11,390 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $105.32, for a total transaction of $1,199,594.80. Following the completion of the transaction, the chief executive officer owned 526,165,900 shares of the company’s stock, valued at $55,415,792,588. The trade was a 0.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX announced a $6.3 billion compute deal with Reflection AI, which adds a new recurring revenue stream and underscores demand for its data-center capacity. Reuters: AI startup Reflection signs computing power deal with SpaceX
• Positive Sentiment: The company’s first-ever public bond sale drew unusually strong demand, showing lenders still view SpaceX as a high-quality credit despite the sell-off. CNBC: SpaceX raises $25 billion in debt sale less than two weeks after IPO
• Neutral Sentiment: KeyCorp initiated coverage with a “Sector Weight” view and relatively muted earnings estimates, reinforcing the idea that Wall Street is still waiting for proof that SpaceX’s growth can translate into profits.
• Negative Sentiment: SpaceX’s new debt offering and debt-refinancing needs are pressuring the stock, with investors worried the company is raising cash so soon after its IPO because operating cash flow may not be enough to fund expansion. MarketWatch: SpaceX already needs to raise more cash, and its stock is falling 10%
• Negative Sentiment: Ongoing concerns about valuation, dilution from acquisitions, and potential insider selling after lockup periods are adding to the sell-off and keeping traders cautious. Reuters: SpaceX launches notes offering, discloses $100.8 billion cash balance

SpaceX Company Profile

SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.

Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.