SpaceX (NASDAQ:SPCX) Sets New 52-Week Low – What’s Next?

SpaceX (NASDAQ:SPCX) reached a new 52-week low during trading on Tuesday . The stock traded as low as $147.11 and last traded at $157.5960, with a volume of 41796938 shares changing hands. The stock had previously closed at $154.60.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX landed a $6.3 billion AI compute deal with Reflection AI, reinforcing the bull case that the company is becoming a meaningful player in AI infrastructure as well as space launches. SpaceX Just Inked a New AI Deal Worth Up to $6.3 Billion
• Positive Sentiment: There was also strong investor demand for the bond sale, with reports that orders approached $90 billion, suggesting creditors still see SpaceX as a high-quality borrower despite the stock pullback. SpaceX launches $25 billion notes offering, source says
• Neutral Sentiment: SpaceX successfully launched a nighttime rocket mission in California, a reminder that core launch operations are still active and could support the long-term story, though it is not a major near-term stock catalyst. SpaceX plans nighttime rocket launch in California. How to watch
• Neutral Sentiment: Susquehanna initiated coverage with a Neutral rating and a $170 price target, highlighting that analysts remain divided and that the stock is still in a valuation debate. Susquehanna Starts SpaceX (SPCX) at Neutral
• Negative Sentiment: Bearish commentary intensified, with multiple articles warning that the IPO hype may have outrun fundamentals and that SpaceX could face more downside as lockup expirations approach and insiders eventually gain the ability to sell. SpaceX IPO Hype May Be Setting Investors Up for Disappointment
• Negative Sentiment: Short sellers are reportedly increasing bets against SPCX, reflecting growing skepticism after the stock’s sharp post-debut reversal and the market’s concern that the valuation is too rich. SpaceX short selling bets increase after post-debut share selloff

Analyst Upgrades and Downgrades

Several analysts have issued reports on SPCX shares. Cfra assumed coverage on shares of SpaceX in a research report on Friday, June 12th. They set a “sell” rating and a $115.00 price target on the stock. Oppenheimer boosted their price objective on shares of SpaceX from $190.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Seaport Research Partners upgraded shares of SpaceX to a “buy” rating in a research note on Monday. Wells Fargo & Company upgraded SpaceX to an “overweight” rating in a report on Monday. Finally, Wolfe Research began coverage on SpaceX in a research report on Friday, June 12th. They set an “outperform” rating and a $175.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $212.67.

SpaceX Trading Down 0.9%

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

Insider Activity at SpaceX

In related news, CEO Elon Musk sold 11,390 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $105.32, for a total value of $1,199,594.80. Following the transaction, the chief executive officer owned 526,165,900 shares in the company, valued at approximately $55,415,792,588. This represents a 0.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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.