SpaceX (NASDAQ:SPCX) Trading Up 9.6% – Time to Buy?

SpaceX (NASDAQ:SPCX) shares rose 9.6% during mid-day trading on Wednesday . The company traded as high as $149.60 and last traded at $146.15. 165,364,188 shares changed hands during mid-day trading, an increase of 43% from the average daily volume of 115,958,148 shares. The stock had previously closed at $133.29.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Australia’s richest person, Gina Rinehart, reportedly purchased 8 million SpaceX shares, valued at approximately $1.37 billion. The investment provides a high-profile vote of confidence in the company’s long-term prospects. Australia’s Richest Person Makes $1.37 Billion Bet
• Positive Sentiment: SpaceX completed its approximately $60 billion acquisition of AI coding company Cursor through a stock issuance. Supporters believe Cursor could strengthen Grok, provide enterprise distribution and accelerate SpaceX’s transition into an AI and cloud-computing company. SpaceX’s Cursor Acquisition Has Closed
• Positive Sentiment: Analysts including Morgan Stanley’s Adam Jonas remain bullish, citing undervalued AI potential and maintaining a $300 price target. Elon Musk’s disclosed 48.4% ownership stake may also support investor confidence. Morgan Stanley Maintains Buy Rating
• Neutral Sentiment: Tesla is reportedly preparing a demonstration of a rocket-assisted Roadster using SpaceX technology. The event could generate publicity and highlight cooperation between Musk’s companies, but it is not yet a material revenue driver. Tesla Preps SpaceX Roadster Demo
• Negative Sentiment: Approximately 320 million additional shares may become eligible for trading next week. Investors are concerned that increased supply could trigger insider selling, even though the first post-IPO unlock did not produce the anticipated selloff. Why SpaceX Stock Is Sliding
• Negative Sentiment: Profit-taking and short-term trading pressure are weighing on the shares after their recent rally. Concerns also remain over SpaceX’s heavy AI capital spending, continuing losses, lofty valuation and potential dilution from the Cursor transaction.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Argus raised shares of SpaceX from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Friday, August 7th. Zacks Research upgraded shares of SpaceX to a “hold” rating in a research report on Monday, June 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $246.00 price objective on shares of SpaceX in a report on Wednesday, August 5th. Phillip Securities raised SpaceX to a “strong sell” rating in a report on Friday, July 31st. Finally, Barclays raised SpaceX from an “underweight” rating to an “overweight” rating in a report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, SpaceX has an average rating of “Moderate Buy” and a consensus price target of $229.00.

SpaceX Price Performance

The stock has a market cap of $1.83 trillion and a PE ratio of -1,555.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. The business has a 50-day moving average price of $143.04.

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.17. The business had revenue of $7.81 billion for the quarter. The firm’s quarterly revenue was up 91.9% compared to the same quarter last year. Sell-side analysts anticipate that SpaceX will post -0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SpaceX

Several institutional investors have recently modified their holdings of SPCX. Hyperion Asset Management Ltd acquired a new stake in shares of SpaceX in the 2nd quarter valued at approximately $201,137,000. Abound Wealth Management bought a new stake in SpaceX in the second quarter valued at approximately $350,000. Accel Wealth Management acquired a new stake in SpaceX in the second quarter worth $203,000. Heck Capital Advisors LLC bought a new position in shares of SpaceX during the second quarter worth $3,768,000. Finally, JFS Wealth Advisors LLC bought a new stake in shares of SpaceX in the 2nd quarter valued at $325,000.

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.