SpaceX (NASDAQ:SPCX) Rating Increased to Strong Sell at DZ Bank

DZ Bank upgraded shares of SpaceX (NASDAQ:SPCX) to a strong sell rating in a research report report published on Thursday morning,Zacks.com reports.

SPCX has been the topic of several other research reports. Royal Bank Of Canada downgraded shares of SpaceX from an “outperform” rating to a “hold” rating in a report on Friday, August 7th. Guggenheim began coverage on shares of SpaceX in a report on Friday, August 7th. They set a “buy” rating for the company. Mizuho initiated coverage on SpaceX in a report on Tuesday, July 7th. They issued an “outperform” rating and a $200.00 price objective on the stock. HSBC started coverage on SpaceX in a research report on Thursday, July 23rd. They set a “hold” rating and a $115.00 target price on the stock. Finally, Argus raised SpaceX from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have given a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $220.20.

SpaceX Price Performance

SpaceX stock opened at $136.97 on Thursday. 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’s 50 day moving average is $142.32. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. The stock has a market capitalization of $1.79 trillion and a PE ratio of -1,521.89.

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

Institutional Trading of SpaceX

A number of institutional investors have recently added to or reduced their stakes in the stock. Syntax Research Inc. acquired a new position in SpaceX during the second quarter worth about $26,000. Atwood & Palmer Inc. acquired a new stake in shares of SpaceX during the 2nd quarter valued at approximately $29,000. Marquette Asset Management LLC purchased a new stake in shares of SpaceX during the 2nd quarter worth approximately $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of SpaceX in the 2nd quarter worth approximately $62,000. Finally, Burkett Financial Services LLC acquired a new stake in shares of SpaceX in the 2nd quarter worth approximately $70,000.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX successfully launched 29 Starlink satellites and landed the Falcon 9 booster on a drone ship. The mission pushed Starlink toward—and according to Elon Musk, beyond—11,000 satellites in orbit, reinforcing the company’s launch cadence and satellite-internet expansion. SpaceX launches 29 Starlink satellites
• Positive Sentiment: Federal policy targeting 1,000 launches annually by 2030 could create a favorable regulatory and contracting environment for SpaceX. Musk has also outlined an extremely ambitious Starship goal of roughly 10,000 launches per year, highlighting the company’s long-term growth opportunity. Elon Musk on Starship launch targets
• Positive Sentiment: William Blair reiterated a Buy rating, citing SpaceX’s lead in reusable rockets and potential growth from AI-related revenue. A proposed $16.8 billion chip-factory venture with Tesla could also support SpaceX’s computing and AI ambitions. William Blair reiterates Buy

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.