SpaceX (NASDAQ:SPCX) Shares Down 3.1% – What’s Next?

SpaceX (NASDAQ:SPCX) traded down 3.1% on Tuesday . The company traded as low as $142.87 and last traded at $143.49. 71,374,763 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 103,505,133 shares. The stock had previously closed at $148.15.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Starship’s first orbital attempt is scheduled for September 22. SpaceX plans to send Starship through six Earth orbits during an approximately 10-hour test and deploy Starlink V3 satellites. A successful mission would mark a major technical milestone and support the company’s launch, satellite and lunar ambitions. SpaceX targets first Starship orbital test on September 22
• Positive Sentiment: Commercialization is beginning to emerge. SpaceX reportedly has a first commercial Starship mission planned for 2028, while its Starfall orbital-return business signed Space Cargo as its first customer. These agreements provide evidence that future revenue may extend beyond launches and Starlink. SpaceX Lines Up Starship’s First Commercial Mission for 2028
• Positive Sentiment: AI infrastructure could become a significant growth driver. CEO Elon Musk expressed confidence that SpaceX will put NVIDIA AI computers into orbit in 2027. Reports also describe large AI-hosting agreements, including a contract expected to begin in December, potentially accelerating revenue and margin growth.
• Positive Sentiment: Nasdaq-100 inclusion should create mechanical demand. SpaceX’s index weighting is expected to rise from roughly 1.28% to 2.82% at the September 18 rebalance as more shares become publicly tradable. Index-tracking funds may need to purchase billions of dollars of stock, although the actual price impact is uncertain. SpaceX Defies Gravity With a Nasdaq-100 Double-Weighting Boost
• Neutral Sentiment: SpaceX reported $7.81 billion in quarterly revenue, up 91.9% year over year, and beat its EPS-loss estimate. However, the company remains unprofitable and trades at an exceptionally high valuation relative to sales.
• Negative Sentiment: Lockup expirations are the clearest near-term overhang. Up to 1.3 billion shares may be released through December, with additional large unlocks expected in October and November. The potential supply could offset index-fund buying and keep volatility elevated. SpaceX Stock Faces a Risk That Keeps Coming Back in Waves
• Negative Sentiment: Investors remain concerned about the enormous capital required for Starship, Starlink and orbital AI projects, as well as the risks that ambitious timelines may slip. Renewed Tesla-SpaceX merger speculation adds uncertainty rather than immediate earnings support.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SPCX. Wells Fargo & Company lowered their price objective on shares of SpaceX from $215.00 to $212.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 8th. Guggenheim assumed coverage on shares of SpaceX in a report on Friday, August 7th. They issued a “buy” rating for the company. Wedbush began coverage on SpaceX in a report on Tuesday, June 30th. They set an “outperform” rating and a $190.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of SpaceX in a research report on Tuesday, July 7th. They set a “buy” rating and a $255.00 target price for the company. Finally, Cfra began coverage on SpaceX in a report on Friday, June 12th. They set a “sell” rating and a $115.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have assigned a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $221.42.

SpaceX Stock Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12. The company has a market cap of $1.88 trillion and a P/E ratio of -1,594.33. The business’s fifty day moving average price is $134.55.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.17. The firm had revenue of $7.81 billion during the quarter. The company’s revenue was up 91.9% on a year-over-year basis. Analysts expect that SpaceX will post -0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bullseye Investment Management LLC acquired a new position in shares of SpaceX during the second quarter valued at about $674,000. Smith Chas P & Associates PA Cpas purchased a new position in shares of SpaceX during the second quarter worth $307,000. Talon Private Wealth LLC purchased a new stake in shares of SpaceX in the second quarter worth about $487,000. Miramontes Capital LLC acquired a new stake in shares of SpaceX during the 2nd quarter worth approximately $786,000. Finally, Core Capital Management & Research inc. purchased a new position in SpaceX in the second quarter valued at $145,000.

About SpaceX

Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems, serving commercial, government and scientific customers.

SpaceX’s principal products include the Falcon 9 and Falcon Heavy rockets, which are used to launch satellites, spacecraft and other payloads into orbit. The company also develops the Dragon spacecraft, which supports cargo and crew missions to low Earth orbit, including missions for NASA and other customers.

Through its Starlink business, SpaceX operates a large constellation of low Earth orbit satellites that provides broadband internet service to customers in numerous countries and regions.