SpaceX (NASDAQ:SPCX) Shares Up 1.9% – Here’s What Happened

SpaceX (NASDAQ:SPCX)’s share price was up 1.9% on Tuesday . The stock traded as high as $154.94 and last traded at $154.72. Approximately 57,524,805 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 105,709,836 shares. The stock had previously closed at $151.85.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: NASA awarded SpaceX an additional $946 million to extend Crew Dragon missions through 2030, lifting the total value of related commitments to nearly $6 billion. The award supports longer-term revenue visibility for the company’s launch and human-spaceflight businesses. NASA’s $946 Million SpaceX Award Extends Crew Dragon Through 2030
• Positive Sentiment: SpaceX and Nvidia are expanding their compute relationship, with SpaceX reportedly planning to use Nvidia hardware exclusively. Investors view the company’s AI-compute and data-center ambitions as a potentially significant future growth engine, although the financial impact is still largely prospective. SpaceX and Nvidia Just Deepened Their Compute Alliance
• Positive Sentiment: SpaceX’s decision to prioritize Starlink launches and reduce shared Falcon 9 missions could give it greater control over launch capacity and pricing. Rideshare rates have reportedly risen to about $7,000 per kilogram, highlighting potential pricing power. SpaceX Is Winding Down the Falcon 9
• Neutral Sentiment: Reports that SpaceX received access to classified U.S. space-tracking data could strengthen its Stargaze product, but competitors are challenging the arrangement, creating possible regulatory and reputational risks. SpaceX Gets Access to Classified U.S. Space-Tracking Data
• Negative Sentiment: Approximately 319 million to 328 million restricted shares became eligible for sale, representing potentially tens of billions of dollars in additional supply. Investors fear that insiders will sell into the market, extending the lockup-related pressure that has weighed on SPCX since its June debut. SpaceX Stock Falls as 328 Million Shares Unlock
• Negative Sentiment: President and COO Gwynne Shotwell has filed to sell roughly $52 million of SpaceX stock. The proposed transaction reinforces concerns about insider supply and may weaken investor confidence in the near term. SpaceX President Files to Sell More Than $50 Million of Stock
• Negative Sentiment: Valuation remains a concern: SpaceX is reporting losses and cannot qualify for S&P 500 inclusion until it meets profitability requirements. That limits a potential index-related catalyst and leaves the stock dependent on continued execution of ambitious Starlink, launch and AI plans. SpaceX Cannot Join the S&P 500 Before June 2027

Analyst Ratings Changes

SPCX has been the topic of several research analyst reports. JPMorgan Chase & Co. assumed coverage on SpaceX in a report on Tuesday, July 7th. They issued an “overweight” rating and a $225.00 price objective on the stock. Canaccord Genuity Group began coverage on SpaceX in a research report on Tuesday, July 7th. They set a “buy” rating and a $246.00 target price on the stock. Phillip Securities raised shares of SpaceX to a “strong sell” rating in a research note on Friday, July 31st. Bank of America began coverage on shares of SpaceX in a research report on Tuesday, July 7th. They set a “buy” rating and a $235.00 price objective for the company. Finally, Zacks Research upgraded shares of SpaceX to a “hold” rating in a research report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have given a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $221.42.

SpaceX Stock Performance

The firm has a market capitalization of $1.94 trillion and a P/E ratio of -1,648.44. The business has a 50 day simple moving average of $135.58. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12.

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

Hedge Funds Weigh In On SpaceX

A number of institutional investors have recently added to or reduced their stakes in SPCX. Syntax Research Inc. purchased a new stake in SpaceX in the 2nd quarter valued at $26,000. Atwood & Palmer Inc. acquired a new stake in SpaceX during the second quarter worth about $29,000. PayPay Securities Corp purchased a new position in SpaceX during the second quarter worth about $30,000. Marquette Asset Management LLC purchased a new stake in shares of SpaceX in the 2nd quarter valued at approximately $32,000. Finally, Community Bank N.A. purchased a new stake in shares of SpaceX during the 2nd quarter valued at approximately $38,000.

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.