MBL Wealth LLC Buys New Shares in SpaceX $SPCX

MBL Wealth LLC bought a new stake in SpaceX (NASDAQ:SPCX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,761 shares of the company’s stock, valued at approximately $567,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Viking Fund Management LLC acquired a new stake in SpaceX during the 3rd quarter worth about $1,358,000. Diversify Advisory Services LLC increased its position in shares of SpaceX by 34.0% in the third quarter. Diversify Advisory Services LLC now owns 48,477 shares of the company’s stock valued at $7,205,000 after buying an additional 12,292 shares in the last quarter. Wedbush Securities Inc. purchased a new stake in SpaceX in the 2nd quarter worth $5,094,000. Avior Wealth Management LLC purchased a new stake in shares of SpaceX during the third quarter worth about $2,934,000. Finally, Apella Capital LLC increased its stake in SpaceX by 218.2% during the 3rd quarter. Apella Capital LLC now owns 8,424 shares of the company’s stock worth $1,412,000 after buying an additional 5,777 shares in the last quarter.

Wall Street Analysts Forecast Growth

SPCX has been the subject of a number of recent research reports. Phillip Securities upgraded shares of SpaceX from a “strong sell” rating to a “strong-buy” rating in a research report on Friday. William Blair restated an “outperform” rating on shares of SpaceX in a research report on Friday, October 9th. Weiss Ratings initiated coverage on shares of SpaceX in a research note on Tuesday, September 1st. They issued a “sell (d)” rating on the stock. JPMorgan Chase & Co. increased their target price on SpaceX from $240.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Stifel Nicolaus assumed coverage on shares of SpaceX in a report on Tuesday, July 7th. They set a “buy” rating and a $190.00 target price on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, SpaceX presently has a consensus rating of “Moderate Buy” and an average target price of $244.19.

SpaceX Stock Up 1.9%

Shares of SPCX opened at $147.49 on Friday. The company has a 50 day simple moving average of $149.40. SpaceX has a 52-week low of $104.83 and a 52-week high of $225.64. 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 firm has a market capitalization of $1.94 trillion and a P/E ratio of -1,638.78.

SpaceX (NASDAQ:SPCX) last posted its earnings results on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.25. The company had revenue of $14.57 billion during the quarter. SpaceX’s revenue was up 161.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.36) earnings per share. On average, equities analysts anticipate that SpaceX will post 0.13 EPS for the current fiscal year.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong earnings and AI growth supported the rebound. SpaceX reported third-quarter revenue of $14.58 billion, up 161% year over year, and earnings per share of $0.35 versus analysts’ $0.10 estimate. Its AI segment reportedly generated $431 million in net income, helping offset losses in the launch business. Fantastic News for SpaceX Stock Investors
• Positive Sentiment: Analyst sentiment improved sharply. PhilipCapital upgraded SpaceX from “Sell” to “Buy” and raised its price target from $75 to $250. Bank of America also lifted its target to $275, citing stronger growth prospects and Starship milestones. SpaceX Just Scored a Double Upgrade
• Positive Sentiment: Wireless ambitions broaden the growth story. Reports that SpaceX is seeking access to at least 80,000 U.S. cell sites suggest Starlink could evolve into a nationwide wireless carrier, potentially creating a major new revenue stream. The news pressured telecom stocks while benefiting tower owners. SpaceX Seeks Access to 80,000 US Cell Sites
• Neutral Sentiment: A potential Tesla (NASDAQ: TSLA) merger remains speculative. Elon Musk called the combination a “good idea,” but valuation, conflicts of interest, shareholder approval, antitrust review and Tesla’s China operations could delay or prevent a transaction. SpaceX-Tesla Merger Chatter
• Negative Sentiment: Funding and cash-burn concerns remain significant. SpaceX reportedly burned more than $9.9 billion in free cash flow during the quarter and is raising approximately $40 billion of debt at relatively high interest rates to finance AI and other expansion plans. SpaceX $40 Billion Debt Deal
• Negative Sentiment: Execution and reputational risks could limit upside. The launch division was unprofitable because of heavy research spending, while reports of continuing Starlink restrictions in Ukraine could threaten government relationships and future contracts. In addition, upcoming insider share unlocks may increase supply. Ukraine Says Starlink Restrictions Remain

Insider Activity

In other news, COO Gwynne Shotwell sold 342,170 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the transaction, the chief operating officer directly owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. This trade represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Company Profile

Space Exploration Technologies Corp., commonly known as SpaceX, is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles and spacecraft designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s principal products and services include the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starlink satellite communications network. Falcon rockets are used to launch satellites, cargo and crew, while Dragon spacecraft support transportation to and from low Earth orbit.