Purewater Capital LLC Acquires 28,594 Shares of SpaceX $SPCX

Purewater Capital LLC acquired a new stake in SpaceX (NASDAQ:SPCX) during the third quarter, according to its most recent filing with the SEC. The firm acquired 28,594 shares of the company’s stock, valued at approximately $4,314,000. SpaceX comprises approximately 3.4% of Purewater Capital LLC’s holdings, making the stock its 11th largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. SC US Ttgp LTD. bought a new stake in shares of SpaceX during the second quarter worth $20,933,621,000. Darsana Capital Partners LP acquired a new position in shares of SpaceX during the second quarter valued at $17,335,783,000. K5 Global Advisor LLC acquired a new position in shares of SpaceX during the second quarter valued at $6,587,531,000. State Street Corp bought a new position in SpaceX in the second quarter valued at about $1,858,329,000. Finally, Dragoneer Investment Group LLC bought a new position in SpaceX in the second quarter valued at about $1,366,880,000.

SpaceX Price Performance

NASDAQ:SPCX opened at $147.49 on Monday. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00. The company has a market cap of $1.94 trillion and a price-to-earnings ratio of -1,638.78. The business has a fifty day moving average of $149.40.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.25. The business had revenue of $14.57 billion during the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The firm’s revenue for the quarter was up 161.4% on a year-over-year basis. During the same period last year, the firm earned ($0.36) earnings per share. As a group, equities research analysts expect that SpaceX will post 0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SPCX has been the subject of several recent research reports. Phillip Securities raised SpaceX from a “strong sell” rating to a “strong-buy” rating in a report on Friday. Piper Sandler restated a “neutral” rating on shares of SpaceX in a research report on Wednesday. Seaport Research Partners lowered shares of SpaceX from a “buy” rating to a “neutral” rating in a research note on Friday, August 7th. Barclays lifted their price target on shares of SpaceX from $254.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and set a $250.00 price target on shares of SpaceX in a research note on Wednesday, October 21st. Four research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, SpaceX presently has an average rating of “Moderate Buy” and a consensus target price of $245.00.

More SpaceX News

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

Insiders Place Their Bets

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the transaction, the chief operating officer 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX 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.