Platform Technology Partners Makes New Investment in SpaceX $SPCX

Platform Technology Partners purchased a new position in SpaceX (NASDAQ:SPCX) during the third quarter, Holdings Channel reports. The fund purchased 5,178 shares of the company’s stock, valued at approximately $781,000.

Several other institutional investors also recently added to or reduced their stakes in SPCX. Syntax Research Inc. purchased a new stake in SpaceX during the second quarter worth about $26,000. Atwood & Palmer Inc. purchased a new position in SpaceX in the second quarter valued at about $29,000. PayPay Securities Corp purchased a new position in SpaceX in the second quarter valued at about $30,000. Marquette Asset Management LLC bought a new position in shares of SpaceX during the 2nd quarter valued at approximately $32,000. Finally, Hickory Point Bank & Trust bought a new position in shares of SpaceX during the 3rd quarter valued at approximately $30,000.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Starlink Mobile gains a major technology partner. SpaceX selected Qualcomm to supply 5G infrastructure technology for its planned U.S. wireless network, supporting its effort to expand beyond satellite connectivity and compete with established carriers. Article: SpaceX signs deal with Qualcomm to provide network technology for U.S. mobile service
• Positive Sentiment: Analyst coverage offers a counterpoint to the selloff. China Renaissance initiated coverage with a Buy rating and a $194.20 price target, while a separate valuation update cited potential upside from AI and Starlink growth. These are analyst views, not assurances of future performance. Article: SpaceX Stock Today Has These 2 Positives. The Stock Is Still Falling.
• Neutral Sentiment: A proposed change to U.S. launch rules could benefit SpaceX. The proposal may create a more favorable operating environment, but its eventual impact depends on the final rules and implementation. Article: US proposes space launch rule changes in potential boost for SpaceX
• Negative Sentiment: Election results have raised political and regulatory uncertainty. With Democrats controlling Congress and Texas turning blue, investors fear tougher scrutiny and permitting hurdles for AI data centers, as well as obstacles to SpaceX’s expansion and a potential Tesla merger. Article: SpaceX, Tesla extend losses as midterm results cloud data center, merger outlook
• Negative Sentiment: AI exposure and funding needs are weighing on sentiment. The broader AI-stock retreat is hitting SpaceX as investors question the cost and returns of its large computing buildout. Reports that debt-default insurance costs reached a record high add to concerns about perceived credit risk and financing. Article: Elon Musk’s SpaceX Default Risk Hits Record High as Democratic Sweep Adds to AI Rout

SpaceX Stock Down 9.0%

NASDAQ SPCX opened at $123.62 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.00 and a current ratio of 3.08. The stock has a market capitalization of $1.68 trillion and a P/E ratio of 475.46. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The firm’s 50-day simple moving average is $149.32.

SpaceX (NASDAQ:SPCX) last posted its earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.25. The firm had revenue of $14.57 billion during the quarter. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. SpaceX’s revenue for the quarter was up 161.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.36) EPS. As a group, equities research analysts anticipate that SpaceX will post 0.19 EPS for the current year.

Insider Activity at SpaceX

In related news, COO Gwynne Shotwell sold 342,170 shares of the company’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 sale, the chief operating officer directly owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. This represents a 12.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SPCX shares. Wall Street Zen upgraded shares of SpaceX from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Oppenheimer upped their price objective on SpaceX from $250.00 to $280.00 and gave the company an “outperform” rating in a research note on Wednesday, September 2nd. HSBC reissued a “hold” rating on shares of SpaceX in a report on Wednesday, October 21st. KeyCorp reissued a “sector weight” rating on shares of SpaceX in a research report on Wednesday, October 21st. Finally, Phillip Securities upgraded SpaceX from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $243.60.

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.