SpaceX (NASDAQ:SPCX) Trading Down 2.2% – Should You Sell?

SpaceX (NASDAQ:SPCX) traded down 2.2% on Tuesday . The stock traded as low as $135.52 and last traded at $136.08. 45,910,199 shares traded hands during trading, a decline of 64% from the average daily volume of 125,833,156 shares. The stock had previously closed at $139.14.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Evercore ISI initiated coverage on SpaceX with an Outperform rating and a $230 price target, reinforcing the view that the stock still has substantial upside if Starship and Starlink execution improves. Article Title
• Positive Sentiment: Frontier Airlines said it will roll out SpaceX’s Starlink in-flight Wi-Fi beginning in 2027, adding another commercial customer and supporting the case that Starlink’s satellite internet business could become a bigger growth engine than rocket launches alone. Article Title
• Positive Sentiment: The FAA cleared SpaceX to proceed with Starship Flight 13 after its mishap probe, removing a regulatory hurdle and giving investors a near-term technical milestone to watch. Article Title
• Positive Sentiment: Cathie Wood’s ARK funds continued buying SpaceX shares, and other bullish notes from Wall Street suggest some investors still see the pullback as an opportunity rather than a warning sign. Article Title
• Neutral Sentiment: Commentary around SpaceX’s inclusion in the Nasdaq-100 and multiple bullish long-term price targets is helping keep the stock in focus, but these are largely sentiment-driven rather than immediate operating catalysts. Article Title
• Neutral Sentiment: Articles arguing SpaceX could double over the next two years or trade much higher by 2028 are constructive, but they mainly reinforce the debate over whether the stock is still too expensive after its rapid run-up. Article Title
• Negative Sentiment: The stock remains under pressure from valuation concerns, with several pieces noting that SpaceX has fallen sharply from post-IPO highs and is trading near its offering price. Article Title
• Negative Sentiment: Bearish coverage is focused on China competition, lockup expiry risk, and a potential surge in tradable shares, which could keep pressure on SpaceX if momentum buyers continue to exit. Article Title

Analysts Set New Price Targets

A number of research firms have issued reports on SPCX. Mizuho began coverage on SpaceX in a report on Tuesday, July 7th. They issued an “outperform” rating and a $200.00 target price on the stock. Roth Capital raised SpaceX to a “buy” rating in a research report on Monday, June 22nd. Cfra started coverage on shares of SpaceX in a research note on Friday, June 12th. They issued a “sell” rating and a $115.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of SpaceX in a research report on Tuesday, July 7th. They set a “buy” rating and a $255.00 target price on the stock. Finally, Wolfe Research assumed coverage on shares of SpaceX in a report on Friday, June 12th. They issued an “outperform” rating and a $175.00 price target for the company. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, SpaceX currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.77.

SpaceX Trading Down 2.2%

SpaceX (NASDAQ:SPCX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.27) earnings per share for the quarter. The firm had revenue of $4.69 billion during the quarter.

Institutional Trading of SpaceX

A number of large investors have recently bought and sold shares of SPCX. Hyperion Asset Management Ltd acquired a new position in SpaceX during the second quarter worth $201,137,000. Tema ETFs LLC acquired a new stake in shares of SpaceX in the 2nd quarter valued at $32,037,000. Teamwork Financial Advisors LLC acquired a new stake in shares of SpaceX in the 2nd quarter valued at $8,027,000. Heck Capital Advisors LLC bought a new stake in shares of SpaceX in the 2nd quarter worth about $3,768,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of SpaceX during the 2nd quarter worth about $3,383,000.

About SpaceX

SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.

Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.