SpaceX (NASDAQ:SPCX) Hits New 12-Month Low – Here’s What Happened

SpaceX (NASDAQ:SPCX)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $120.26 and last traded at $122.3410, with a volume of 15526393 shares trading hands. The stock had previously closed at $123.99.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Analyst and strategist coverage remains constructive in spots, with Morgan Stanley reiterating a Buy rating and a $300 target, while another analyst sees the stock potentially reaching $800 if SpaceX’s AI ambitions scale successfully. Article: SpaceX’s Energy-to-Intelligence Edge Drives Sustained Buy Rating and Unchanged $300 Price Target
• Positive Sentiment: Reports that SpaceX is in talks to provide computing power for the Pentagon’s AI push could open a new high-margin growth avenue beyond rockets and Starlink. Article: SpaceX Is in Talks on a Multibillion Dollar Defense Contract. Here Is What It Means for Investors
• Positive Sentiment: SpaceX also announced its next Starship test flight for July 23, giving investors a near-term catalyst that could improve sentiment if the launch goes well. Article: SpaceX moves Starship launch attempt to Thursday
• Neutral Sentiment: Several articles frame the stock as a major IPO winner that is now facing a reality check, with traders reassessing whether the company’s rapid growth justifies its rich valuation. Article: SpaceX gave investors intense FOMO…
• Neutral Sentiment: SpaceX’s inclusion in the Nasdaq-100 and ongoing bullish long-term forecasts keep the name in focus, but they have not been enough to offset the recent weakness. Article: How to Invest in SpaceX Stock After Its Nasdaq-100 Debut
• Negative Sentiment: SpaceX has lost its IPO premium, fallen below its IPO price, and hit record lows as investors worry that the valuation is still too high for the current business mix. Article: Prediction: This Is Where SpaceX Stock Will Finish 2026
• Negative Sentiment: Recent headlines also highlight massive paper-value losses and near-term selling pressure from an upcoming lockup expiration, both of which could keep the stock volatile. Article: SpaceX’s IPO Lockup Starts Expiring in August. Here’s Why the Next Wave of Sellers Could Be the Real Test.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Stifel Nicolaus initiated coverage on shares of SpaceX in a report on Tuesday, July 7th. They set a “buy” rating and a $190.00 price objective for the company. Wells Fargo & Company started coverage on shares of SpaceX in a research note on Tuesday, July 7th. They issued an “overweight” rating and a $230.00 target price on the stock. Arete Research set a $401.00 price target on shares of SpaceX and gave the stock a “buy” rating in a research note on Thursday, June 18th. Susquehanna started coverage on shares of SpaceX in a report on Tuesday, June 23rd. They issued a “neutral” rating and a $170.00 price target on the stock. Finally, TD Cowen started coverage on SpaceX in a research note on Monday, June 22nd. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.78.

SpaceX Stock Down 0.9%

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.27) EPS for the quarter. The company had revenue of $4.69 billion for the quarter.

Hedge Funds Weigh In On SpaceX

Large investors have recently made changes to their positions in the stock. Hyperion Asset Management Ltd purchased a new position in shares of SpaceX in the second quarter valued at $201,137,000. Tema ETFs LLC purchased a new stake in SpaceX during the 2nd quarter worth about $32,037,000. Teamwork Financial Advisors LLC bought a new position in SpaceX in the 2nd quarter worth about $8,027,000. Heck Capital Advisors LLC purchased a new position in SpaceX during the 2nd quarter valued at about $3,768,000. Finally, Dynamic Advisor Solutions LLC purchased a new position in SpaceX during the 2nd quarter valued at about $3,383,000.

SpaceX Company Profile

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.