SpaceX (NASDAQ:SPCX) Stock Price Down 3.4% – Time to Sell?

SpaceX (NASDAQ:SPCX)’s share price was down 3.4% during trading on Friday . The stock traded as low as $107.57 and last traded at $108.37. 58,054,374 shares were traded during mid-day trading, a decline of 43% from the average session volume of 102,655,320 shares. The stock had previously closed at $112.20.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: The U.S. Space Force awarded SpaceX two task orders worth approximately $1.6 billion for 18 Falcon 9 launches carrying national-security satellites through 2027. The contract adds significant, recurring government revenue and reinforces SpaceX’s strategic importance. SpaceX gets $1.6 billion US Space Force order for 18 Falcon 9 launches
• Positive Sentiment: A successful demonstration of next-generation Starlink V3 satellites and continued optimism about Starlink’s satellite-internet position support the long-term growth case. However, these developments may already be reflected in SpaceX’s valuation. Jim Cramer praises Starlink V3 progress
• Neutral Sentiment: Reports that Tesla could sell or separate its China business to facilitate a future Tesla-SpaceX merger have increased speculation around a potential combination. Elon Musk called the China-sale report “absurdly fake news,” making the merger an uncertain catalyst rather than a dependable valuation driver. Tesla weighs sale of China business to pave way for potential SpaceX merger
• Neutral Sentiment: A discarded SpaceX rocket stage is expected to collide with the Moon. The event is attracting attention but appears unlikely to materially affect SpaceX’s financial results unless it produces regulatory or reputational consequences. Discarded SpaceX rocket set for collision with the Moon
• Negative Sentiment: Short selling has risen ahead of SpaceX’s first public second-quarter earnings report on August 4. Investors are seeking evidence of sustainable revenue, profitability and control of heavy Starlink, Starship and AI spending. Why SpaceX stock remains under pressure ahead of earnings
• Negative Sentiment: Morgan Stanley warned that a potential $100 billion insider share unlock could sharply increase supply and pressure the stock. This concern, combined with SpaceX’s high valuation and lack of profitability, is limiting the impact of the new contract. Morgan Stanley warns SpaceX approaching its most dangerous moment
• Negative Sentiment: A five-star analyst at Phillip Securities rated SpaceX a sell, citing valuation and downside risk after the post-IPO decline. Bill Ackman similarly praised Starlink’s near-monopoly characteristics but said the stock is too expensive to buy, reinforcing investor caution. Analyst rates SpaceX stock a sell

Analysts Set New Price Targets

Several research firms have weighed in on SPCX. Deutsche Bank Aktiengesellschaft began 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. Zacks Research upgraded shares of SpaceX to a “hold” rating in a research note on Monday, June 15th. Wolfe Research began coverage on shares of SpaceX in a report on Friday, June 12th. They set an “outperform” rating and a $175.00 price objective on the stock. Morgan Stanley reissued an “overweight” rating on shares of SpaceX in a research report on Friday, July 24th. Finally, Clear Str upgraded SpaceX to a “strong-buy” rating in a research note on Tuesday, July 7th. Four analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $230.50.

SpaceX Stock Down 3.4%

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 for the quarter.

Hedge Funds Weigh In On SpaceX

A number of institutional investors have recently modified their holdings of SPCX. Atwood & Palmer Inc. acquired a new position in shares of SpaceX in the 2nd quarter valued at about $29,000. Marquette Asset Management LLC acquired a new stake in SpaceX during the second quarter worth about $32,000. Burkett Financial Services LLC purchased a new position in SpaceX during the second quarter valued at approximately $70,000. Contravisory Investment Management Inc. acquired a new position in SpaceX in the second quarter valued at approximately $73,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in SpaceX in the 2nd quarter worth approximately $89,000.

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.