SpaceX (NASDAQ:SPCX) Stock Price Down 2% – Here’s What Happened

SpaceX (NASDAQ:SPCX)’s stock price fell 2% during trading on Tuesday . The stock traded as low as $139.41 and last traded at $143.34. 83,580,791 shares were traded during mid-day trading, a decline of 27% from the average session volume of 115,023,477 shares. The stock had previously closed at $146.23.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Fresh second-quarter 13F filings showed major investors building sizable SpaceX positions. Nvidia reported more than 122 million shares, while Harvard, Alphabet, Intesa Sanpaolo, and other institutions also disclosed multibillion-dollar stakes—signaling confidence in SpaceX’s long-term potential. Nvidia Holds More Than 122 Million Shares of SPCX Stock After Q2
• Positive Sentiment: Analysts highlighted Starlink V3, direct-to-cell connectivity, and potential orbital data centers as significant growth opportunities. UBS maintained a $210 target, while Morgan Stanley reiterated a $300 target and Bernstein raised its target to $248. SpaceX seen on cusp of Starlink growth surge
• Positive Sentiment: SpaceX signed a 2027 launch agreement with Vietnam’s VinSpace, adding commercial demand for its rideshare services. The company is also scheduled for another Vandenberg launch, reinforcing its high launch cadence. SpaceX Adds New Satellite Customer With 2027 VinSpace Launch Deal
• Neutral Sentiment: SpaceX completed its $60 billion Cursor acquisition ahead of schedule, expanding its AI strategy. The deal could create new revenue opportunities, but investors remain uncertain whether the acquisition will enhance or dilute returns from the profitable launch and Starlink businesses. SpaceX Stock Drops After It Spends $60 Billion to Bolster Its AI Ambitions
• Negative Sentiment: Approximately 319 million additional shares become eligible for sale on August 20 as another lock-up expires. The potential increase in supply is the clearest immediate overhang, particularly after SPCX’s recent rebound. SpaceX shares slip as another 319 million come up for sale
• Negative Sentiment: Bears argue that SpaceX remains dramatically overvalued, with price targets as low as $75 or $10–$30. Critics cite heavy AI investment, execution risks surrounding Starship reusability, customer concentration, and a valuation requiring near-perfect growth. Is SpaceX a $10 Stock?

Analyst Upgrades and Downgrades

SPCX has been the subject of a number of recent research reports. Benchmark started coverage on SpaceX in a research note on Monday, June 22nd. They set a “buy” rating for the company. Wells Fargo & Company dropped their target price on SpaceX from $230.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Royal Bank Of Canada cut SpaceX from an “outperform” rating to a “hold” rating in a research report on Friday, August 7th. Wedbush assumed coverage on SpaceX in a research report on Tuesday, June 30th. They issued an “outperform” rating and a $190.00 price objective on the stock. Finally, Cfra initiated coverage on shares of SpaceX in a research note on Friday, June 12th. They set a “sell” rating and a $115.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $224.34.

SpaceX Trading Down 2.0%

The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average price is $143.04. The firm has a market cap of $1.87 trillion and a PE ratio of -1,592.67.

SpaceX (NASDAQ:SPCX) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.17. The business had revenue of $7.81 billion during the quarter. The firm’s revenue was up 91.9% on a year-over-year basis. Equities research analysts anticipate that SpaceX will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On SpaceX

A number of institutional investors have recently added to or reduced their stakes in SPCX. Hyperion Asset Management Ltd purchased a new position in SpaceX during the second quarter valued at $201,137,000. Assenagon Asset Management S.A. purchased a new stake in shares of SpaceX during the second quarter worth about $2,502,000. Sage Capital Advisors llc acquired a new position in shares of SpaceX during the 2nd quarter worth about $3,254,000. Dynamic Advisor Solutions LLC purchased a new position in SpaceX in the 2nd quarter valued at about $3,383,000. Finally, Canvas Wealth Advisors LLC acquired a new stake in SpaceX in the 2nd quarter worth about $2,598,000.

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.