SpaceX $SPCX Stock: Candriam S.C.A. Boosts Stake

Candriam S.C.A. grew its stake in shares of SpaceX (NASDAQ:SPCX) by 13.8% in the third quarter, Holdings Channel reports. The institutional investor owned 38,016 shares of the company’s stock after purchasing an additional 4,613 shares during the period. Candriam S.C.A.’s holdings in SpaceX were worth $5,756,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. SC US Ttgp LTD. acquired a new position in SpaceX in the 2nd quarter valued at approximately $20,933,621,000. Darsana Capital Partners LP acquired a new stake in shares of SpaceX during the 2nd quarter worth approximately $17,335,783,000. K5 Global Advisor LLC acquired a new stake in shares of SpaceX during the 2nd quarter worth approximately $6,587,531,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of SpaceX during the 3rd quarter worth approximately $4,224,143,000. Finally, Thrive Capital Management LLC bought a new stake in shares of SpaceX during the second quarter valued at approximately $3,231,681,000.

Insiders Place Their Bets

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total value of $52,547,046.90. Following the sale, the chief operating officer directly owned 2,472,035 shares in the company, valued at $379,630,414.95. This represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Trading Up 0.7%

SPCX stock opened at $143.09 on Wednesday. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64. The company has a market cap of $1.94 trillion and a price-to-earnings ratio of 550.35. The firm has a 50 day moving average of $149.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.00 and a current ratio of 3.08.

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

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX will compete for up to $10 billion in NASA lunar-base contracts, adding a potential source of business beyond launches and satellite services. The contracts have not yet been awarded. Article: SpaceX to compete for NASA lunar-base contracts
• Positive Sentiment: SpaceX’s AI-computing plans are attracting investor and analyst attention. Deutsche Bank sees tighter data-center rules potentially benefiting the company by limiting available computing capacity and supporting higher prices; reported AI-computing arrangements could also create a new revenue stream. Article: Deutsche Bank on SpaceX and data-center rules
• Neutral Sentiment: The proposed $24 billion Starbase data center and gas-fired power plant could expand SpaceX’s AI capacity and provide dedicated energy, but it remains a plan rather than an operating asset. Article: SpaceX plans a Starbase data center and gas plant
• Negative Sentiment: The Texas project faces policy uncertainty: Governor-elect Gina Hinojosa has supported pausing new hyperscale data centers, and SpaceX is seeking tax breaks. Delays or restrictions could impede the expansion. Article: Texas AI project faces policy hurdles
• Negative Sentiment: Analysts and commentators have flagged the cost of SpaceX’s AI buildout and energy investments, which could pressure cash flow if revenue growth does not justify the heavy spending. Article: SpaceX’s energy investments and cash-flow risk

Analyst Ratings Changes

A number of brokerages recently commented on SPCX. Wall Street Zen upgraded SpaceX from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. HSBC reiterated a “hold” rating on shares of SpaceX in a research note on Wednesday, October 21st. Sanford C. Bernstein set a $267.00 price target on shares of SpaceX in a report on Monday, October 26th. TD Cowen increased their price objective on shares of SpaceX from $200.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, October 21st. Finally, Moffett Nathanson raised their price objective on shares of SpaceX from $131.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday, September 14th. 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 presently has a consensus rating of “Moderate Buy” and an average price target of $243.60.

About SpaceX

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.