SpaceX (NASDAQ:SPCX) Shares Gap Down – Should You Sell?

SpaceX (NASDAQ:SPCX) shares gapped down before the market opened on Monday . The stock had previously closed at $185.00, but opened at $176.04. SpaceX shares last traded at $170.8740, with a volume of 25,750,572 shares traded.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX signed a major computing-power deal with Reflection AI worth up to $6.3 billion, reinforcing the company’s AI infrastructure growth narrative. Article Title
• Positive Sentiment: KeyBanc initiated coverage on SpaceX, and some analysts still point to strong growth drivers like Starlink profitability and disruptive AI-related opportunities. Article Title
• Neutral Sentiment: Investor interest remains intense after the record IPO, with trading volumes, ETF launches, and broad market commentary showing that SpaceX is still one of the most closely watched new listings. Article Title
• Neutral Sentiment: SpaceX also disclosed a large cash balance, which helps support the idea that management has flexibility even as it taps debt markets. Article Title
• Negative Sentiment: MSCI gave SpaceX its lowest ESG/governance rating, adding to concerns about corporate governance and controversy around the newly public company. Article Title
• Negative Sentiment: Wall Street research and commentary are increasingly skeptical of SpaceX’s valuation after the IPO rally, with several pieces warning that the stock may have run too far, too fast. Article Title
• Negative Sentiment: Morningstar and other skeptics have argued the shares could be worth far less than their IPO-era valuation, reinforcing fears that the post-debut momentum is fading. Article Title

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Cfra assumed coverage on SpaceX in a report on Friday, June 12th. They issued a “sell” rating and a $115.00 price target for the company. Seaport Research Partners raised shares of SpaceX to a “buy” rating in a research report on Monday. TD Cowen assumed coverage on shares of SpaceX in a research note on Monday. They issued a “buy” rating for the company. Roth Mkm raised shares of SpaceX to a “buy” rating in a report on Monday. Finally, New Street Research upgraded shares of SpaceX to a “strong-buy” rating in a report on Thursday, June 11th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $221.20.

SpaceX Stock Performance

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

Insiders Place Their Bets

In other SpaceX news, CEO Elon Musk sold 11,390 shares of the firm’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $105.32, for a total transaction of $1,199,594.80. Following the completion of the transaction, the chief executive officer directly owned 526,165,900 shares of the company’s stock, valued at $55,415,792,588. This trade represents a 0.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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.