SpaceX (NASDAQ:SPCX) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of SpaceX (NASDAQ:SPCX) from a hold rating to a sell rating in a research note published on Saturday morning.

SPCX has been the topic of several other research reports. Needham & Company LLC increased their target price on shares of SpaceX from $200.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Evercore assumed coverage on shares of SpaceX in a research note on Tuesday, July 14th. They set an “outperform” rating and a $230.00 price target for the company. Wedbush initiated coverage on shares of SpaceX in a report on Tuesday, June 30th. They set an “outperform” rating and a $190.00 price target on the stock. Argus assumed coverage on shares of SpaceX in a research note on Friday, June 26th. They issued a “hold” rating for the company. Finally, Piper Sandler assumed coverage on SpaceX in a research report on Wednesday, July 15th. They set a “neutral” rating and a $156.00 target price for the company. Four equities research 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $230.50.

SpaceX Stock Down 1.4%

Shares of SpaceX stock opened at $113.50 on Friday. SpaceX has a one year low of $108.66 and a one year high of $225.64.

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

Institutional Trading of SpaceX

A number of large investors have recently modified their holdings of SPCX. Hyperion Asset Management Ltd bought a new position in SpaceX in the second quarter worth approximately $201,137,000. Tema ETFs LLC bought a new stake in SpaceX during the 2nd quarter valued at $32,037,000. Teamwork Financial Advisors LLC purchased a new stake in shares of SpaceX in the 2nd quarter worth $8,027,000. Heck Capital Advisors LLC bought a new position in shares of SpaceX during the 2nd quarter worth $3,768,000. Finally, Dynamic Advisor Solutions LLC purchased a new position in shares of SpaceX during the second quarter valued at $3,383,000.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX’s 13th Starship test flight was described as largely successful, with Elon Musk saying the vehicle was intentionally launched at higher acceleration to test its heat shield. The flight supports the company’s long-term launch and Mars ambitions. Elon Musk Touts Successful Starship Test
• Positive Sentiment: SpaceX is participating in a new open AI-security alliance led by Nvidia, Microsoft and other technology companies, potentially strengthening its position in AI-related infrastructure and defense applications. Nvidia, SpaceX, Microsoft Launch AI Safety Initiative
• Positive Sentiment: ARK Invest bought approximately $21.3 million of SpaceX shares, while index and total-market ETFs are expected to continue purchasing as more shares become available. These flows offer potential support, although they may not offset insider selling. Cathie Wood’s ARK Bought SpaceX Stock
• Neutral Sentiment: SpaceX will report its first results as a public company on Aug. 4. Investors are looking for revenue growth, operating losses, capital spending and financing plans; the report could either clarify the investment case or intensify volatility.
• Negative Sentiment: The most immediate concern is the Aug. 6 lock-up expiration, when early investors could sell nearly 1 billion shares—potentially far more stock than was offered in the IPO. Markets are pricing in a substantial increase in supply. SpaceX Lock-Up Expiration and AI Valuation
• Negative Sentiment: HSBC initiated coverage with a Hold rating and a $115 price target, below SpaceX’s $135 IPO price. Analysts remain concerned that the company’s ambitious expansion and AI strategy could require substantial cash investment. HSBC Starts SpaceX Coverage
• Negative Sentiment: Amazon’s planned 5,105-satellite mobile network could increase competition for Starlink, adding another long-term risk to SpaceX’s satellite communications growth outlook. Amazon’s New Satellite Network

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.