SpaceX (NASDAQ:SPCX) Shares Up 1.5% – Here’s What Happened

SpaceX (NASDAQ:SPCX)’s stock price shot up 1.5% on Monday . The company traded as high as $144.13 and last traded at $143.69. 62,784,025 shares traded hands during trading, a decline of 41% from the average session volume of 107,315,203 shares. The stock had previously closed at $141.50.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Analyst and institutional support: Bernstein reiterated a bullish view and maintained an Outperform rating, while Morgan Stanley continues to see substantial upside. Cathie Wood’s ARK also reportedly purchased approximately $27 million of SPCX, reinforcing the stock’s appeal among growth investors. Bernstein SpaceX outlook
• Positive Sentiment: Starlink and AI growth narrative: Management’s projection that revenue could reach $3.5 trillion by 2033 is far above many current forecasts. Investors are also focused on plans for Nvidia-powered AI satellites, targeted for launch in late 2027, and Starlink’s potential to become SpaceX’s main financial engine. SpaceX revenue projection
• Positive Sentiment: Execution and expansion: SpaceX successfully launched NASA’s Nancy Grace Roman Space Telescope aboard Falcon Heavy and plans two additional California launches this week. The company is also developing a Texas foundry for gas-turbine components, potentially reducing power-equipment delays for its AI data-center ambitions. Roman telescope launch
• Neutral Sentiment: Mobile-network opportunity versus cost: Bernstein estimates a standalone SpaceX mobile network could require $50 billion to $130 billion in capital, although partnerships with existing carriers may be more likely. Satellite connectivity could complement, rather than replace, terrestrial towers because of urban bandwidth and coverage limitations. SpaceX mobile network investment
• Negative Sentiment: AI acquisition and execution risks: Reports say OpenAI plans to cut off access to its models for Cursor, the coding platform SpaceX acquired, after security concerns involving Russian hackers. Remediation costs, limited control over the underlying model, and a worsening Musk–Altman dispute could weigh on the acquisition’s value. OpenAI Cursor dispute
• Negative Sentiment: Valuation and supply concerns: Some analysts warn that the post-IPO rally may represent a speculative top, while technical commentary points to another bearish leg. The September 9 share unlock will increase the public float to about 17.7%, potentially creating selling pressure after the stock’s roughly 30% August advance. SpaceX share unlock

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SPCX. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $246.00 price target on shares of SpaceX in a report on Wednesday, August 5th. DZ Bank initiated coverage on SpaceX in a research note on Friday, August 21st. They set a “sell” rating and a $100.00 price objective for the company. Bank of America initiated coverage on SpaceX in a research report on Tuesday, July 7th. They set a “buy” rating and a $235.00 target price on the stock. Citigroup downgraded SpaceX from a “buy” rating to a “sell” rating in a report on Friday, August 7th. Finally, TD Cowen initiated coverage on SpaceX in a research report on Monday, June 22nd. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have given a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, SpaceX has a consensus rating of “Moderate Buy” and an average price target of $220.20.

SpaceX Price Performance

The firm has a market cap of $1.88 trillion and a P/E ratio of -1,597.00. The firm’s fifty day simple moving average is $137.10. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29.

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

Institutional Trading of SpaceX

Hedge funds have recently made changes to their positions in the stock. Wedbush Securities Inc. acquired a new position in shares of SpaceX in the second quarter worth $5,094,000. Hyperion Asset Management Ltd acquired a new stake in SpaceX during the second quarter valued at $201,137,000. Assenagon Asset Management S.A. purchased a new position in SpaceX in the second quarter valued at about $2,502,000. Sage Capital Advisors llc acquired a new position in SpaceX in the 2nd quarter worth about $3,254,000. Finally, Dynamic Advisor Solutions LLC purchased a new stake in shares of SpaceX during the 2nd quarter worth about $3,383,000.

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.