SpaceX (NASDAQ:SPCX) Trading Up 3.7% – Should You Buy?

SpaceX (NASDAQ:SPCX) shares traded up 3.7% on Tuesday . The company traded as high as $155.00 and last traded at $153.47. 85,219,103 shares were traded during mid-day trading, a decline of 18% from the average session volume of 104,381,898 shares. The stock had previously closed at $147.95.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX successfully launched a Falcon 9 carrying a U.S. Space Force payload from California, reinforcing its launch reliability and government-contracting position. SpaceX launches Space Force mission
• Positive Sentiment: The United Kingdom is reportedly spending nearly $40 million on SpaceX Starshield satellite services, providing evidence of international demand for the company’s secure communications products. Britain spends nearly $40 million on satellite services
• Positive Sentiment: Starlink introduced a fourth-generation router featuring Wi-Fi 7, broader coverage and support for more connected devices. The upgrade could help customer adoption and revenue growth. Starlink unveils fourth-generation router
• Positive Sentiment: Institutional interest remains supportive: Dan Loeb’s Third Point disclosed a purchase of 180,415 SpaceX shares, while analysts at Pivotal Research initiated coverage with a Buy rating and a $220 price target. Billionaire investor added SpaceX shares
• Neutral Sentiment: Reports say SpaceX may slow or redesign its AI data-center expansion. Lower near-term spending could improve execution and capital discipline, but it may also delay expected AI-related revenue growth. SpaceX may slow data-center expansion
• Negative Sentiment: Another post-IPO lockup tranche reportedly made approximately 59 million shares eligible for trading, adding potential supply after the much larger 319-million-share unlock pressured SPCX recently. SpaceX lockup shares become eligible for trading
• Negative Sentiment: SpaceX faces criticism over transparency and has sued to block release of tax-break records tied to its Texas Terafab project, creating reputational and regulatory risk. SpaceX sues over Texas Terafab tax-break records
• Negative Sentiment: Some coverage highlights lost market share, execution problems at rapidly built AI data centers and a Wells Fargo reduction in expectations, while one analyst downgraded the stock. These concerns are especially significant given SPCX’s very high valuation.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SPCX shares. Wolfe Research reaffirmed an “outperform” rating and issued a $175.00 price target on shares of SpaceX in a report on Wednesday, August 26th. DZ Bank started coverage on SpaceX in a research note on Friday, August 21st. They set a “sell” rating and a $100.00 price objective on the stock. Sanford C. Bernstein restated an “outperform” rating on shares of SpaceX in a report on Monday, August 31st. Argus raised SpaceX from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Friday, August 7th. Finally, Morgan Stanley reissued an “overweight” rating on shares of SpaceX in a research report on Wednesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have assigned a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $221.06.

SpaceX Price Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12. The stock has a 50 day moving average price of $135.28. The company has a market capitalization of $1.94 trillion and a P/E ratio of -1,641.50.

SpaceX (NASDAQ:SPCX) last released its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.17. The business had revenue of $7.81 billion for the quarter. The company’s revenue for the quarter was up 91.9% compared to the same quarter last year. Sell-side analysts expect that SpaceX will post -0.15 EPS for the current fiscal year.

Institutional Trading of SpaceX

A number of institutional investors have recently modified their holdings of SPCX. Syntax Research Inc. acquired a new position in SpaceX during the second quarter worth $26,000. Atwood & Palmer Inc. acquired a new position in shares of SpaceX during the 2nd quarter valued at about $29,000. PayPay Securities Corp acquired a new position in shares of SpaceX in the 2nd quarter valued at $30,000. Marquette Asset Management LLC purchased a new position in shares of SpaceX in the 2nd quarter worth about $32,000. Finally, Community Bank N.A. acquired a new position in shares of SpaceX during the 2nd quarter valued at $38,000.

About SpaceX

Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems, serving commercial, government and scientific customers.

SpaceX’s principal products include the Falcon 9 and Falcon Heavy rockets, which are used to launch satellites, spacecraft and other payloads into orbit. The company also develops the Dragon spacecraft, which supports cargo and crew missions to low Earth orbit, including missions for NASA and other customers.

Through its Starlink business, SpaceX operates a large constellation of low Earth orbit satellites that provides broadband internet service to customers in numerous countries and regions.