Alta Advisers Ltd purchased a new position in SpaceX (NASDAQ:SPCX – Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,093 shares of the company’s stock, valued at approximately $1,372,000.
Several other institutional investors have also recently made changes to their positions in the stock. Pekin Hardy Strauss Inc. grew its stake in shares of SpaceX by 41.5% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 2,016 shares of the company’s stock valued at $304,000 after acquiring an additional 591 shares during the period. Westside Investment Management Inc. increased its holdings in SpaceX by 106.1% in the 3rd quarter. Westside Investment Management Inc. now owns 4,606 shares of the company’s stock worth $708,000 after acquiring an additional 2,371 shares in the last quarter. Principle Wealth Partners LLC raised its stake in SpaceX by 93.0% during the 3rd quarter. Principle Wealth Partners LLC now owns 42,499 shares of the company’s stock worth $6,411,000 after acquiring an additional 20,483 shares during the period. Horizon Wealth Management LLC raised its stake in SpaceX by 2.2% during the 3rd quarter. Horizon Wealth Management LLC now owns 15,286 shares of the company’s stock worth $2,306,000 after acquiring an additional 336 shares during the period. Finally, Kestra Advisory Services LLC lifted its holdings in SpaceX by 120.7% during the third quarter. Kestra Advisory Services LLC now owns 224,520 shares of the company’s stock valued at $33,871,000 after purchasing an additional 122,773 shares in the last quarter.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Weiss Ratings initiated coverage on shares of SpaceX in a research report on Tuesday, September 1st. They issued a “sell (d)” rating for the company. Sanford C. Bernstein set a $267.00 price objective on shares of SpaceX in a research report on Monday, October 26th. JPMorgan Chase & Co. lifted their target price on shares of SpaceX from $240.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 21st. DZ Bank assumed coverage on shares of SpaceX in a research note on Friday, August 21st. They set a “sell” rating and a $100.00 target price on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $245.00 target price on shares of SpaceX in a report on Wednesday, October 21st. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $243.60.
Get Our Latest Research Report on SpaceX
Key Stories Impacting SpaceX
Here are the key news stories impacting SpaceX this week:
- Positive Sentiment: Starlink Mobile gains a major technology partner. SpaceX selected Qualcomm to supply 5G infrastructure technology for its planned U.S. wireless network, supporting its effort to expand beyond satellite connectivity and compete with established carriers. Article: SpaceX signs deal with Qualcomm to provide network technology for U.S. mobile service
- Positive Sentiment: Analyst coverage offers a counterpoint to the selloff. China Renaissance initiated coverage with a Buy rating and a $194.20 price target, while a separate valuation update cited potential upside from AI and Starlink growth. These are analyst views, not assurances of future performance. Article: SpaceX Stock Today Has These 2 Positives. The Stock Is Still Falling.
- Neutral Sentiment: A proposed change to U.S. launch rules could benefit SpaceX. The proposal may create a more favorable operating environment, but its eventual impact depends on the final rules and implementation. Article: US proposes space launch rule changes in potential boost for SpaceX
- Negative Sentiment: Election results have raised political and regulatory uncertainty. With Democrats controlling Congress and Texas turning blue, investors fear tougher scrutiny and permitting hurdles for AI data centers, as well as obstacles to SpaceX’s expansion and a potential Tesla merger. Article: SpaceX, Tesla extend losses as midterm results cloud data center, merger outlook
- Negative Sentiment: AI exposure and funding needs are weighing on sentiment. The broader AI-stock retreat is hitting SpaceX as investors question the cost and returns of its large computing buildout. Reports that debt-default insurance costs reached a record high add to concerns about perceived credit risk and financing. Article: Elon Musk’s SpaceX Default Risk Hits Record High as Democratic Sweep Adds to AI Rout
SpaceX Stock Performance
SPCX stock opened at $123.62 on Friday. The company has a quick ratio of 3.00, a current ratio of 3.08 and a debt-to-equity ratio of 0.20. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64. The business has a 50 day simple moving average of $149.32.
SpaceX (NASDAQ:SPCX – Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.25. The firm had revenue of $14.57 billion for the quarter. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The company’s quarterly revenue was up 161.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.36) EPS. Equities analysts predict that SpaceX will post 0.19 EPS for the current year.
Insider Activity at SpaceX
In other news, COO Gwynne Shotwell sold 342,170 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the completion of the transaction, the chief operating officer owned 2,472,035 shares in the company, valued at $379,630,414.95. This trade represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
SpaceX Profile
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.
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