Claro Advisors Inc. lifted its position in SpaceX (NASDAQ:SPCX – Free Report) by 134.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,734 shares of the company’s stock after acquiring an additional 8,460 shares during the period. Claro Advisors Inc.’s holdings in SpaceX were worth $2,223,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. SC US Ttgp LTD. bought a new stake in SpaceX in the second quarter valued at approximately $20,933,621,000. Darsana Capital Partners LP bought a new position in shares of SpaceX during the second quarter worth $17,335,783,000. K5 Global Advisor LLC acquired a new position in shares of SpaceX in the 2nd quarter valued at $6,587,531,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of SpaceX in the 3rd quarter valued at $4,224,143,000. Finally, Thrive Capital Management LLC bought a new stake in shares of SpaceX in the 2nd quarter valued at $3,231,681,000.
Insider Activity
In related news, COO Gwynne Shotwell sold 342,170 shares of SpaceX stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total value of $52,547,046.90. Following the sale, the chief operating officer owned 2,472,035 shares of the company’s stock, valued at approximately $379,630,414.95. This trade represents a 12.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Wall Street Analysts Forecast Growth
SPCX has been the topic of several research analyst reports. Argus raised SpaceX from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Friday, August 7th. DZ Bank assumed coverage on SpaceX in a research note on Friday, August 21st. They issued a “sell” rating and a $100.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $250.00 price target on shares of SpaceX in a report on Wednesday, October 21st. TD Cowen raised their price target on SpaceX from $200.00 to $224.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. Finally, UBS Group reiterated an “overweight” rating and set a $300.00 price objective on shares of SpaceX in a report on Wednesday, October 21st. Four 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $243.60.
SpaceX Stock Down 9.0%
SpaceX stock opened at $123.62 on Friday. The firm has a 50 day moving average of $149.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00. SpaceX has a twelve month low of $104.83 and a twelve month high of $225.64. The firm has a market capitalization of $1.68 trillion and a PE ratio of 475.46.
SpaceX (NASDAQ:SPCX – Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.25. The business 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 revenue was up 161.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.36) earnings per share. Equities analysts anticipate that SpaceX will post 0.19 EPS for the current fiscal year.
SpaceX News Roundup
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 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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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