Canvas Wealth Advisors LLC Purchases Shares of 15,204 SpaceX $SPCX

Canvas Wealth Advisors LLC purchased a new stake in SpaceX (NASDAQ:SPCX) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 15,204 shares of the company’s stock, valued at approximately $2,598,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Teamwork Financial Advisors LLC acquired a new stake in shares of SpaceX during the second quarter worth $8,027,000. Dynamic Advisor Solutions LLC acquired a new position in SpaceX in the 2nd quarter worth $3,383,000. Sage Capital Advisors llc bought a new position in SpaceX during the 2nd quarter worth about $3,254,000. Castle Rock Wealth Management LLC acquired a new stake in shares of SpaceX in the 2nd quarter valued at about $2,310,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of SpaceX in the second quarter valued at about $2,502,000.

SpaceX Stock Down 3.9%

NASDAQ:SPCX opened at $133.29 on Wednesday. SpaceX has a 52-week low of $104.83 and a 52-week high of $225.64. 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 firm has a 50-day moving average of $143.01.

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

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Morgan Stanley maintained a $300 price target and outlined a $600 bull case if investors gain confidence in SpaceX’s AI strategy, including the planned Cursor acquisition and Grok-related opportunities. The valuation depends on substantial future AI revenue, making the target highly assumption-driven. Morgan Stanley $600 SpaceX price target
• Positive Sentiment: SpaceX reportedly secured approximately $8.1 billion in U.S. Space Force awards, including satellite-building, military data-network, and Falcon 9 launch contracts. The awards strengthen revenue visibility and expand the company’s defense footprint. SpaceX Space Force awards
• Positive Sentiment: A new 2027 launch agreement with Vietnam’s VinSpace adds an international customer and supports continued demand for SpaceX’s launch services. Vietnam launch contract
• Neutral Sentiment: Reported short interest was zero shares, suggesting the latest pullback was not driven by a large disclosed short position. The figure may reflect incomplete or unreliable data rather than an absence of bearish positioning.
• Negative Sentiment: Shares pulled back after rallying above the $135 IPO price, with coverage citing profit-taking, a broader risk-off market, and investor focus on a Falcon 9 launch. A launch scrub and the operational risks surrounding Starship add near-term volatility. Why SpaceX stock is pulling back
• Negative Sentiment: Investors remain concerned that SpaceX’s ambitious AI and infrastructure initiatives require heavy capital spending. Recent earnings showed revenue growth of 91.9% to $7.81 billion, but the company still reported a quarterly loss, while valuation screens suggest the stock already prices in significant future success. Retail investors also became net sellers for the first time since the IPO. SpaceX valuation and Morgan Stanley bull case

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SPCX shares. Wedbush assumed coverage on SpaceX in a report on Tuesday, June 30th. They set an “outperform” rating and a $190.00 price objective for the company. Wall Street Zen upgraded SpaceX from a “sell” rating to a “hold” rating in a research note on Saturday. HSBC assumed coverage on SpaceX in a research report on Thursday, July 23rd. They set a “hold” rating and a $115.00 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of SpaceX in a report on Tuesday, July 7th. They issued a “buy” rating and a $255.00 price objective on the stock. Finally, UBS Group reissued a “buy” rating on shares of SpaceX in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $229.00.

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.