RFG Bristol Wealth Advisors LLC Buys New Shares in SpaceX $SPCX

RFG Bristol Wealth Advisors LLC bought a new position in SpaceX (NASDAQ:SPCX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,645 shares of the company’s stock, valued at approximately $550,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SPCX. SC US Ttgp LTD. acquired a new stake in shares of SpaceX during the 2nd quarter worth approximately $20,933,621,000. Darsana Capital Partners LP acquired a new position in shares of SpaceX during the 2nd quarter valued at $17,335,783,000. K5 Global Advisor LLC bought a new position in SpaceX during the second quarter worth $6,587,531,000. State Street Corp acquired a new stake in SpaceX in the second quarter worth $1,858,329,000. Finally, Dragoneer Investment Group LLC acquired a new stake in SpaceX in the second quarter worth $1,366,880,000.

Insider Activity

In related news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction on 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 sale, the chief operating officer owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. This represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SPCX shares. Weiss Ratings initiated coverage on shares of SpaceX in a report on Tuesday, September 1st. They set a “sell (d)” rating on the stock. Oppenheimer boosted their target price on SpaceX from $250.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, September 2nd. Barclays initiated coverage on SpaceX in a research note on Thursday. They set an “overweight” rating and a $254.00 price target on the stock. Erste Group Bank started coverage on SpaceX in a report on Thursday. They issued a “hold” rating on the stock. Finally, Daiwa Securities Group assumed coverage on SpaceX in a report on Thursday, July 2nd. They set a “neutral” rating and a $175.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $219.77.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: The spectrum purchase—reported at roughly $8 billion by some outlets, although the exact price was not disclosed—could give Starlink Mobile stronger coverage indoors and in dense urban areas where satellites are less effective. The deal also positions SpaceX to compete more directly with AT&T, Verizon and T-Mobile. SpaceX’s low-band spectrum deal gives Starlink Mobile a terrestrial foothold
• Positive Sentiment: Analyst support added to the bullish reaction. Barclays initiated coverage with a Buy rating and a $254 target, while TD Cowen reaffirmed Buy with a $200 target; other analysts highlighted the hybrid satellite-and-terrestrial network strategy. Two Reasons SpaceX Stock Is Jumping Higher Today
• Positive Sentiment: The FCC’s approval of up to 15,000 next-generation Starlink satellites strengthens the company’s long-term direct-to-device opportunity. Investors are also valuing SpaceX’s reported AI-computing demand and potential Nvidia chip purchases as additional growth engines. SpaceX Gets Green Light for 15,000 Starlink Satellites
• Neutral Sentiment: The spectrum transaction remains subject to final FCC approval, and SpaceX still must invest heavily to build a terrestrial network, integrate services and attract wireless customers. The launch of Blue Origin as a future public-company competitor may also increase attention on the space sector. SpaceX Makes Big Play to Become a Wireless Carrier
• Negative Sentiment: Up to approximately $51 billion of insider shares became eligible for sale, creating a potential supply overhang and volatility risk after the recent rally. SpaceX Insider Shares Unlock
• Negative Sentiment: Reports that SpaceX may borrow $40 billion to purchase Nvidia chips continue to raise concerns about leverage, execution and the risk of spending aggressively on an unproven AI infrastructure business despite its substantial cash holdings. SpaceX in Talks to Raise $40 Billion in Loans

SpaceX Trading Up 1.2%

NASDAQ SPCX traded up $2.00 during trading hours on Friday, hitting $162.57. The company’s stock had a trading volume of 92,626,626 shares, compared to its average volume of 102,444,141. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The stock has a market capitalization of $2.14 trillion and a P/E ratio of -1,806.33. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. The company’s 50-day moving average price is $145.03.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.17. The company had revenue of $7.81 billion for the quarter. SpaceX’s revenue for the quarter was up 91.9% compared to the same quarter last year. Research analysts anticipate that SpaceX will post 0.09 EPS for the current fiscal year.

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 designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.