SpaceX $SPCX Stock: Accel Wealth Management Raises Holdings

Accel Wealth Management grew its holdings in shares of SpaceX (NASDAQ:SPCX) by 515.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,294 shares of the company’s stock after purchasing an additional 6,108 shares during the quarter. Accel Wealth Management’s holdings in SpaceX were worth $1,100,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Catalyst Private Wealth LLC acquired a new position in SpaceX in the third quarter valued at $2,118,000. Downshift Financial LLC lifted its position in SpaceX by 25.7% during the third quarter. Downshift Financial LLC now owns 553 shares of the company’s stock worth $83,000 after buying an additional 113 shares during the period. Ring Mountain Capital LLC boosted its stake in SpaceX by 27.2% in the 3rd quarter. Ring Mountain Capital LLC now owns 5,803 shares of the company’s stock worth $875,000 after buying an additional 1,242 shares during the last quarter. Compass Financial Group INC SD acquired a new stake in SpaceX in the 3rd quarter worth about $492,000. Finally, Worthington Financial Partners LLC grew its holdings in SpaceX by 3.0% in the 3rd quarter. Worthington Financial Partners LLC now owns 4,883 shares of the company’s stock valued at $737,000 after buying an additional 142 shares during the period.

Insider Activity

In other news, COO Gwynne Shotwell sold 342,170 shares of the stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total value of $52,547,046.90. Following the completion of the sale, the chief operating officer owned 2,472,035 shares of the company’s stock, valued at $379,630,414.95. This represents a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of SpaceX in a research note on Monday, September 28th. Erste Group Bank started coverage on shares of SpaceX in a research report on Thursday, October 8th. They issued a “hold” rating on the stock. Phillip Securities upgraded shares of SpaceX to a “strong sell” rating and set a $75.00 target price for the company in a report on Friday, July 31st. William Blair reaffirmed an “outperform” rating on shares of SpaceX in a research report on Friday. Finally, Evercore assumed coverage on shares of SpaceX in a research report on Tuesday, July 14th. They set an “outperform” rating and a $230.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, SpaceX currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.06.

SpaceX Stock Performance

SPCX traded down $6.88 on Tuesday, reaching $156.54. 68,680,166 shares of the company’s stock were exchanged, compared to its average volume of 101,630,234. The company’s 50 day simple moving average is $146.63. The company has a market capitalization of $2.06 trillion and a P/E ratio of -1,739.33. SpaceX has a twelve month low of $104.83 and a twelve month high of $225.64. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29.

SpaceX (NASDAQ:SPCX) last posted 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 business had revenue of $7.81 billion during the quarter. The business’s revenue for the quarter was up 91.9% on a year-over-year basis. Sell-side analysts forecast that SpaceX will post 0.09 EPS for the current year.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX successfully launched a Falcon 9 mission carrying approximately 6,300 pounds of cargo to the International Space Station, reinforcing the company’s operational reliability and commercial launch capabilities. SpaceX successfully launches cargo to the International Space Station
• Positive Sentiment: Analysts continue to point to Starlink growth, the planned Starship program and SpaceX’s wireless ambitions as significant long-term catalysts. Some firms maintain Buy or Overweight ratings, with price targets above the current market level. Morgan Stanley on Starship as a catalyst
• Neutral Sentiment: SpaceX is seeking approval for as many as 456 Starship launches annually, a dramatic increase from its current flight cadence. The proposal highlights substantial future capacity, but execution, regulatory approval and infrastructure requirements remain uncertain. SpaceX seeks approval for 456 annual Starship launches
• Negative Sentiment: The most immediate concern is SpaceX’s proposed $40 billion debt raise to fund Nvidia chips and its AI build-out. Reports indicate that cash consumption could accelerate, while rising costs to insure SpaceX’s debt suggest bond investors are becoming more concerned about leverage and default risk. Bond investors wary of SpaceX borrowing
• Negative Sentiment: SpaceX also agreed to testify before the New York City Council after receiving a subpoena related to AI safety. Although no violation was established in the reports, the public investigation adds regulatory and reputational risk as the company expands its AI operations. SpaceX to testify before NYC Council on AI safety
• Negative Sentiment: Analyst commentary has raised concerns that SpaceX’s wireless push and spectrum acquisition could require significant investment before generating returns. Skepticism over valuation and the ability to compete with established telecom networks is adding pressure to the stock. Wall Street skepticism over SpaceX wireless expansion

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.