Csenge Advisory Group Buys 35,235 Shares of SpaceX $SPCX

Csenge Advisory Group raised its stake in SpaceX (NASDAQ:SPCX) by 817.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,546 shares of the company’s stock after buying an additional 35,235 shares during the quarter. Csenge Advisory Group’s holdings in SpaceX were worth $5,966,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Gables Capital Management Inc. lifted its holdings in shares of SpaceX by 78.2% in the 3rd quarter. Gables Capital Management Inc. now owns 12,328 shares of the company’s stock worth $1,860,000 after acquiring an additional 5,408 shares during the last quarter. D Orazio & Associates Inc. purchased a new position in shares of SpaceX during the 3rd quarter worth approximately $24,702,000. Marathon Wealth Advisors LLC purchased a new position in shares of SpaceX during the 3rd quarter worth approximately $231,000. Account Management LLC purchased a new position in shares of SpaceX during the 3rd quarter worth approximately $1,343,000. Finally, 71 West Capital Partners acquired a new stake in SpaceX in the 3rd quarter valued at approximately $1,765,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SPCX. Argus raised SpaceX from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Friday, August 7th. JPMorgan Chase & Co. raised their price target on SpaceX from $240.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 21st. Seaport Research Partners cut SpaceX from a “buy” rating to a “neutral” rating in a research note on Friday, August 7th. CLSA began coverage on SpaceX in a research note on Monday, September 28th. They issued an “outperform” rating and a $250.00 price objective for the company. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $245.00 price objective on shares of SpaceX in a report on Wednesday, October 21st. Four analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.60.

SpaceX Stock Performance

NASDAQ SPCX opened at $143.09 on Wednesday. The company has a 50 day simple moving average of $149.18. The company has a current ratio of 3.08, a quick ratio of 3.00 and a debt-to-equity ratio of 0.20. SpaceX has a one year low of $104.83 and a one year high of $225.64. The stock has a market capitalization of $1.94 trillion and a price-to-earnings ratio of 550.35.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.25. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The firm had revenue of $14.57 billion during the quarter. During the same quarter last year, the firm posted ($0.36) EPS. The company’s revenue for the quarter was up 161.4% on a year-over-year basis. Equities analysts predict that SpaceX will post 0.19 EPS for the current fiscal year.

Insider Transactions at SpaceX

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer owned 2,472,035 shares of the company’s stock, valued at $379,630,414.95. This trade represents a 12.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX will compete for up to $10 billion in NASA lunar-base contracts, adding a potential source of business beyond launches and satellite services. The contracts have not yet been awarded. Article: SpaceX to compete for NASA lunar-base contracts
• Positive Sentiment: SpaceX’s AI-computing plans are attracting investor and analyst attention. Deutsche Bank sees tighter data-center rules potentially benefiting the company by limiting available computing capacity and supporting higher prices; reported AI-computing arrangements could also create a new revenue stream. Article: Deutsche Bank on SpaceX and data-center rules
• Neutral Sentiment: The proposed $24 billion Starbase data center and gas-fired power plant could expand SpaceX’s AI capacity and provide dedicated energy, but it remains a plan rather than an operating asset. Article: SpaceX plans a Starbase data center and gas plant
• Negative Sentiment: The Texas project faces policy uncertainty: Governor-elect Gina Hinojosa has supported pausing new hyperscale data centers, and SpaceX is seeking tax breaks. Delays or restrictions could impede the expansion. Article: Texas AI project faces policy hurdles
• Negative Sentiment: Analysts and commentators have flagged the cost of SpaceX’s AI buildout and energy investments, which could pressure cash flow if revenue growth does not justify the heavy spending. Article: SpaceX’s energy investments and cash-flow risk

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.