SpaceX (NASDAQ:SPCX) Trading Up 1.5% – Here’s Why

SpaceX (NASDAQ:SPCX)’s share price traded up 1.5% during mid-day trading on Monday . The stock traded as high as $144.13 and last traded at $143.69. 62,784,025 shares were traded during trading, a decline of 41% from the average daily volume of 107,315,203 shares. The stock had previously closed at $141.50.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: CEO Elon Musk said SpaceX is building gas-turbine parts and could accelerate turbine production by as much as 18 months. The initiative is intended to ease the power bottleneck limiting AI data-center growth and could create a new revenue opportunity while supporting SpaceX’s own computing plans. Elon Musk Says SpaceX Can Accelerate Natural Gas Turbines by 18 Months
• Positive Sentiment: Musk said companies including Google and Anthropic have sought SpaceX’s AI-computing capacity because electricity supplies are tight. SpaceX’s ability to develop its own power infrastructure may strengthen its position in the rapidly expanding AI market. Elon Musk Says Google and Anthropic Turned to SpaceX for AI Compute
• Positive Sentiment: Starlink remains SpaceX’s only profitable reported segment, generating approximately $1.66 billion in second-quarter operating profit, while overall revenue grew nearly 92% year over year. Analysts and commentators continue to point to Starlink, Starship and orbital AI as long-term growth drivers. Starlink Made SpaceX’s Only Segment Profit
• Neutral Sentiment: SpaceX gained about 32% during August, but articles comparing it with fast-growing, profitable Anthropic suggest investors are debating whether SPCX’s future potential justifies its current valuation. Anthropic is reportedly targeting the largest IPO ever, potentially competing for investor attention and capital. SpaceX vs. Anthropic: Which Is the Better IPO to Own?
• Negative Sentiment: Reports say SpaceX reassigned rocket and Starlink executives to its AI data-center operation after problems in Tennessee and Mississippi. The management overhaul and mounting delays raise concerns about execution and the timing of AI-related revenue. SpaceX Is Said to Overhaul AI Infrastructure Team
• Negative Sentiment: The AI segment reportedly absorbed approximately $15.8 billion of quarterly capital spending, or 86% of the company total, while SpaceX’s space and AI businesses together lost about $1.8 billion. Such spending increases funding and profitability risk, particularly with the stock trading at a valuation near $1.9 trillion. SpaceX Is Spending $18.4 Billion a Quarter

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. KGI Securities cut shares of SpaceX from an “outperform” rating to a “hold” rating in a report on Monday, June 22nd. Seaport Research Partners cut SpaceX from a “buy” rating to a “neutral” rating in a research report on Friday, August 7th. Susquehanna downgraded SpaceX from a “neutral” rating to an “underperform” rating in a research note on Friday, August 7th. Wall Street Zen raised SpaceX from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, William Blair reiterated an “outperform” rating on shares of SpaceX in a research note on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have given a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.20.

SpaceX Trading Down 1.0%

The stock has a market cap of $1.86 trillion and a P/E ratio of -1,580.33. The company has a 50 day simple moving average of $136.60. 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 issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.17. The firm had revenue of $7.81 billion for the quarter. The company’s revenue for the quarter was up 91.9% compared to the same quarter last year. Sell-side analysts predict that SpaceX will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On SpaceX

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wedbush Securities Inc. acquired a new stake in shares of SpaceX in the 2nd quarter valued at approximately $5,094,000. Hyperion Asset Management Ltd acquired a new position in SpaceX during the second quarter worth $201,137,000. Assenagon Asset Management S.A. purchased a new position in SpaceX in the second quarter worth $2,502,000. Sage Capital Advisors llc purchased a new position in SpaceX in the second quarter worth $3,254,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in SpaceX in the second quarter valued at $3,383,000.

SpaceX Company Profile

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.