SpaceX (NASDAQ:SPCX) Shares Down 5.4% – Should You Sell?

Shares of SpaceX (NASDAQ:SPCX) fell 5.4% during trading on Friday . The company traded as low as $122.12 and last traded at $123.99. Approximately 83,019,215 shares changed hands during trading, a decline of 30% from the average daily volume of 118,312,156 shares. The stock had previously closed at $131.11.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX is reportedly in talks to provide computing power for the Pentagon’s AI push, a deal that could be worth several billion dollars and would strengthen the company’s emerging AI/infrastructure narrative. SpaceX in Talks to Provide Computing Power for Pentagon’s AI Push
• Positive Sentiment: Some analysts and investors still view the pullback as a buying opportunity, arguing SpaceX’s AI, Starlink, and launch businesses could support longer-term growth if execution improves. Why SpaceX Stock Dropped on Friday
• Neutral Sentiment: Wall Street commentary remains mixed, with some firms maintaining neutral or hold-type views even as they acknowledge SpaceX’s long-term potential. SpaceX Stock Price Forecast — What Technical Analysis Says Right Now (July 17, 2026)
• Negative Sentiment: SpaceX’s Starship Flight 13 was aborted moments before liftoff because of engine ignition issues, renewing concerns about execution risk and weighing on investor confidence. SpaceX Starship rocket aborts before liftoff in 13th flight test attempt
• Negative Sentiment: The failed launch added to an already sharp post-IPO selloff, with shares falling below the $135 IPO price and hitting new lows as bearish sentiment and short interest increased. Short sellers rack up $8.7 bln profit as SpaceX slips below IPO price -Ortex
• Negative Sentiment: Several reports also highlighted that short sellers are piling in, with roughly 29% of the tradable float reportedly sold short, reinforcing downward pressure on SPCX. Short sellers load up against SpaceX as stock retreats back to IPO price

Wall Street Analyst Weigh In

SPCX has been the topic of a number of recent analyst reports. Argus began coverage on shares of SpaceX in a report on Friday, June 26th. They set a “hold” rating on the stock. Benchmark started coverage on shares of SpaceX in a research report on Monday, June 22nd. They set a “buy” rating on the stock. Cfra assumed coverage on shares of SpaceX in a research note on Friday, June 12th. They set a “sell” rating and a $115.00 target price on the stock. Seaport Research Partners upgraded SpaceX to a “buy” rating in a report on Monday, June 22nd. Finally, Zacks Research raised SpaceX to a “hold” rating in a research report on Monday, June 15th. Four research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $234.78.

SpaceX Stock Down 5.4%

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.27) EPS for the quarter. The company had revenue of $4.69 billion for the quarter.

Hedge Funds Weigh In On SpaceX

Hedge funds have recently modified their holdings of the stock. Hyperion Asset Management Ltd purchased a new stake in shares of SpaceX during the second quarter worth $201,137,000. Tema ETFs LLC purchased a new position in SpaceX in the second quarter valued at about $32,037,000. Teamwork Financial Advisors LLC purchased a new position in SpaceX in the second quarter valued at about $8,027,000. Heck Capital Advisors LLC acquired a new position in SpaceX in the 2nd quarter worth about $3,768,000. Finally, Dynamic Advisor Solutions LLC purchased a new stake in shares of SpaceX during the 2nd quarter worth about $3,383,000.

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.