VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in SpaceX $SPCX

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of SpaceX (NASDAQ:SPCX) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 50,000 shares of the company’s stock, valued at approximately $8,543,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Syntax Research Inc. purchased a new stake in SpaceX in the second quarter valued at approximately $26,000. Atwood & Palmer Inc. bought a new stake in SpaceX during the second quarter valued at approximately $29,000. PayPay Securities Corp purchased a new position in SpaceX in the 2nd quarter worth approximately $30,000. Marquette Asset Management LLC bought a new position in shares of SpaceX in the 2nd quarter worth $32,000. Finally, POM Investment Strategies LLC bought a new position in shares of SpaceX in the 2nd quarter worth $39,000.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: New Buy rating and $220 target: Pivotal Research initiated coverage with a Buy rating and a $220 price target, implying substantial upside. The firm’s thesis depends heavily on SpaceX successfully developing a reusable Starship system, which could expand launch capacity and support Starlink growth. CNBC analyst coverage article
• Positive Sentiment: Possible $15.5 billion of passive demand: JPMorgan estimates a Nasdaq-100 rebalance could significantly increase SpaceX’s index weighting, potentially forcing roughly $15.5 billion of buying from passive funds. This prospect is supporting sentiment despite the stock’s recent volatility. Benzinga Nasdaq rebalance article
• Positive Sentiment: Strong operating momentum: SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, and beat the consensus earnings estimate. Analysts also point to Starlink’s potential to address a large terrestrial and wireless connectivity market. Seeking Alpha analyst outlook
• Neutral Sentiment: Share unlocks have not yet triggered major selling: SpaceX has absorbed two prior insider share unlocks relatively well, but approximately 319 million additional shares are scheduled to become eligible for sale on September 9. The market is watching whether this third unlock produces heavier supply. Benzinga share unlock article
• Negative Sentiment: Execution and valuation risks remain high: Analysts say the bull case rests “almost entirely” on Starship reusability. Failure to scale the rocket could materially reduce SpaceX’s future growth prospects, while its roughly $2 trillion valuation appears aggressive relative to projected 2026 revenue. MarketWatch Starship analysis
• Negative Sentiment: Competitive and capital-spending pressure: The Exploration Company raised $450 million to challenge SpaceX, while SpaceX is expected to face a significant 2027 capital-expenditure increase. These factors could pressure returns if Starship and other new initiatives require substantial funding before generating cash flow. TechCrunch competitor funding article

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of SpaceX in a report on Wednesday, August 26th. Moffett Nathanson started coverage on SpaceX in a research report on Tuesday, July 7th. They set a “neutral” rating and a $131.00 price target on the stock. Canaccord Genuity Group assumed coverage on SpaceX in a research note on Tuesday, July 7th. They set a “buy” rating and a $246.00 price target for the company. Barclays upgraded SpaceX from an “underweight” rating to an “overweight” rating in a report on Monday, June 22nd. Finally, HSBC assumed coverage on SpaceX in a research report on Thursday, July 23rd. They set a “hold” rating and a $115.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have assigned a Hold rating and seven have given a Sell rating to the company’s stock. Based on data from MarketBeat, SpaceX has an average rating of “Moderate Buy” and an average price target of $221.06.

SpaceX Stock Performance

Shares of SPCX stock opened at $153.47 on Wednesday. The company has a market capitalization of $2.01 trillion and a P/E ratio of -1,705.22. SpaceX has a fifty-two week low of $104.83 and a fifty-two week high of $225.64. The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average of $135.48.

SpaceX (NASDAQ:SPCX) last issued its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.17. The firm had revenue of $7.81 billion during the quarter. The company’s revenue was up 91.9% on a year-over-year basis. As a group, equities analysts predict that SpaceX will post -0.15 earnings per share for the current year.

SpaceX Profile

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, serving commercial, government and scientific customers.

SpaceX’s principal products include the Falcon 9 and Falcon Heavy rockets, which are used to launch satellites, spacecraft and other payloads into orbit. The company also develops the Dragon spacecraft, which supports cargo and crew missions to low Earth orbit, including missions for NASA and other customers.

Through its Starlink business, SpaceX operates a large constellation of low Earth orbit satellites that provides broadband internet service to customers in numerous countries and regions.