Waverly Advisors LLC Invests $4.50 Million in SpaceX $SPCX

Waverly Advisors LLC bought a new stake in shares of SpaceX (NASDAQ:SPCX) during the second quarter, Holdings Channel.com reports. The fund bought 26,310 shares of the company’s stock, valued at approximately $4,495,000.

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

Analysts Set New Price Targets

Several brokerages recently weighed in on SPCX. JPMorgan Chase & Co. assumed coverage on SpaceX in a research note on Tuesday, July 7th. They issued an “overweight” rating and a $225.00 price target on the stock. Mizuho began coverage on SpaceX in a research report on Tuesday, July 7th. They set an “outperform” rating and a $200.00 price objective for the company. New Street Research raised shares of SpaceX to a “strong-buy” rating in a research report on Thursday, June 11th. Wells Fargo & Company decreased their price target on shares of SpaceX from $215.00 to $212.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, KeyCorp reissued a “sector weight” rating on shares of SpaceX in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have issued a Hold rating and seven have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $221.06.

SpaceX Stock Up 0.4%

SPCX stock opened at $148.18 on Friday. The company’s 50 day moving average is $135.01. The company has a market cap of $1.94 trillion and a price-to-earnings ratio of -1,646.44. 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 released its earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.17. The company had revenue of $7.81 billion during the quarter. The business’s quarterly revenue was up 91.9% compared to the same quarter last year. On average, research analysts expect that SpaceX will post -0.15 earnings per share for the current fiscal year.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: UK Starshield contract: Britain is reportedly spending nearly $40 million on SpaceX satellite services, providing validation for the Starshield defense business and a potential source of recurring international revenue. SpaceX Stock Rises as Britain Spends Nearly $40M on Satellite Services
• Positive Sentiment: Successful government launch: SpaceX launched a U.S. Space Force mission from California, reinforcing its launch reliability and defense-contract credentials. SpaceX Launches Space Force Mission in California
• Positive Sentiment: Starlink product upgrade: A fourth-generation router featuring Wi-Fi 7, broader coverage and support for more connected devices could improve Starlink’s consumer competitiveness and average revenue per user. SpaceX Gives Starlink a Major Wi-Fi Upgrade
• Positive Sentiment: Analyst and institutional support: Pivotal Research initiated coverage with a Buy rating and a $220 target, while Third Point reported acquiring roughly $31 million of SpaceX shares after the IPO. Billionaire Investor Added SpaceX to His Portfolio
• Neutral Sentiment: Data-center strategy shift: Reports that SpaceX may slow or redesign its AI data-center expansion could reduce near-term spending and execution risk, but may also delay projected AI revenue growth. SpaceX Shifting Gears With Data Center Buildout
• Negative Sentiment: Valuation remains a concern: Commentary highlighting a valuation near 98 times sales and recent analyst caution is limiting enthusiasm, especially while SpaceX continues investing heavily in AI infrastructure. SpaceX Trades at 98 Times Sales
• Negative Sentiment: Share-supply and transparency overhangs: Recent lockup expirations have made hundreds of millions of shares eligible for sale, while SpaceX is suing to keep Texas Terafab tax-break records private. Both developments can increase selling pressure or investor scrutiny. SpaceX Sues to Block Release of Terafab Tax-Break Records

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, 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.