Elmwood Wealth Management Inc. Makes New Investment in SpaceX $SPCX

Elmwood Wealth Management Inc. acquired a new stake in SpaceX (NASDAQ:SPCX) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 10,541 shares of the company’s stock, valued at approximately $1,590,000.

Several other large investors also recently made changes to their positions in SPCX. Syntax Research Inc. bought a new stake in shares of SpaceX during the second quarter worth $26,000. Atwood & Palmer Inc. bought a new position in shares of SpaceX in the second quarter valued at about $29,000. PayPay Securities Corp bought a new position in shares of SpaceX in the second quarter valued at about $30,000. Marquette Asset Management LLC acquired a new position in SpaceX during the 2nd quarter worth about $32,000. Finally, Hickory Point Bank & Trust acquired a new position in SpaceX during the 3rd quarter worth about $30,000.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong analyst upside: Morgan Stanley reiterated an Overweight rating with a $300 price target, while Raymond James maintained a Strong Buy rating and an $800 target. The broader analyst consensus also implies meaningful upside from current levels. Morgan Stanley sets SpaceX stock price target
• Positive Sentiment: Starlink continues to scale: SpaceX reportedly added roughly 570,000 subscribers per month in the second quarter, supporting recurring revenue growth from its profitable satellite-internet business. Starlink subscriber growth
• Positive Sentiment: Operational progress: SpaceX successfully launched another NASA resupply mission, while its planned spectrum acquisition could expand Starlink’s direct-to-cell and wireless ambitions. SpaceX NASA resupply mission
• Neutral Sentiment: Long-term growth narrative remains intact: Investors are debating SpaceX’s potential in wireless service, AI infrastructure, orbital data centers and Starship. However, these opportunities require substantial execution and capital before they generate material returns.
• Neutral Sentiment: Starship expansion faces review: The FAA began an environmental assessment of SpaceX’s proposal to conduct as many as 456 Starship launches and landings annually, creating a possible path to greater capacity but also regulatory uncertainty. SpaceX Starship launch expansion
• Negative Sentiment: Ukraine service restrictions increased reputational and political risk: Ukrainian officials said new limits on military Starlink terminals disrupted drone operations. The reports may intensify scrutiny of SpaceX’s role in the conflict and raise concerns about customer reliability and government relationships. Ukraine accuses SpaceX of crippling drone missions
• Negative Sentiment: High funding requirements are weighing on valuation: Reports that SpaceX may seek up to $40 billion in new debt, alongside heavy AI and infrastructure spending, have raised concerns about cash burn, leverage and execution risk. SpaceX seeks new debt
• Negative Sentiment: Regulatory scrutiny persists: SpaceX agreed to testify before the New York City Council in an AI-safety investigation, adding headline and compliance risk. SpaceX AI safety testimony

Insider Transactions at SpaceX

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the transaction, the chief operating officer directly owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. This represents a 12.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

SPCX has been the topic of a number of research analyst reports. Barclays initiated coverage on shares of SpaceX in a report on Friday, October 9th. They set an “overweight” rating and a $254.00 price objective on the stock. Benchmark began coverage on shares of SpaceX in a research note on Monday, June 22nd. They issued a “buy” rating for the company. Seaport Research Partners lowered shares of SpaceX from a “buy” rating to a “neutral” rating in a research report on Friday, August 7th. Mizuho assumed coverage on shares of SpaceX in a research report on Tuesday, July 7th. They set an “outperform” rating and a $200.00 target price on the stock. Finally, KeyCorp reissued a “sector weight” rating on shares of SpaceX in a research note on Tuesday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, nine have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $220.06.

SpaceX Trading Down 2.8%

Shares of SPCX traded down $4.38 during trading hours on Wednesday, hitting $152.16. 67,294,011 shares of the stock traded hands, compared to its average volume of 101,230,219. The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64. The stock has a market capitalization of $2.01 trillion and a price-to-earnings ratio of -1,690.67. The firm has a fifty day simple moving average of $146.63.

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating 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 research analysts expect that SpaceX will post 0.07 earnings per share for the current fiscal year.

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 designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.