SpaceX (NASDAQ:SPCX) Now Covered by China Renaissance

Investment analysts at China Renaissance began coverage on shares of SpaceX (NASDAQ:SPCX) in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage set a “buy” rating and a $194.20 price target on the stock. China Renaissance‘s price target points to a potential upside of 42.88% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $250.00 target price on shares of SpaceX in a report on Wednesday, October 21st. Wall Street Zen upgraded SpaceX from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Raymond James Financial reissued a “strong-buy” rating on shares of SpaceX in a report on Wednesday, October 14th. TD Cowen increased their price objective on SpaceX from $200.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. Finally, William Blair restated an “outperform” rating on shares of SpaceX in a research report on Friday, October 9th. Four analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $243.60.

SpaceX Price Performance

NASDAQ SPCX opened at $135.92 on Thursday. The firm has a fifty day moving average of $149.64. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00. The stock has a market cap of $1.85 trillion and a P/E ratio of 522.77.

SpaceX (NASDAQ:SPCX) last released its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.25. The company had revenue of $14.57 billion during the quarter. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The business’s revenue was up 161.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.36) EPS. As a group, sell-side analysts forecast that SpaceX will post 0.19 earnings per share for the current year.

Insider Buying and Selling at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the business’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 $379,630,414.95. The trade was a 12.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Trading of SpaceX

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. James T. Borello RIA raised its stake in shares of SpaceX by 41.4% during the 3rd quarter. James T. Borello RIA now owns 246 shares of the company’s stock worth $37,000 after buying an additional 72 shares during the last quarter. Oakworth Capital Inc. boosted its holdings in shares of SpaceX by 17.8% during the third quarter. Oakworth Capital Inc. now owns 483 shares of the company’s stock worth $73,000 after purchasing an additional 73 shares during the last quarter. Fonville Wealth Management LLC increased its stake in shares of SpaceX by 3.8% during the 3rd quarter. Fonville Wealth Management LLC now owns 2,719 shares of the company’s stock valued at $410,000 after acquiring an additional 99 shares during the last quarter. Downshift Financial LLC boosted its holdings in shares of SpaceX by 25.7% in the 3rd quarter. Downshift Financial LLC now owns 553 shares of the company’s stock valued at $83,000 after purchasing an additional 113 shares during the last quarter. Finally, Balance Wealth Partners LLC grew its position in SpaceX by 5.7% during the third quarter. Balance Wealth Partners LLC now owns 2,261 shares of the company’s stock valued at $341,000 after acquiring an additional 121 shares during the period.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX selected Qualcomm to provide 5G base-station technology and software for its planned Starlink Mobile network. The partnership could help SpaceX compete in U.S. wireless, though large-scale deployment is planned for 2027 and will require substantial investment. SpaceX signs deal with Qualcomm to provide network technology for U.S. mobile service
• Negative Sentiment: Democratic midterm wins have raised investor concerns about tighter oversight of AI and data-center projects, including potential obstacles to SpaceX’s infrastructure expansion and a possible Tesla merger. Why SpaceX Stock Is Down Today
• Negative Sentiment: AI growth carries significant execution and cost risks: SpaceX must secure enough electricity and equipment for its computing buildout, while a reported 34.5% of last quarter’s revenue came from one customer. That concentration could make sales vulnerable if the customer reduces business. SpaceX’s Power Bill Is Getting Bigger 34.5% of SpaceX’s Revenue Could Disappear by Mid-2027
• Negative Sentiment: Shares have been in a recent downtrend and fell below the reported IPO price, a negative technical milestone that may reinforce investor caution. SpaceX stock just plunged below SPCX IPO price; Here’s why

SpaceX Company Profile

Space Exploration Technologies Corp., commonly known as SpaceX, is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles and spacecraft designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s principal products and services include the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starlink satellite communications network. Falcon rockets are used to launch satellites, cargo and crew, while Dragon spacecraft support transportation to and from low Earth orbit.