SpaceX $SPCX Shares Acquired by Phoenix Financial Ltd.

Phoenix Financial Ltd. raised its position in SpaceX (NASDAQ:SPCX) by 132.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 50,634 shares of the company’s stock after acquiring an additional 28,811 shares during the quarter. Phoenix Financial Ltd.’s holdings in SpaceX were worth $7,639,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Syntax Research Inc. acquired a new stake in SpaceX in the second quarter worth about $26,000. Atwood & Palmer Inc. acquired a new position in shares of SpaceX during the second quarter valued at about $29,000. PayPay Securities Corp acquired a new position in shares of SpaceX during the second quarter valued at about $30,000. Marquette Asset Management LLC purchased a new position in shares of SpaceX in the 2nd quarter valued at approximately $32,000. Finally, Hickory Point Bank & Trust purchased a new position in shares of SpaceX in the 3rd quarter valued at approximately $30,000.

Key Stories Impacting SpaceX

Investors following SPCX have been watching these stories:

• Positive Sentiment: AI expansion could add a major growth engine: SpaceX plans to invest more than $74 billion in supercomputing campuses in Texas and Arizona. Its latest reported quarterly revenue rose 161% year over year, underscoring the company’s rapid growth. Reuters: SpaceX to invest over $74 billion in supercompute facilities
• Positive Sentiment: Investor backing and Starship potential: Thrive Capital more than doubled its SpaceX stake in the third quarter, with the position valued at about $7.1 billion. Morgan Stanley’s Adam Jonas also sees a successful first attempt to catch both Starship stages as a meaningful milestone that could support a higher valuation. Benzinga: Thrive Capital increases its SpaceX stake
• Negative Sentiment: Merger scrutiny adds uncertainty: Texas Attorney General-elect Nathan Johnson has signaled rigorous review of a possible SpaceX-Tesla combination, creating a potential political and regulatory obstacle. These concerns may help explain why ambitious growth news has not fully eased pressure on SPCX. Yahoo Finance: Incoming Texas AG vows scrutiny of potential merger

Insiders Place Their Bets

In related 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 approximately $379,630,414.95. The trade was a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Trading Down 0.6%

SPCX traded down $0.83 on Friday, reaching $139.11. The stock had a trading volume of 76,552,723 shares, compared to its average volume of 113,965,480. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64. The company has a current ratio of 3.08, a quick ratio of 3.00 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $148.90. The company has a market cap of $1.89 trillion and a P/E ratio of 535.04.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.10 by $0.25. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The company had revenue of $14.57 billion for the quarter. During the same period in the previous year, the business posted ($0.36) earnings per share. The firm’s revenue for the quarter was up 161.4% on a year-over-year basis. As a group, analysts predict that SpaceX will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SPCX shares. UBS Group reissued an “overweight” rating and set a $300.00 price objective on shares of SpaceX in a report on Wednesday, October 21st. Royal Bank Of Canada restated an “outperform” rating on shares of SpaceX in a research note on Monday, October 19th. Bank of America lifted their price target on SpaceX from $235.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. KeyCorp reiterated a “sector weight” rating on shares of SpaceX in a research note on Friday. Finally, CLSA started coverage on SpaceX in a report on Monday, September 28th. They issued an “outperform” rating and a $250.00 price objective on the stock. Four research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $243.60.

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.