SpaceX (NASDAQ:SPCX) Sets New 1-Year Low – Time to Sell?

SpaceX (NASDAQ:SPCX)’s share price reached a new 52-week low on Tuesday . The company traded as low as $136.78 and last traded at $139.14, with a volume of 71122394 shares changing hands. The stock had previously closed at $145.30.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Negative Sentiment: Wall Street commentary is increasingly bearish, with critics warning that SpaceX’s valuation got ahead of fundamentals and that the IPO may have created “exit liquidity” for early holders rather than a clean buying opportunity. Article Title
• Negative Sentiment: Investors are worried about upcoming lockup expirations and a potential surge in tradable shares, which could add more selling pressure in the weeks ahead. Article Title
• Negative Sentiment: The company is facing growing competition in reusable rockets, with reports noting that SpaceX may no longer be the only player with a reliable, reusable launch system. Article Title
• Neutral Sentiment: The FAA cleared Starship for another flight after SpaceX identified the likely cause of a prior booster failure, which supports the long-term launch roadmap but has not been enough to offset valuation concerns. Article Title
• Neutral Sentiment: Some bullish analysts and investors still see major upside, pointing to Starlink, AI infrastructure plans, and index inclusion as long-term catalysts, while Cathie Wood reportedly added to her position during the selloff. Article Title

Analyst Ratings Changes

SPCX has been the topic of several recent research reports. Daiwa Securities Group assumed coverage on SpaceX in a research report on Thursday, July 2nd. They set a “neutral” rating and a $175.00 target price on the stock. Cantor Fitzgerald initiated coverage on SpaceX in a research report on Tuesday, July 7th. They issued an “overweight” rating and a $246.00 price target for the company. Wall Street Zen upgraded SpaceX from a “sell” rating to a “hold” rating in a research note on Sunday. Seaport Research Partners upgraded SpaceX to a “buy” rating in a research note on Monday, June 22nd. Finally, Benchmark began coverage on SpaceX in a report on Monday, June 22nd. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $239.12.

SpaceX Trading Down 4.2%

SpaceX (NASDAQ:SPCX) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.27) EPS for the quarter. The firm had revenue of $4.69 billion for the quarter.

Hedge Funds Weigh In On SpaceX

Institutional investors have recently added to or reduced their stakes in the business. Atwood & Palmer Inc. purchased a new stake in shares of SpaceX in the 2nd quarter valued at about $29,000. Marquette Asset Management LLC purchased a new position in shares of SpaceX during the second quarter worth about $32,000. Burkett Financial Services LLC purchased a new position in shares of SpaceX during the second quarter worth about $70,000. Contravisory Investment Management Inc. bought a new position in shares of SpaceX in the second quarter worth approximately $73,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in SpaceX during the second quarter valued at approximately $89,000.

SpaceX Company Profile

SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.

Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.