SpaceX (NASDAQ:SPCX) Trading Up 2.6% – Should You Buy?

SpaceX (NASDAQ:SPCX) rose 2.6% on Tuesday . The company traded as high as $118.13 and last traded at $116.41. Approximately 81,034,115 shares were traded during trading, a decline of 25% from the average daily volume of 107,435,172 shares. The stock had previously closed at $113.50.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Elon Musk said Starship Flight 13 intentionally used higher acceleration to test whether heat-shield tiles could remain attached under harsher conditions. The flight was viewed as a meaningful step toward operationalizing Starship, although it was not completely flawless. Elon Musk Reveals the Secret Test SpaceX Performed During Starship Flight 13
• Positive Sentiment: ARK Invest continued buying the decline, acquiring roughly $21.3 million to $23 million of SpaceX-linked shares. Cathie Wood’s purchases reinforce the view that Starlink, artificial intelligence and reusable launch technology could support substantial long-term growth. Cathie Wood Keeps Buying Every SpaceX Dip
• Positive Sentiment: Six lawmakers, including Representative William Timmons, disclosed SpaceX purchases totaling as much as $480,000. The buying offers a modest sentiment boost, though it does not change the company’s fundamentals. These Six Lawmakers Bought as Much as $480,000 of SpaceX Stock
• Positive Sentiment: Analysts and investors continue to highlight potential upside from Starlink, space-based computing and a possible Tesla–SpaceX relationship. RBC said a combination could create chip-cost savings and an “orbit-to-ground” technology ecosystem, but no transaction has been announced. Tesla-SpaceX Combo Could Lead to Massive Chip Savings
• Neutral Sentiment: SpaceX will report its first quarterly results as a public company on Aug. 4. Wall Street reportedly expects approximately $6.9 billion in revenue and a $0.28 per-share loss, making the release an important test of Starlink growth, cash flow and capital-spending needs. SpaceX Will Give Investors Big News on Aug. 4
• Negative Sentiment: The dominant concern is the Aug. 6 lock-up expiration, when as many as 911.5 million shares held by insiders and early investors could become eligible for sale. The potential supply is far larger than the IPO float and is pressuring the stock ahead of earnings. Elon Musk Stocks Take a $1.5 Trillion Hit
• Negative Sentiment: Valuation remains a major obstacle. SpaceX has lost roughly half its value from its post-IPO peak, while HSBC initiated coverage with a Hold rating and a $115 price target, citing high cash-burn and execution risks. HSBC Just Started Covering SpaceX
• Negative Sentiment: Amazon’s planned 5,105-satellite direct-to-device network represents a well-funded competitive threat to Starlink and could increase pricing and capital-spending pressure across the satellite communications market. Amazon’s New Satellite Network Could Turn Up the Heat on SpaceX

Analysts Set New Price Targets

Several brokerages have issued reports on SPCX. The Goldman Sachs Group started coverage on shares of SpaceX in a research report on Tuesday, July 7th. They set a “buy” rating and a $205.00 price target on the stock. Morgan Stanley restated an “overweight” rating on shares of SpaceX in a report on Friday. Wolfe Research initiated coverage on shares of SpaceX in a research note on Friday, June 12th. They issued an “outperform” rating and a $175.00 price objective for the company. Wells Fargo & Company initiated coverage on shares of SpaceX in a report on Tuesday, July 7th. They set an “overweight” rating and a $230.00 target price on the stock. Finally, Seaport Research Partners raised shares of SpaceX to a “buy” rating in a research note on Monday, June 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $230.50.

SpaceX Trading Up 2.6%

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

Institutional Investors Weigh In On SpaceX

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

About SpaceX

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.