SpaceX (NASDAQ:SPCX) Stock Price Down 3.3% – Here’s Why

by · The Cerbat Gem

SpaceX (NASDAQ:SPCX – Get Free Report)’s share price was down 3.3% during mid-day trading on Monday . The company traded as low as $119.68 and last traded at $119.85. Approximately 56,545,115 shares were traded during trading, a decline of 51% from the average session volume of 115,762,250 shares. The stock had previously closed at $123.99.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

  • Positive Sentiment: SpaceX is still drawing bullish attention from some Wall Street voices, including a maintained Buy rating and a $300 price target, with analysts arguing that AI-related opportunities could expand the company’s long-term addressable market.
  • Positive Sentiment: Reports that SpaceX is in talks to provide computing power for the Pentagon’s AI push could open a new growth avenue beyond rockets and satellite broadband. Article Title
  • Positive Sentiment: The next Starship test flight is now targeted for Thursday, July 23, giving investors a near-term catalyst that could improve sentiment if the launch goes well. Article Title
  • Neutral Sentiment: Cathie Wood’s ARK Invest reportedly bought millions of dollars of SpaceX stock, showing that some major investors still see long-term upside, even as the stock has been volatile.
  • Negative Sentiment: Multiple commentaries warn that the stock’s valuation remains stretched despite the selloff, and some strategists argue investors are still overestimating the pace of future growth.
  • Negative Sentiment: The aborted Starship launch attempt and broader execution risk are reminders that SpaceX still needs operational wins to support its premium valuation. Article Title
  • Negative Sentiment: Some analysts and market commentators are explicitly warning against buying the dip, saying the stock may have further downside if sentiment toward speculative, pre-revenue names stays weak.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SPCX. Roth Capital raised shares of SpaceX to a “buy” rating in a research note on Monday, June 22nd. TD Cowen began coverage on shares of SpaceX in a research report on Monday, June 22nd. They set a “buy” rating on the stock. Stifel Nicolaus began coverage on SpaceX in a research note on Tuesday, July 7th. They issued a “buy” rating and a $190.00 target price for the company. Piper Sandler started coverage on SpaceX in a research report on Wednesday. They issued a “neutral” rating and a $156.00 target price for the company. Finally, William Blair initiated coverage on SpaceX in a research note on Tuesday, July 7th. They set an “outperform” rating on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eight have given a Hold rating and one has 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 price target of $234.78.

Read Our Latest Research Report on SpaceX

SpaceX Trading Down 3.3%

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

Hedge Funds Weigh In On SpaceX

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

SpaceX Company Profile

(Get Free Report)

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.

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