SpaceX (NASDAQ:SPCX) Sees Unusually-High Trading Volume – Still a Buy?

06 Aug 2026, 15:41 by Tristan Rich · The Markets Daily

SpaceX (NASDAQ:SPCX – Get Free Report) shares saw strong trading volume on Thursday . 88,950,078 shares traded hands during mid-day trading, a decline of 15% from the previous session’s volume of 104,686,766 shares.The stock last traded at $110.1790 and had previously closed at $108.27.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

Positive Sentiment: Lockup expiration did not trigger an immediate selloff: Approximately 911.5 million previously restricted shares became eligible for trading, potentially increasing the public float by about 143%. The stock’s resilience suggests selling pressure may be more limited than feared, at least initially. SpaceX Climbs as Lockup Expiration Fails to Trigger a Selloff
Positive Sentiment: Strong operating growth supports the long-term bull case: Second-quarter revenue rose 91.9% to $7.81 billion, while the adjusted loss of $0.09 per share beat expectations. Starlink growth, AI-cloud contracts and defense awards are driving optimism, and JPMorgan analyst support reflects potential upside from future AI and compute monetization. SPCX Shares Fall Despite Solid Q2 Results
Positive Sentiment: New strategic investments could expand SpaceX’s addressable market: SpaceX and Tesla plan an initial $16.8 billion investment in Terafab, an AI-chip manufacturing complex in Texas. Elon Musk also said Starship may have solved a major technical problem, potentially improving the economics of future launches. SpaceX says Terafab to be built in Texas
Neutral Sentiment: Investor opinions remain sharply divided: Bullish investors point to SpaceX’s AI, Starlink and space-infrastructure growth, while former hedge-fund manager Whitney Tilson calls SPCX the most overvalued large-cap stock ever and estimates roughly $1 trillion of overvaluation. SpaceX Stock Overvalued, Former Hedge Funder Says
Negative Sentiment: Capital intensity remains the key risk: SpaceX spent $18.4 billion in capital expenditures during the quarter, primarily on AI infrastructure, and expects elevated spending to continue. Investors remain concerned about cash burn, execution risk and whether cloud contracts will generate sufficient returns to justify the valuation. Additional restricted shares are also scheduled to unlock later this year. SpaceX Faces Test as Shares Unlock

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Raymond James Financial restated a “strong-buy” rating on shares of SpaceX in a research report on Monday, July 27th. 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 target price on the stock. KGI Securities lowered shares of SpaceX from an “outperform” rating to a “hold” rating in a research note on Monday, June 22nd. KeyCorp restated a “sector weight” rating on shares of SpaceX in a research note on Tuesday, July 28th. Finally, Piper Sandler cut their price target on shares of SpaceX from $156.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SpaceX currently has an average rating of “Moderate Buy” and an average target price of $229.71.

Check Out Our Latest Analysis on SpaceX

SpaceX Stock Up 1.6%

SpaceX (NASDAQ:SPCX – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.17. The firm had revenue of $7.81 billion during the quarter. The company’s revenue for the quarter was up 91.9% compared to the same quarter last year.

Hedge Funds Weigh In On SpaceX

Several hedge funds and other institutional investors have recently modified their holdings of SPCX. Atwood & Palmer Inc. acquired a new position in shares of SpaceX during the second quarter worth approximately $29,000. Marquette Asset Management LLC acquired a new position in SpaceX in the second quarter valued at about $32,000. Burkett Financial Services LLC acquired a new position in shares of SpaceX during the 2nd quarter worth about $70,000. Contravisory Investment Management Inc. bought a new position in SpaceX during the 2nd quarter worth approximately $73,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in SpaceX in the second quarter worth $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.