SpaceX (NASDAQ:SPCX) Shares Down 4.5% – Here’s What Happened

SpaceX (NASDAQ:SPCX)’s stock price dropped 4.5% during mid-day trading on Friday . The stock traded as low as $145.07 and last traded at $145.30. 45,774,062 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 133,431,781 shares. The stock had previously closed at $152.16.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Wall Street coverage turned broadly bullish, with several firms initiating buy ratings and Raymond James setting a street-high $800 price target, arguing SpaceX could still have major upside if Starlink and launch growth scale as expected. Raymond James Sets Wall Street’s Highest Price Target on SpaceX Stock at $800. Here’s the Math Behind the 425% Upside Call.
• Positive Sentiment: SpaceX was added to the Nasdaq-100, which could drive forced buying from index funds and support demand for the shares over time. SpaceX Added to Nasdaq-100 and Could Trigger $4.3B in Forced Passive Buying
• Positive Sentiment: Cathie Wood’s ARK Invest continued buying SpaceX shares, signaling that some growth investors still see the post-IPO pullback as a buying opportunity. Cathie Wood Buys More SpaceX, Sells AMD, BioNTech, and Other Growth Stocks, 7/9/26
• Neutral Sentiment: Backpack launched 24/7 trading of tokenized real U.S. equities, including SpaceX, expanding access for international investors but not directly changing the company’s fundamentals. Beyond SpaceX: First Trust Launches FSPC Space Economy ETF Focused on AI, Satellites, Launch Leaders
• Negative Sentiment: Bearish commentary intensified around SpaceX’s valuation, with multiple reports saying the IPO hype is fading and that the company’s true value may be far below its market cap. SpaceX: The IPO Hype Is Fading – Why Shares’ True Value May Be Less Than Half Its Market Cap
• Negative Sentiment: Several stories highlighted mounting concerns about losses, heavy AI spending, and funding needs, reinforcing worries that profits may remain distant despite strong revenue growth. SpaceX Lost $4.28 Billion on $4.7 Billion in Revenue Last Quarter. Here’s What’s Going On.
• Negative Sentiment: China’s first successful reusable rocket booster landing also raised competitive pressure on SpaceX’s launch leadership story. China Lands Reusable Rocket Booster for the First Time, Closes Gap With SpaceX in Orbital Launch Race

Analysts Set New Price Targets

A number of research analysts have commented on SPCX shares. Oppenheimer raised their target price on shares of SpaceX from $190.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. Royal Bank Of Canada started coverage on SpaceX in a research report on Tuesday, July 7th. They set an “outperform” rating and a $225.00 target price on the stock. Wells Fargo & Company initiated coverage on SpaceX in a research report on Tuesday, July 7th. They issued an “overweight” rating and a $230.00 price target for the company. TD Cowen began coverage on SpaceX in a research note on Monday, June 22nd. They set a “buy” rating for the company. Finally, Zacks Research raised SpaceX to a “hold” rating in a research report on Monday, June 15th. Four analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.12.

SpaceX Stock Down 4.5%

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Hyperion Asset Management Ltd acquired a new stake in SpaceX in the second quarter worth about $201,137,000. Abound Wealth Management acquired a new position in shares of SpaceX during the second quarter valued at about $350,000. Accel Wealth Management purchased a new position in shares of SpaceX in the 2nd quarter valued at approximately $203,000. Heck Capital Advisors LLC purchased a new position in shares of SpaceX in the 2nd quarter valued at approximately $3,768,000. Finally, JFS Wealth Advisors LLC acquired a new stake in SpaceX in the 2nd quarter worth approximately $325,000.

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.