SpaceX (NASDAQ:SPCX) Downgraded to “Sell” Rating by Wall Street Zen

SpaceX (NASDAQ:SPCX) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

SPCX has been the subject of a number of other reports. Raymond James Financial started coverage on SpaceX in a report on Tuesday, July 7th. They set a “strong-buy” rating and a $800.00 price objective for the company. Barclays raised SpaceX from an “underweight” rating to an “overweight” rating in a research report on Monday, June 22nd. Canaccord Genuity Group initiated coverage on SpaceX in a report on Tuesday, July 7th. They set a “buy” rating and a $246.00 price target for the company. Wedbush initiated coverage on SpaceX in a research report on Tuesday, June 30th. They issued an “outperform” rating and a $190.00 price target for the company. Finally, Argus initiated coverage on SpaceX in a research note on Friday, June 26th. They set a “hold” rating on the stock. 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 company. Based on data from MarketBeat.com, SpaceX currently has an average rating of “Moderate Buy” and a consensus target price of $230.50.

SpaceX Price Performance

SpaceX stock opened at $115.07 on Friday. SpaceX has a 1-year low of $110.85 and a 1-year high of $225.64.

SpaceX (NASDAQ:SPCX) last posted its 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL bought a new position in shares of SpaceX during the 2nd quarter valued at approximately $181,000. Beacon Investment Advisory Services Inc. bought a new stake in shares of SpaceX in the 2nd quarter worth approximately $174,000. Beaird Harris Wealth Management LLC bought a new position in SpaceX during the second quarter valued at $120,000. Teamwork Financial Advisors LLC bought a new position in SpaceX during the second quarter valued at $8,027,000. Finally, Ebert Capital Management Inc. purchased a new stake in SpaceX in the second quarter worth $647,000.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX is attempting to launch 20 Starlink V3 satellites and its delayed Starship Flight 13, and a successful mission could restore confidence in the company’s launch cadence, lower future launch costs, and support Starlink’s growth narrative. Article Title
• Positive Sentiment: Alphabet’s disclosed $94 billion SpaceX stake and ongoing high monthly cloud-compute spending underscore strong strategic interest from a major tech partner, which investors may view as validation of SpaceX’s long-term AI and infrastructure ambitions. Article Title
• Neutral Sentiment: SpaceX is reportedly scouting Texas sites for AI data centers, reinforcing the company’s broader growth optionality beyond rockets, but the market is still waiting for concrete details before assigning much value. Article Title
• Negative Sentiment: HSBC initiated coverage with a Hold rating and a price target below the IPO price, adding to worries that the “Musk premium” may already be fully priced in. Article Title
• Negative Sentiment: Repeated Starship delays due to weather and recent test setbacks have pressured sentiment, since the stock’s near-term trading is closely tied to whether SpaceX can execute on its most visible catalyst. Article Title
• Negative Sentiment: Investors are also focused on an upcoming lockup expiration that could add supply to the market, while short interest and bearish commentary suggest more volatility ahead for SpaceX (NASDAQ: SPCX). Article Title

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.