Key Highlights
- SPCX shares advanced 1% to $134.65 during premarket hours on Wednesday following Tuesday’s 3.9% decline
- The company successfully deployed 24 additional Starlink satellites from California’s Vandenberg Space Force Base, marking its 51st West Coast mission in 2026
- Starlink operations represent approximately 70% of total company revenue, contributing $4.29 billion during the second quarter of 2026
- Second-quarter revenue reached $7.81 billion, representing a 91.9% increase compared to the prior year and surpassing analyst projections
- A significant insider lockup expiration scheduled for August 21 may release approximately $42.5 billion worth of shares for potential trading
Shares of SpaceX (SPCX) edged up 1% to $134.65 during Wednesday’s premarket session, recouping a portion of losses from Tuesday when the stock slid 3.9% to close at $133.29. The equity initially debuted at $135 per share when public trading commenced on June 12.
Space Exploration Technologies Corp., SPCX
The early morning uptick came on the heels of Tuesday evening’s successful deployment of 24 Starlink satellites into low-Earth orbit from Vandenberg Space Force Base in California. This mission represented the company’s 51st launch from the West Coast during the current year.
The Starlink satellite network continues to serve as SpaceX‘s primary revenue driver, representing nearly 70% of consolidated sales. During the second quarter of 2026, the satellite internet division alone generated $4.29 billion in revenue.
Second Quarter Results Surpass Analyst Forecasts
SpaceX disclosed second-quarter revenue totaling $7.81 billion, reflecting a robust 91.9% year-over-year increase. The company recorded a per-share loss of $0.09, which came in $0.17 better than the consensus analyst estimate calling for a $0.26 loss.
Capital investments during the quarter were substantial, reaching $15.8 billion. These expenditures primarily funded the expansion of orbital data infrastructure and the scaling of artificial intelligence operations. Both the AI compute segment and Starship hardware division reported operational losses for the period.
Notwithstanding the impressive revenue growth, SPCX has experienced significant volatility since reaching $201.80 on June 16. The stock had declined over 30% from that high water mark leading up to the initial insider lockup expiration. However, the anticipated selloff during that event failed to materialize.
Critical Lockup Expiration Approaching
The subsequent lockup period concludes on August 20, with an unlock event scheduled for August 21 that could make approximately $42.5 billion in stock available for trading. Market participants are monitoring this development carefully and repositioning portfolios in anticipation.
Elon Musk has stated that SpaceX‘s artificial intelligence revenue will “definitely” surpass all other income streams next month. Morgan Stanley has maintained its base-case price target of $300 and established a bull-case scenario of $600, emphasizing AI-driven upside potential.
During the second quarter, Hyperion Asset Management acquired 1,177,203 SPCX shares worth approximately $201.1 million. This investment represents 5.3% of the fund’s portfolio and ranks as its eighth-largest position.
Additional institutional investors initiated positions during Q2, including Dynamic Advisor Solutions with a $3.38 million stake and KERR Financial Planning with a $566,000 investment.
Overall analyst sentiment trends positive, with a consensus rating of “Moderate Buy” and an average price objective of $229. Nevertheless, Raymond James downgraded its rating from strong buy to strong sell last Friday, while Seaport Research Partners lowered its stance from buy to neutral on the same date.
Argus Research upgraded SpaceX from hold to buy on August 7, establishing a $160 price target. Daiwa Securities initiated coverage in July with a neutral rating and $175 price objective.
Norway’s sovereign wealth fund has also revealed a position in SpaceX, joining the expanding roster of institutional investors accumulating shares.
The stock’s 50-day moving average currently stands at $143.01. Over the past 52 weeks, shares have traded in a range between $104.83 and $225.64.
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