SpaceX shares rise as Starship reaches orbit and company targets three launches in 13 hours

  • SpaceX’s Starship Flight 14 reached orbit and deployed 26 Starlink V3 satellites.
  • SPCX shares traded at $152.69, up 1.21% Thursday.
  • SpaceX targeted three orbital launches within approximately 13 hours across Florida and California.

Shares of Space Exploration Technologies Corp. (NASDAQ:SPCX) were up 1.21% at $152.69 Thursday, after initially rising 0.68% in pre-market trading on October 1. Investor attention centered on Starship Flight 14, which launched from Starbase, Texas, reached orbit for the first time and deployed 26 Starlink V3 satellites. The mission was classified as expended: the upper stage splashed down in the Pacific Ocean and the Super Heavy booster splashed down in the Gulf after a planned landing-burn test. One of Starship’s six Raptor engines shut down during ascent, and the mission ended after roughly three hours rather than the planned nearly 10-hour profile. SpaceX was also targeting three orbital launches within about 13 hours: NASA’s Crew-13 mission with four astronauts aboard Dragon spacecraft Grace, the Transporter-18 rideshare mission carrying 130 payloads, and a Falcon Heavy launch of the classified NROL-97 payload for the National Reconnaissance Office. Filtronic announced a $68.1 million follow-on order from SpaceX for Cerus E-band gallium nitride solid-state power amplifier units, with a substantial portion expected to be fulfilled during fiscal 2028. A Nasdaq-100 rebalance raised SpaceX’s weighting to 2.82% from approximately 1.28%, potentially increasing purchases by passive funds and exchange-traded funds. TipRanks data showed a Moderate Buy consensus based on 27 Buy recommendations, five Holds and two Sells, with average price targets of $233.10, implying approximately 55% upside from current levels.

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SpaceX shares rise as Starship reaches orbit and company targets three launches in 13 hours - CoinPost Terminal