SpaceX shares poised to snap painful 7-day losing streak
SPCX•Other space stocks move higher
Meanwhile, shares of other space firms were also climbing on Tuesday: Intuitive Machines LUNR.O 6%, Planet Labs PL.N 4%, Satellogic SATL.O 9.5% and Virgin Galactic SPCE.N 6%.
AST SpaceMobile's ASTS.O stock was up 11%, and satellite communications firm EchoStar SATS.O, a pre-IPO holder of SPCX, was up 6% on the session.
Starship launch and analyst sentiment
SPCX is targeting another attempt on Thursday, July 23, at its 13th Starship rocket launch, a week after it was forced to scrub the test.
Twenty-seven of 33 analysts covering SPCX rate the stock "strong buy" or "buy", five rate it "hold" and one rates it "sell"; the median price target of $226 implies 77% upside to current levels.
Results timing and share lockup details
The stock's advance came after the company late Monday announced it expects to report second-quarter results after market close on Aug. 4, the timing of which is significant as it unveils when insider lockup periods begin to expire.
Employees and some early investors will be able to sell 911.5 million shares on the second day following the report. Under certain conditions, an additional 455.8 million shares will be eligible for sale, while those owned by CEO Elon Musk and select other insiders are locked up until mid-2027.
SpaceX shares rise after seven-day slide
SpaceX's SPCX.O shares were rising 6.3% to $127.44 and were on course to snap a hurtful 7-session losing streak on Tuesday.
