Key TakeawaysNew FCC documentation from SpaceX indicates Starship test 14 is scheduled to begin operations on September 15.Documents mention an “orbital second stage,” hinting at the first attempt to achieve orbital insertion with Starship’s upper stage.SPCX shares started trading at $140.71, reflecting a 1.1% decline, with the company valued at $1.84 trillion.The company posted $7.81 billion in quarterly revenue, representing a 91.9% increase compared to the same period last year and exceeding earnings forecasts.Wall Street analysts maintain a “Moderate Buy” consensus rating with an average price target of $221.20.SPCX shares began Thursday’s session at $140.71, representing a 1.1% decrease, trading slightly above the June IPO level of $135. The aerospace company currently holds a market capitalization of $1.84 trillion.Space Exploration Technologies Corp., SPCXThe most recent development stems from new Federal Communications Commission documentation submitted by SpaceX concerning Starship test 14. The paperwork indicates September 15 as the operational start date and includes language about an “orbital second stage,” suggesting the company’s first attempt to achieve orbital insertion with the Starship upper stage.SpaceX filed a request with the FCC today that states Tuesday September 15th 2026 is the planned launch date/deployment date for new high-capacity orbital Starlink satellites via Starship Test Flight 14; confirming flight 14 is planned to be the first orbital Starship launch.… pic.twitter.com/mZ9iP72fDw— Starship Gazer (@StarshipGazer) September 1, 2026The previous Starship test, number 13, took place in late July and achieved multiple significant milestones, including successfully deploying 20 Starlink V3 satellites into orbit.SpaceX’s Starlink broadband service has crossed the 12 million subscriber threshold. During the latest reporting period, the connectivity division produced approximately $1.66 billion in operating profit.The company announced quarterly revenue reaching $7.81 billion, marking a 91.9% year-over-year increase. SpaceX recorded a per-share loss of $0.09, which came in $0.17 better than the consensus analyst forecast of a $0.26 loss.Institutional Ownership Continues to ExpandDuring the second quarter, Carter Financial Group established a new stake in SpaceX, acquiring 7,809 shares worth roughly $1.33 million. Multiple additional investment firms also initiated positions, including Atwood & Palmer, Marquette Asset Management, and Orion Capital Management.SpaceX shares have traded within a 52-week band of $104.83 to $225.64, with the 50-day moving average currently at $136.33.Among Wall Street analysts, Cantor Fitzgerald maintains an “overweight” rating with a $246 price objective. Deutsche Bank carries a “buy” rating alongside a $255 target. Arete Research established the Street’s most bullish target at $450. The overall consensus stands at “Moderate Buy” with a mean price target of $221.20.Oppenheimer recently increased its price objective to $280, pointing to accelerated AI adoption rates and growing infrastructure investment. Bernstein established a $248 target and projects AI-related revenue could increase nearly fivefold by 2027.Challenges Remain PresentThe picture isn’t entirely positive. Reports indicate SpaceX conducted a reorganization of its data-center management following reliability problems at Tennessee and Mississippi locations. A September 30 deadline approaches for Google’s reported monthly computing contract worth $920 million.The company’s AI division reportedly consumed the majority of capital expenditures during the quarter. SpaceX’s current valuation provides limited room for missteps.The company’s reliance on Elon Musk continues to represent a significant governance consideration for certain institutional investors.More encouragingly, both Google and Anthropic have allegedly sought SpaceX’s AI computing infrastructure as ground-based electricity supply and data-center availability become increasingly limited.The Department of Defense’s approval of Starshield AI’s Grok system for government applications further strengthens SpaceX’s narrative in defense and orbital computing markets.The company aims to begin transporting commercial payloads aboard Starships before 2026 concludes. Wall Street analysts project a full-year loss of $0.15 per share for the ongoing fiscal year.The post SpaceX (SPCX) Stock: Institutional Interest Rises Ahead of Starship Test 14 appeared first on Blockonomi.