SpaceX (SPCX) Stock: Britain Spends $40M on Starshield as Institutional Investors Add Positions

TLDR

• Britain spent nearly $40 million on SpaceX satellite services, becoming the first country outside the US to publicly confirm use of Starshield
• The UK defence ministry operates around 1,000 Starshield terminals and 500 Starlink terminals
• SpaceX reported Q2 revenue of $7.81 billion, up 92% year over year, beating EPS estimates
• IPG Investment Advisors and other institutional investors established new positions in SPCX during Q2
• Analysts hold a consensus “Moderate Buy” rating with a $221.06 price target; SPCX opened at $147.55 Thursday

Britain has become the first country outside the United States to publicly confirm use of SpaceX’s Starshield military satellite service, spending nearly $40 million on Starlink and Starshield combined, according to a Reuters report published Thursday.

Space Exploration Technologies Corp., SPCX

The UK defence ministry disclosed the spending after a freedom of information request. It operates roughly 1,000 Starshield terminals and 500 Starlink terminals. Spending breaks down to approximately £13 million ($17.6 million) on Starshield and £16.5 million on Starlink.

Britain first started using Starlink in mid-2022, then shifted operational military communications to Starshield after SpaceX restricted Starlink to morale, welfare, recreation, and training use only.

Starshield uses the same satellite constellation as Starlink but runs through dedicated terminals and separate ground-based gateways. It offers enhanced encryption, military-grade terms of service, higher network priority, and broader coverage.

The pricing difference between the two services is large. Starshield plans in the UK run from £5,500 per month for five terabytes to £25,000 per month for unlimited data. Standard Starlink business plans cost £1,830 monthly for two terabytes. Starshield terminals are priced between £4,000 and £7,000 each, at least double Starlink’s business-grade hardware.

Britain purchased its first dedicated Starshield terminals in 2025, after using Starshield airtime through existing Starlink terminals starting in 2024. New Zealand is also currently testing Starshield for potential military use.

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The US government has awarded more than $6 billion in multi-year Starshield contracts, mainly through two US Space Force programs focused on low-Earth orbit constellations.

Institutional Investors Add to SPCX Positions

On the investment side, IPG Investment Advisors acquired 11,561 SPCX stock during Q2, valued at roughly $1.98 million. Several other institutional investors also opened new positions. Hyperion Asset Management took a stake worth around $201 million. K5 Global Advisor established a position valued at approximately $6.59 billion. Wedbush Securities and Assenagon Asset Management also bought in during the quarter.

SPCX opened at $147.55 Thursday. The stock carries a market cap of $1.93 trillion. Its 52-week range runs from $104.83 to $225.64, and the 50-day moving average sits at $135.28.

SpaceX Earnings Beat Estimates

SpaceX reported Q2 revenue of $7.81 billion on August 4th, up 91.9% year over year. EPS came in at a loss of $0.09, beating the analyst consensus estimate of a $0.26 loss by $0.17.

Pivotal Research recently initiated coverage with a Buy rating and a $220 price target. Arete Research set a $450 price target. Barclays upgraded the stock from underweight to overweight. CFRA holds a Sell rating with a $115 target.

The stock does face some headwinds. Up to 319 million insider stock became eligible for sale following a recent lock-up expiration, valued at roughly $47 to $49 billion. Execution concerns around AI data centers also remain, with some facilities reportedly running without backup power and a $920 million deadline tied to related requirements.

The consensus analyst rating stands at “Moderate Buy” with a price target of $221.06, based on data from MarketBeat.