Space Exploration Technologies Corp. (SpaceX) shares gained 7.77% after its third-quarter results, surpassing a pre-earnings price range published by TipRanks as two IPO share lockups approach.
MarketScreener recorded the shares at $159.28 at 8 p.m. ET on Oct. 20. The reported gain was measured from that day’s regular-session close of $147.79.
TipRanks had estimated a 7.8% earnings-related move using the Oct. 16 close of $146.03. Its projected upper price was $157.42, below the after-hours quote. The similar percentages therefore describe changes from different starting prices.
Seeking Alpha separately reported an estimate near 8% and trading in calls with a $170 strike and puts with a $140 strike. Those strikes sat on either side of SpaceX’s $147.96 closing price on Oct. 19. That price was a reference for the strikes, while TipRanks used the earlier Oct. 16 close for its estimate. Options-based estimates indicate the possible size of a price change without identifying its direction.
A separate measure from Cboe LiveVol suggested a roughly 6% earnings move, CNBC reported. SpaceX reported third-quarter revenue of $14.6 billion and net income of $4.4 billion. Its net result reversed a $1.1 billion loss a year earlier.
CNBC reported that SpaceX shares fell about 13% after the company’s first earnings report as a public company in August. It said September lockup expirations had no discernible effect on the share price. Those past moves do not establish how shares will respond to the next releases.
Holders covered by one IPO lockup become eligible to sell Oct. 22. A separate restriction expires Oct. 24, and the next trading day is Oct. 26.
