Space Exploration Technologies Corp (SPCX) announced on October 6 its plans to develop a next-generation non-GEO mobile-satellite system aimed at offering direct-to-device satellite connectivity. On October 8, SPCX revealed its intention to acquire Grain Management's nationwide 800 MHz low-band spectrum portfolio, but did not disclose the financial details of the deal.
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The company is also exploring options for wireless expansion, which includes building a terrestrial network, partnering with a telecommunications carrier, or acquiring another firm. Analysts suggest that a partnership with a carrier is the most likely path, though the outcome remains uncertain.
On October 7, Susquehanna adjusted its price target for SPCX while maintaining a Neutral rating, but no other analyst changes or financial specifics were provided.