Although the outbreak of pandemic has negatively influenced the space sector, but this industry was capable enough to bounce back with the latest news that in the coming few years, a new constellations of space satellites are about to reach the low-Earth orbit, news related to satellite-based space travel, and point-to-point travel or transport all over the earth. The interest of investors in the exploration of space develops further when the founder and CEO of Tesla and SpaceX, Elon Musk, has completed his 1st manned mission successfully on 30th May, 2020. This particular event made this organization the first-ever private firm to launch astronauts for assisting NASA. This space related interest can be sparked further by the Biden government as he is committed to provide support to the work of NASA in moving Americans to the moon and also to Mars. Insider Monkey has shared the statement of the CEO and co-founder of ProcureAM as given below:
“We’re actually really encouraged, although the previous administration has really done a lot to push the space industry forward, both from a commercial and military and defense standpoint. So, we believe that space is something that’s here to stay and should and will be potentially a priority for any administration in the future.”
Here, we are going to share with you the 5 Best Space Stocks to buy. This list is based on the companies reviewed by Insider Monkey in their post. The best stock at 5th place is L3Harris. The firm is operating in various domains including space, air, sea, land, and cyber. The company is engaged in providing end-to-end solutions that meet the mission-critical needs of its customers. Recently, a $122 million contract has been awarded to LHX by the Missile Defense Agency for the purpose of developing a prototype satellite that could track various hypersonic tools and weapons. Diamond Hill Capital of Ric Dillion is the biggest hedge fund holder of this company’s stock. As of the September quarter, the total amount invested by this hedge fund was more than $174 million.
The next company on the list at 4th place is Heico Corporation which is involved in the designing and manufacturing of aircraft components and jet engines. The Select Equity Group of Robert Caruso is the biggest hedge fund holder of the company’s stocks. The overall investment made by this hedge fund in this stock was more than $88 million in the September quarter. Recently, an insider bought around 978 shares of the company each at $111, and till then the value of stock increases by 24%. This is not the end, there are many more Space Stocks on the list. If you want to check out those, then please head to 16 Best Space Stocks To Buy Now.