In recent years, the cost of launching a satellite has dropped considerably. This is thanks to billionaires like Elon Musk and Richard Branson investing. Another factor in the rising interest in space by the private sector could be the development of reusable rockets by businesses like SpaceX. By 2040, the global space business might earn over $1 trillion in income, up from $350 billion now. Hedge funds recommend The Boeing Company, Lockheed Martin Corporation, and Raytheon Technologies Corporation as some of the finest space companies to buy right now.
Here is Insider Monkey’s list of the 11 best space stocks to buy according to hedge funds. Maxar Technologies Inc. is a space infrastructure solutions company situated in Colorado. It is ranked eleventh on the list of the top 11 space stocks to purchase based on hedge fund recommendations. Barclays initiated coverage of the firm with an Equal Weight rating and a $35 price target. The company is based in Texas and sells space-based cellular broadband services. With an Overweight rating and a $29 price target, Barclays begins coverage of AST SpaceMobile, Inc. According to analysts, the company represented a tempting investment prospect. Virgin Galactic Holdings, Inc. is ranked ninth among the 11 best space stocks to purchase according to hedge funds on the list. The corporation is a human spaceflight and aerospace company. The company’s headquarters are in New Mexico. With a Buy rating and a $33 price target, Jefferies commenced coverage. Astronics Corporation is an aerospace and defense company situated in New York. It is the eighth best space stock to purchase according to hedge funds on the list of 11 best space stocks to buy. Colliers, an investment advisory firm, raised Astronics Corporation stock to Buy in September. NASA recently awarded Aerojet Rocketdyne Holdings, Inc. a contract to manufacture the Orion engine for deep space missions. It is ranked seventh among the 11 best space stocks to purchase according to hedge funds on the list. Hedge funds rate HEICO Corporation sixth on the list of the 11 greatest space stocks to buy. The company sells electronics to the aircraft industry. Earlier this month, Bank of America raised HEICO Corporation’s shares from Underperform to Neutral. For more details, click 11 Best Space Stocks To Buy According To Hedge Funds.