10 Best Military Drone Stocks to Invest In

Published on October 20, 2022 at 10:47 am by Usman Kabir in Hedge Funds, News

In this article, we discuss 10 best military drone stocks to invest in. If you want to read about some more military drone stocks, check out 5 Best Military Drone Stocks to Invest In.

Drone technology has exploded into the mainstream ever since the United States government granted exemptions to companies to operate drones in the fields of insurance, construction, and agriculture, expanding the scope of the drone tech outside the military space. The Federal Aviation Administration also helped devise a regulatory framework for commercial drones to help the market further. Since then, tech firms have been doing all they can to bring drone tech to as many businesses as possible.

However, even as the drone market expands, defense firms like Honeywell International Inc. (NASDAQ:HON), Raytheon Technologies Corporation (NYSE:RTX), and Lockheed Martin Corporation (NYSE:LMT) remain some of the biggest manufacturers of the unmanned air vehicles. According to data collected by Research and Markets, the drone services market size is expected to grow to more than $63 billion by 2025 as consumer drone shipments cross the 30 million mark in 2022.

Even large investment advisors are bullish on the drone sector. Goldman Sachs forecasts the total drone market size will be worth $100 billion in the coming years on the back of the growing demand for drones from the commercial and government sectors. Similarly, Markets and Markets research shows that the drone sector will reach a value of over $58 billion by 2026, growing at a compound annual growth rate of more than 16% from 2021. The market for small drones is also expanding and will reach $22.55 billion in value by 2026.

Our Methodology

The companies that operate in the military drone sector were selected for the list. In order to provide readers with some context for their investment choices, the business fundamentals and analyst ratings for the stocks are also discussed. Data from around 900 elite hedge funds tracked by Insider Monkey in the second quarter of 2022 was used to identify the number of hedge funds that hold stakes in each firm.

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Best Military Drone Stocks To Invest In

10. EHang Holdings Limited (NASDAQ:EH)

Number of Hedge Fund Holders: 2

EHang Holdings Limited (NASDAQ:EH) operates an autonomous aerial vehicle (AAV) technology platform company in the People’s Republic of China, East Asia, Europe, and internationally. It is one of the best drone stocks to invest in. On October 13, EHang Holdings stated that its EH216 AAV has performed successful flight demonstrations in Spain under the European Union’s Air Mobility Urban Large Experimental Demonstration project.

At the end of the second quarter of 2022, 2 hedge funds in the database of Insider Monkey held stakes worth $8.5 million in EHang Holdings Limited (NASDAQ:EH), compared to 2 the preceding quarter worth $12.9 million.

Among the hedge funds being tracked by Insider Monkey, London-based investment firm Marshall Wace LLP is a leading shareholder in EHang Holdings Limited (NASDAQ:EH), with 882,416 shares worth more than $8 million.

Just like Honeywell International Inc. (NASDAQ:HON), Raytheon Technologies Corporation (NYSE:RTX), and Lockheed Martin Corporation (NYSE:LMT), EHang Holdings Limited (NASDAQ:EH) is one of the best drone stocks to monitor.

In its Q1 2021 investor letter, Alger, an asset management firm, highlighted a few stocks and EHang Holdings Limited (NASDAQ:EH) was one of them. Here is what the fund said:

“EHang Holdings Limited (NASDAQ:EH) was among the top detractors from performance. EHang Holdings Limited (NASDAQ:EH) operates an autonomous aerial vehicle (AAV) technology platform in China. It designs, develops, manufactures, sells and operates AAVs, as well as their supporting systems and infrastructure, for a range of industries and applications, including passenger transportation, logistics, smart city management and aerial media solutions. EHang is an opportunity to invest in the state-driven objective of China involving commercializing passenger-grade drone travel and EHang Holdings Limited (NASDAQ:EH) is by far the only AAV operator expected to receive a commercialization permit this year. Domestic rollouts of services starting in 2021 could potentially be a major inflection point in AAV adoption curve. Recently a short report came out attacking the integrity of EHang Holdings Limited (NASDAQ:EH) business practices and the stock has tumbled. Since then, EHang Holdings Limited (NASDAQ:EH) has provided evidence as part of rebutting the claims and an upcoming earnings call could potentially clear the remaining concerns.”

9. AeroVironment, Inc. (NASDAQ:AVAV)

Number of Hedge Fund Holders: 10

AeroVironment, Inc. (NASDAQ:AVAV) designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It is one of the premier drone stocks to invest in. On August 22, RBC Capital analyst Ken Herbert maintained an Outperform rating on AeroVironment, Inc. (NYSE:AVAV) stock and raised the price target to $115 from $100, highlighting that the shares represented more significant upside given the firm’s new contracts.

At the end of the second quarter of 2022, 10 hedge funds in the database of Insider Monkey held stakes worth $181 million in AeroVironment, Inc. (NASDAQ:AVAV), compared to 10 in the previous quarter worth $182 million.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm ARK Investment Management is a leading shareholder in AeroVironment, Inc. (NASDAQ:AVAV), with 1 million shares worth more than $92 million.

8. Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

Number of Hedge Fund Holders: 20

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) operates as a government contractor for the US Department of Defense. It is one of the elite drone stocks to invest in. On September 22, the US Army Tactical Aviation and Ground Munitions awarded AeroVironment a $20.6 million contract for the procurement of Switchable 300 tactical missile systems. The contract will be managed by the US army Contracting Command.

On October 6, Jefferies analyst Sheila Kahyaoglu maintained a Hold rating on Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) stock and lowered the price target to $12 from $16, noting that labor headwinds had the potential to impact the firm’s profits.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm ARK Investment Management is a leading shareholder in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS), with 8.2 million shares worth more than $83 million.

At the end of the second quarter of 2022, 20 hedge funds in the database of Insider Monkey held stakes worth $160 million in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS), compared to 17 in the previous quarter worth $248 million.

7. Joby Aviation, Inc. (NYSE:JOBY)

Number of Hedge Fund Holders: 20

Joby Aviation, Inc. (NYSE:JOBY) is a vertically integrated air mobility company that engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. It is one of the major drone stocks to invest in. On August 10, Joby Aviation announced that it had expanded its existing contract with the US Air Force’s Agility Prime Program. The expansion increased the potential value of the contract by more than $45 million. The contract also widened the company’s defense partnership to include the US Marine Corps.

On August 16, Deutsche Bank analyst Edison Yu maintained a Hold rating on Joby Aviation, Inc. (NYSE:JOBY) stock and lowered the price target to $7 from $8, noting that the company was expecting a difficult time beginning commercial operations in 2024.

Among the hedge funds being tracked by Insider Monkey, London-based investment firm Marshall Wace LLP is a leading shareholder in Joby Aviation, Inc. (NYSE:JOBY), with 620,000 shares worth more than $3 million.

At the end of the second quarter of 2022, 20 hedge funds in the database of Insider Monkey held stakes worth $30 million in Joby Aviation, Inc. (NYSE:JOBY), compared to 30 in the previous quarter worth $79 million.

6. GoPro, Inc. (NASDAQ:GPRO)

Number of Hedge Fund Holders: 25

GoPro, Inc. (NASDAQ:GPRO) develops and sells cameras, mountable and wearable accessories, and subscription services and software in the United States and internationally. It is one of the prominent drone stocks to invest in. On September 13, GroPro revealed that it is offering a sizable discount to anyone willing to sign up for a GoPro subscription after purchasing a new launch of the Hero 11 Black camera. On August 16, the CEO of GoPro stated that its GoPro subscription service had surpassed two million subscribers.

On October 17, Morgan Stanley analyst Erik Woodring maintained an Equal Weight rating on GoPro, Inc. (NASDAQ:GPRO) stock and lowered the price target to $6.10 from $7.30, noting that there was further estimate downside due to a challenging Q3.

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Prentice Capital Management is a leading shareholder in GoPro, Inc. (NASDAQ:GPRO), with 6.9 million shares worth more than $38 million.

At the end of the second quarter of 2022, 25 hedge funds in the database of Insider Monkey held stakes worth $125 million in GoPro, Inc. (NASDAQ:GPRO), compared to 26 in the previous quarter worth $229 million.

In addition to Honeywell International Inc. (NASDAQ:HON), Raytheon Technologies Corporation (NYSE:RTX), and Lockheed Martin Corporation (NYSE:LMT), GoPro, Inc. (NASDAQ:GPRO) is one of the best drone stocks to buy according to hedge funds.

Click to continue reading and see 5 Best Military Drone Stocks to Invest In.

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Published on November 16, 2024 at by Insider Monkey Staff

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