5 Best Space Stocks to Buy According to Hedge Funds

In this piece, we will take a look at the five best space stocks to buy according to hedge funds. For more stocks, head on to 10 Best Space Stocks to Buy According to Hedge Funds.

5. The Boeing Company (NYSE:BA)

Number of Hedge Fund Holders: 51

The Boeing Company (NYSE:BA) is one of the largest aerospace companies in the world. It caters to the needs of the commercial and defense aviation sectors, alongside manufacturing spacecraft and other systems and subsystems for space exploration. The company is headquartered in Chicago, Illinois, the United States.

The Boeing Company (NYSE:BA) is a central part of NASA’s Artemis program. The company has built the Space Launch System (SLS) rocket which will be the workhorse of the program. As if this weren’t enough, it has also helped manufacture two spacecraft for NASA – under the Commercial Crew Program (CCP) and Artemis.

The first of these is the Starliner spacecraft which will launch both crewed and cargo missions to the International Space Station (ISS). The second is Orion, which will be the only spacecraft that is capable of launching on the SLS with astronauts for the first leg of their journey to the Moon. 51 out of the 895 hedge funds polled by Insider Monkey during Q2 2022 had held a stake in The Boeing Company (NYSE:BA).

Out of these, Andreas Halvorsen’s Viking Global is The Boeing Company (NYSE:BA)’s largest investor. It owns 1.3 million shares that are worth $190 million.

Meridian Funds mentioned the company in its Q2 2022 investor letter. Here is what the fund said:

“We similarly remained invested in largely out-of-favor The Boeing Company (NYSE:BA), a global leader in developing and producing commercial jet aircraft. Due to some self-inflicted wounds and a bit of bad luck, as well as dramatic declines in air travel early in the pandemic, investor sentiment for this company has simply been awful. As part of our contrarian thinking, however, we view the business as critical to global transportation needs and see multiple catalysts to improve sentiment. In addition to the current surge in air travel worldwide, ramped up production of the 737 MAX aircraft and the pending restart of 787 Dreamliner deliveries should help turn broader sentiment. Additionally, we anticipate a meaningful inflection in cash flow as Boeing starts delivering aircraft currently in storage as well as the eventual expansion of its production in both core platforms.”