Don’t Sleep on These 3 Space Stocks That Will Mint Millionaires


  • Economic stability is bolstering optimistic views among economists and analysts.
  • Virgin Galactic (SPCE): Advanced research with NADA and the European Space industry paired with unique expeditions,
  • Echostar Corporation (SATS): Impressive financials and satellite constellation project with disrupt the cellular network industry.
  • Northrop Grumman (NOC): Contract with NASA allows for the production of vehicles and orbit stations.
space stocks to buy - Don’t Sleep on These 3 Space Stocks That Will Mint Millionaires

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The National Association for Business Economics (NABE) latest survey reveals that nearly seven in 10 economists have confidence in the Federal Reverse’s ability to achieve a soft landing for the United States economy. There has been optimism among economists that the U.S. economy will recover in the foreseeable future. The robust American job marke has strong hiring trends and a historically low unemployment rate along with a consistent growth in consumer spending. Having said that, investors have now set their eyes to the stars with space stocks to buy.

This economic stability sets the stage for growth in various sectors, including the space industry, where increased investor interest is anticipated. Space stocks are expected to flourish driven by advancements in space technology, and these three stocks are at the forefront of long-term growth and return to mint your status to a millionaire. 

Virgin Galactic (SPCE)

spce stock
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Virgin Galactic (NYSE:SPCE) is a lead research space travel company that has services for trips to outer space. So far, the company has seven launches which is one of the most in its industry.

Virgin Galactic has had a strong quarter. Annual revenue is up 1283.19%, or $3.29 million, with a 14.78% YoY revenue growth being 47.22% more than the sector median of 10.04%. In addition, forward revenue growth increased by 117.08%, 1340.20% more than the sector median of 8.13%. These metrics indicate that the company is growing consistently and with high profitability.

Due to Virgin Galactic’s advanced research and unique expeditions, SPCE stock at merely $2.00 per share has substantial growth opportunities for investors. This easily earns its spot on our list of space stocks to buy.

EchoStar Corporation (SATS)

EchoStar Corporation (NASDAQ:SATS) is a global provider of satellite communication solutions. The company is pioneering secure communications technologies through its Hughes Network Systems and EchoStar Satellite Services business segments.

The satellite market is forecasted to grow at a 6.5% CAGR from $3.2 billion in 2021 to $4.7 billion by 2028. This growth is bolstered from advancements in satellite communication being integrated in air traffic management, customized land mobile radio broadcasting and aeronautical satellite communication.

EchoStar has healthy financials, with $453 million in revenue for Q3 2023 beating analyst estimates by $900,000. The company has strong indicators of profitability with a 56.9% gross profit margin paired with a $1.9 billion cash and short term assets growing 25.7% YoY. It also has a $92.7 million FCF growing at a 1-year 144.1% CAGR.

EchoStar has a project that poises itself for future growth. The company is currently in a partnership with Astro Digital, a small satellite systems manufacturing company. The goal for the partnership is to construct a 28 satellite constellation for long range 5G mobile networks. This project is one of the first ever extra-terrestrial 5G networks, allowing for global coverage of 5G from space. A traditional 5G cell tower is limited by its range, only allowing certain customers to have 5G network access. However, global 5G has the capability to set EchoStar up for further partnerships with the cellular network industry in the future.

With SATS up 11.21% YTD, SATS is a worthwhile aerospace stock to invest in because of advancements that enable satellite market growth and its disruptive global 5G project. If you are looking for space stocks to buy, you can’t go wrong with this one.  

Northrop Grumman Corporation (NOC)

Northrop Grumman Corporation (NYSE:NOC) is an American multinational defense and aerospace company. Yahoo! Finance reports 18 analysts predicting a 1-year price range on NOC between $384 and $615, with a median of $502. 

Northrop Grumman is poised for further revenue growth from its key contracts thus far. The company gained another $36 million after a price adjustment on a $935 million dollar contract with NASA. The company early this for developing NASA’s lunar orbit station: Gateway. Northrop Grumman has partnered with Raytheon Technologies to take on a contract from the Defense Advanced Research Projects Agency (DARPA). They gained this for developing and testing Hypersonic Air-Breathing Weapon Concept (HAWC) vehicles. This contract is in addition to the group’s other joint contract from the U.S. Army to advance its Precision Strike Missile System, which will all bolster well for Northrop Grumman long term.

NOC is one of the top space stocks to buy. It is capable of making you a millionaire. Healthy financials and the contracts mentioned above are all reasons to buy this stock.

On the date of publication, Michael Que did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

The researchers contributing to this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.

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