The 3 Best Space Stocks to Buy in April 2024

Stocks to buy

Government contracts and regulations highly influence space stocks. Yet high-growth initiatives continue to emerge.

New 3D printing and materials technologies are increasingly making space stocks more viable. Also, investors should be comfortable with a higher risk due to heavy capital needed for initial lift off. 

In fact, the space-related market is heading for steady growth in satellite deployment, science applications and exploration. According to a CoherentMI report, forecasted CAGR is 8.9%, from $518.48 billion market size in 2023 to $1.1 trillion by 2030.

Let’s examine three best space stocks to buy in April that aren’t far off from their 52-week lows.

Rocket Lab USA (RKLB)

Source: Andrzej Puchta /

Besides SpaceX going public, Rocket Lab USA (NASDAQ:RKLB) has served as the next best exposure to space stocks. Having deflated from its 52-week high of $8.05 by 95% to present $4.11, RKLB is now in discounted territory.

The company’s biggest flop happened last September with the failure of its Electron rocket to deliver satellites for Capella Space. To secure more funding and pay off existing debt, Rocket Lab closed the private offering of $355 million worth of convertible senior notes in February.

However, in the space sector, failures happen. Despite some setbacks, Rocket Lab managed to beat its previous launch record in 2023 with 10 launches. Likewise, the new record was set for signed launch deals at 18 Electron and 7 HASTE contracts. HASTE is for the emerging suborbital market space.

In 2024, Rocket lab is avoiding mission failure, having launched multiple satellites within the “Four Of A Kind” mission for Spire Global and NorthStar Earth & Space. Without any profitable quarters during 2023, Rocket Lab’s gross margin improved from 12% in Q1 to 26% in Q4. 

Twelve months ahead, 10 analyst forecasts pulled from Nasdaq view the average RKLB price target at $8 versus the current $4.11 per share. 

Boeing (BA)

Source: vaalaa / Shutterstock

Despite negative public spotlight throughout 2024, Boeing (NYSE:BA) is now 8.7% above its 52-week low of $176.25 compared to present $193. It is a rare market opportunity when wide moat stocks such as BA are so heavily discounted.

Playing the key role in the U.S. military machine, Boeing isn’t going anywhere, regardless of scandals or CEO stepping down. As a space stock, the company has been NASA’s key player in developing the CST-100 Starliner to deliver astronauts to the International Space Station (ISS).

Within its Defense, Space & Security (BDS) division, the Boeing Satellite Development Center (BDC) deployed over 50 satellites to date. Also, other investors are well-aware of Boeing’s infrastructural role in military and aero-space. So, it is likely that its 52-week low will not be revisited.

Not accounting for major airplane crashes or more suspicious whistleblower deaths, 22 analysts pulled by Nasdaq view the average BA price target at $243.78 vs current $193 per share.

Spire Global (SPIR)

Source: T. Schneider /

Spire Global (NYSE:SPIR) has had a massive rally over the year. Presently priced at $12, the stock is up 262% from its 52-week low of $3.31 per share. Although far from being discounted, investors should understand why Spire Global is hot and if the trend is likely to continue.

Not directly involved with launches, Spire delivers space-to-cloud data analytics to track hundreds of satellites orbiting Earth. Having a recurrent service model for both private and government sectors, such as NASA and NOAA, the company handles real-time satellite data and transforms it to an actionable format to customers.

Most recently in March, Spire Global partnered with Nvidia (NASDAQ:NVDA)to deliver AI-powered weather predictions. The company concluded 2023 with the 10th consecutive quarterly revenue growth. It showed 50% operating loss improvement from $16.3 million in Q4 of 2022 to $8.2 million in Q4 of 2023.

Based on insights from seven analysts aggregated by Nasdaq, SPIR could go even higher. The average price target is $22 versus its current $12 per share. 

On the date of publication, Shane Neagle did not hold (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.

Shane Neagle is fascinated by the ways in which technology is poised to disrupt investing. He specializes in fundamental analysis and growth investing.

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