4 US space stocks to explore on the dip: SPCE, MAXR, MNTS & BA - Kalkine Media

August 20, 2022 06:00 AM PDT | By Mridul Gogoi
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Highlights:

  • Virgin Galactic Holdings, Inc. (NYSE: SPCE) reported a net loss of US$ 111 million in Q2 2022.
  • Maxar Technologies Inc. (NYSE: MAXR) reported Q2 2022 revenue of US$438 million.
  • Momentus Inc. (NASDAQ: MNTS) has a market capitalization of US$ 168.7 million. 

The US Federal government announced supporting the commercial space sector, which could help companies in this sector expand their scale of operations.

Vice President Kamala Harris recently presided over a meeting with the private space sector partners. She said the US government would support them to augment innovation and shape the country's future in space.

With so much happening in the space sector, we explore four space stocks curated by Kalkine Media® and see their performances:

Virgin Galactic Holdings, Inc. (NYSE: SPCE)

Virgin Galactic is a US spaceflight company involved in human spaceflight for private people and researchers. Richard Branson founded it, and his British Virgin Group holds a stake of 11.9 per cent in it. 

The California-based Virgin Galactic has a US$ 1. 8 billion market cap. The SPCE stock decreased by over 48 per cent in 2022. On a yearly basis, it tanked by 72.11 per cent. Pandemic woes, delays in testing, and space launches have come to hit the company in the recent past.

Virgin Galactic posted its second-quarter results for fiscal 2022, reporting a net loss of US$ 111 million compared to a net loss of US$94 million in the previous year's second quarter.

The company said that its cash and cash equivalents and marketable securities amounted to US$ 1.1 billion in the quarter ended June 30, 2022.

Maxar Technologies Inc. (NYSE: MAXR)

The space technology company Maxar Technologies specializes in manufacturing earth observation radar, on-orbit servicing satellites, and other satellite-related products.

In May this year, Maxar bagged a 10-year contract valued at approximately US$ 3 billion with the National Reconnaissance Office (NRO), which was a part of the Electro-Optical Commercial Layer Program.

The US$ 1.2 billion company, Maxar, paid a quarterly dividend of US$ 0.01. Shares of Maxar Technologies fell below seven per cent in 2022 so far. Over the past month, MAXR stock saw an increase of 13.9 per cent.

Maxar achieved consolidated revenue of US$ 438 million in Q2 2022. Its net loss for the reported quarter climbed to US$ 30 million.

Momentus Inc. (NASDAQ: MNTS)

Momentus Inc. is a US commercial sector company mainly providing infrastructure services in space activities. The company has a market valuation of US$ 168.7 million.

In 2022, MNTS stock fell below 43 per cent. On a year-over-year basis, the fall had been steeper at close to 74 per cent.

In April 2022, Momentus announced a deal with Elon Musk's SpaceX to partake in four upcoming SpaceX launches into orbit and showcase a bevy of its developmental technologies.

In the last six months, shares of Momentus increased by 1.29 per cent. Momentus reported total assets valued at US$ 133.8 million in Q2 FY22. In the corresponding quarter in 2021, it had registered total assets of US$ 185.9 million.

SPCE to MAXR: 4 US space stocks to explore on the dipSource: ©Kalkine Media®; © Canva via Canva.com

Boeing Company (NYSE: BA)

The Boeing Company is a US aerospace and defense firm operating in four segments. It involves designing, building, and selling airplanes, rotorcrafts, rockets, satellites, etc.

Boeing company has a market valuation of US$ 99.3 billion. The Boeing Company has an annual dividend of US$ 2.055.

BA stock slid more than 17 per cent year-to-date. However, over the past month, it has seen a surge of more than 16 per cent.

The Boeing Company announced a new Boeing R&D center in Japan early this month. This initiative's price focus would be sustainable aviation fuels (SAF), digitization, composites, robotics, electric/hydrogen propulsion, etc.

In the second quarter results for fiscal 2022, Boeing Company posted a revenue of US$ 16.7 billion. Its GAAP earnings per share were US$ 0.32 in the reported quarter. Revenue for the same quarter in 2021 was US$ 16.9 billion.

It also registered a Q2 2022 operating cash flow of US$ 0.1 billion and said that positive free cash flow would continue for 2022.  

Bottom line:

Some investors might consider exploring space stocks on the dip but should always focus on a stock's technical and fundamental aspects before picking them.


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