5 Best Fusion Energy Development Stocks to Buy

4. Huntington Ingalls Industries, Inc. (NYSE:HII)

Short Percentage of Shares Outstanding: 2.20% 

On June 22, Huntington Ingalls Industries, Inc. (NYSE:HII) announced that it has been awarded a $418 million contract to provide repair and maintenance services for shipboard-based elevators installed on U.S. Navy aircraft carriers and amphibious ships. The five-year, indefinite-delivery/indefinite-quantity contract was awarded by the Naval Sea Systems Command and will be executed by HII’s Mission Technologies division. Under the agreement, the company will deliver engineering, maintenance, and technical repair support for elevators, cargo handling equipment, and associated systems, helping enhance the operational readiness of the U.S. Navy fleet.

On May 18, Citi lowered its price target on Huntington Ingalls Industries, Inc. (NYSE:HII) to $405 from $441 while maintaining a Buy rating on the shares. The firm updated its outlook for the aerospace and defense sector, stating that it does not expect an immediate recovery in share prices without greater geopolitical stability in the Middle East. However, Citi believes the recent weakness has created attractive buying opportunities and expects aerospace stocks to recover first, followed by defense companies such as HII.

Huntington Ingalls Industries, Inc. (NYSE:HII) was established as an independent public company in 2011. Headquartered in Newport News, Virginia, it designs and builds nuclear-powered aircraft carriers and submarines. It produces and partners with commercial fusion developers, utilizing techniques like metal powder bed fusion and custom alloy development to produce highly complex, heavy-duty reactors and magnet components.