5 Best Space Stocks To Buy According To Hedge Funds

4. Howmet Aerospace Inc. (NYSE:HWM)

Number of Hedge Fund Holders: 47

Howmet Aerospace Inc. (NYSE:HWM) is a Pennsylvania-based firm that markets engineering solutions for the aerospace industry. It is ranked fourth on our list of 11 best space stocks to buy according to hedge funds.

On September 27, investment advisory UBS initiated coverage of Howmet Aerospace Inc. (NYSE:HWM) stock with a Buy rating and a price target of $40, noting the firm was attractively positioned to benefit from a recovery in the aerospace sector. 

At the end of the second quarter of 2021, 47 hedge funds in the database of Insider Monkey held stakes worth $3.8 billion in Howmet Aerospace Inc. (NYSE:HWM), down from 51 in the preceding quarter worth $3.9 billion.

In its Q4 2020 investor letter, FPA Crescent Fund, an asset management firm, highlighted a few stocks and Howmet Aerospace Inc. (NYSE:HWM) was one of them. Here is what the fund said:

“Howmet saw its stock price decline by around two-thirds from their Q1 2020 highs. Howmet’s price increased about three times from its low and ended the year at its all-time high. The value of its necessary and large market share business did not fluctuate as much as its stock price.”