Key Space Stocks to Monitor as of August 2, 2023

Investors are focusing on five significant companies within the space sector as of August 2, 2023. According to MarketBeat’s stock screener tool, these companies include Alphabet Inc., Berkshire Hathaway Inc., Boeing Company, GE Aerospace, and Howmet Aerospace. The rising interest in space stocks reflects the potential for growth in the commercial space sector, driven by government contracts, technological advancements, and changing regulations.

Alphabet Inc. Shows Mixed Trading Activity

Alphabet Inc. (GOOGL), the parent company of Google, operates a variety of services and products across multiple regions, including North America, Europe, and Asia-Pacific. The company experienced a slight decline in share price, trading down $2.77 to $189.13 during mid-day trading on Friday. Trading volume reached 34,777,882 shares, compared to an average volume of 38,669,572 shares.

Over the past year, Alphabet’s stock has fluctuated between a low of $140.53 and a high of $207.05. The company maintains a market capitalization of $2.30 trillion and a price-to-earnings ratio of 20.14. Its 50-day moving average currently sits at $178.32, while the 200-day moving average stands at $173.12.

Solid Performance by Berkshire Hathaway

Berkshire Hathaway Inc. (BRK.B) operates globally through its subsidiaries, which are involved in insurance, freight rail transportation, and utilities. The stock gained $0.89 on Friday, reaching $472.77, with a trading volume of 5,282,567 shares, surpassing its average volume of 4,084,114.

Berkshire Hathaway’s stock has a 12-month range from a low of $406.11 to a high of $542.07. The company has a market capitalization of approximately $1.02 trillion and a price-to-earnings ratio of 12.60. The 50-day moving average is $485.54, while the 200-day average is $496.60.

Boeing Continues to Navigate Market Challenges

The Boeing Company (BA), active in commercial and military aviation, as well as space systems, saw its stock rise by $0.10 to $221.94 during trading on Friday. The company recorded a trading volume of 8,556,620 shares, compared to an average of 7,665,790 shares.

Boeing’s market capitalization stands at $167.82 billion, with a negative price-to-earnings ratio of -13.44. The stock has a 52-week low of $128.88 and a high of $242.69. The 50-day moving average is $215.23, while the 200-day moving average is $188.67.

GE Aerospace Gears Up for Future Innovation

GE Aerospace (GE), a leader in aerospace technology, is also attracting attention. On Friday, the stock fell by $1.59 to $269.49, with a trading volume of 4,380,267 shares, below its average of 6,337,291.

Over the past year, GE Aerospace has traded between $150.20 and $274.94. The company’s market capitalization is approximately $285.78 billion, with a price-to-earnings ratio of 37.59. Its 50-day and 200-day moving averages are $252.13 and $218.37, respectively.

Howmet Aerospace Sees a Positive Surge

Howmet Aerospace Inc. (HWM) focuses on engineered solutions for the aerospace and transportation sectors. The stock increased by $4.63 on Friday, bringing it to $184.40, with a trading volume of 5,089,161 shares, significantly higher than its average of 2,663,346 shares.

With a market cap of $74.44 billion, Howmet Aerospace has a price-to-earnings ratio of 53.92. The stock’s range over the past year has been between $85.39 and $193.26. The company’s 50-day and 200-day moving averages are $178.35 and $149.14, respectively.

The focus on these companies reflects broader trends in the space sector, as investors continue to seek opportunities in the rapidly evolving landscape of space technology and services.