Treasure Hunt: 3 Space Stocks Wall Street Hasn't Discovered Yet

Industry Overview - The global space economy is projected to exceed $1 trillion by 2040, driven by increased governmental and private investment in space exploration [1] - Private investment in space startups has surged, with venture capital funding reaching new heights, supporting various space-related activities [1] Company Analysis: AST SpaceMobile (ASTS) - AST SpaceMobile aims to provide 5G connectivity to remote areas using low-earth satellites and has made progress toward the commercial launch of its space-based cellular broadband network [2] - The company signed a milestone 6-year commercial agreement with AT&T, expecting to deliver its first 5 Block 1 satellites for nationwide service in the U.S. [2] - In Q1 2024, ASTS reduced operating expenses and ended the quarter with $212 million in cash, with access to additional liquidity [3] Company Analysis: Howmet Aerospace (HWM) - Howmet Aerospace specializes in producing components for aerospace and defense applications, reporting record quarterly revenue of $1.82 billion in Q1 2024, a 14% increase year-over-year [5] - The company experienced 23% growth in commercial aerospace, with adjusted EBITDA rising 21% to $437 million and EPS growing 36% to 57 cents [5] - HWM has a solid balance sheet with low leverage, generating $95 million in Q1 free cash flow and returning $171 million to shareholders through buybacks and dividends [5][6] Company Analysis: Spire Global (SPIR) - Spire Global provides space-based data and analytics through its constellation of nanosatellites, achieving a 6% year-over-year revenue growth to $25.7 million in Q1 2024 [7] - The company improved its non-GAAP operating loss by 28% to ($7.0 million) and is approaching breakeven on adjusted EBITDA [7] - Spire has a contracted revenue backlog of $195.7 million and expects Q2 revenue growth to accelerate over 20% sequentially, with positive adjusted EBITDA anticipated [7][8]