5 top satellite stocks to buy in 2024 | finder.com (2024)

The best satellite stocks depend on your portfolio and investment goals — while volatility can be ideal for day traders, long-term investors will want to look to stocks with steadier gains over time.

5 popular satellite stocks picks to buy in 2024

We round up a selection of stocks in or related to the space industry, weighting the list more heavily towards popular mid- and large-cap US stocks.

1. Iridium Communications (IRDM)
2. ViaSat (VSAT)
3. EchoStar Corporation (SATS)
4. Maxar Technologies (MAXR)
5. Gilat Satellite Networks (GILT)

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The satellite stocks industry is affected by a range of complex factors such as trade policies, regulations, and fluctuating supply and demand. So when considering satellite stocks to buy, it's important that you have access to vital information about a company's financial health, leadership team, and market positioning.

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How to invest in satellite stocks

1. Choose an online stock trading platform. Choose from our Top Picks above, use our comparison table below or jump straight to the best stock trading apps of 2024.
2. Sign up for an account. Provide your personal information and sign up.
3. Set up a funding method to pay for the transaction. Deposit funds into your account by linking your banking information.
4. Choose the stocks you want to buy. Search for the stock by name or ticker symbol like IRDM or VSAT.
5. Place your order. Buy the stock. It's that simple.

Take a deeper dive into satellite stocks

If you're interested in investing in the space industry, take a closer look at what companies in this industry do and how the stocks have historically performed. Keep in mind that positive past performance doesn't guarantee that a stock will continue to rise in the future.

1. Iridium Communications (IRDM)

Iridium Communications Inc. provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services.

Iridium Communications stock opened the day at $26.18 after a previous close of $26.16. The latest price was $25.84 (25-minute delay). Iridium Communications is listed on the NASDAQ, has a trailing 12-month revenue of around USD790.7 million and employs 760 staff.

• Market capitalization: $3,203,187,456
• P/E ratio: 218
• PEG ratio: 1.42

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2. ViaSat (VSAT)

Viasat, Inc. provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protocol services to consumers and businesses; in-flight entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.

ViaSat stock opened the day at $18.09 after a previous close of $18.09. The latest price was $17.76 (25-minute delay). ViaSat is listed on the NASDAQ, has a trailing 12-month revenue of around USD$3.8 billion and employs 6,800 staff.

• Market capitalization: $2,267,038,720
• PEG ratio: 94.32

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3. EchoStar Corporation (SATS)

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.

EchoStar Corporation stock opened the day at $14.25 after a previous close of $14.25. The latest price was $14.20 (25-minute delay). EchoStar Corporation is listed on the NASDAQ, has a trailing 12-month revenue of around USD$17 billion and employs 15,300 staff.

• Market capitalization: $3,869,145,856
• PEG ratio: 13.41

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4. Maxar Technologies (MAXR)

Maxar Technologies Inc. provides space solutions; and secure, precise, and geospatial intelligence solutions in the United States, Asia, South America, Europe, the Middle East, Australia, Canada, and internationally. It operates through two segments, Earth Intelligence and Space Infrastructure.

Maxar Technologies is listed on the NYSE, has a trailing 12-month revenue of around USD$1.6 billion and employs 4,600 staff.

• Market capitalization: $4,003,368,448

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5. Gilat Satellite Networks (GILT)

Gilat Satellite Networks Ltd. , together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services.

Gilat Satellite Networks stock opened the day at $5.51 after a previous close of $5.43. The latest price was $5.61 (25-minute delay). Gilat Satellite Networks is listed on the NASDAQ, has a trailing 12-month revenue of around USD$266.1 million and employs 1,183 staff.

• Market capitalization: $309,602,304
• P/E ratio: 13.2439
• PEG ratio: 0

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Bottom line

While it’s possible to turn a profit investing in satellite stocks, keep in mind that — like any investment — satellite stocks are not immune to risk. These stocks are subject to fluctuating conditions — both in the market and in the space industry, so carefully vet your picks before you invest. And if you’re new to investing, or if it’s been awhile since you’ve taken a critical look at your investing accounts, compare brokers to make sure you’re getting the best features in your trading account.