Art credit according to Jim Gray "I am almost certain that the cover to Space Action 1 is by Lou Cameron; the pose of the guy throwing the punch is pure Cameron. I think it's early, before
his style really developed."
This is positively Cameron on pencils, probably inked by Mastroserio (as was the case in Ace's horror books first half of 1952). This whole issue seems to be a Cameron-Mastroserio collaboration.
Previous indexer stated: Overstreet says Lou Cameron art in this issue, but I only see it (maybe) in a few panels in this story.
Molno pencils per Jim Vadeboncoeur Jr via comicbookplus. Previous indexer credited Lou Cameron.