Kratos Defense & Security Solutions (KTOS) – Get Report shares rose on Friday after the defense and aerospace firm was awarded a $950 million contract from the U.S. Air Force.
At last check the shares rose 4.4% to $19.25. Kratos stock is trading at almost four times its 52-week low of $5, set in mid-March. It touched a 52-week high above $22 earlier this month.
The San Diego company won a multiple-award, multilevel security contract for the U.S. Air Force’s Advanced Battle Management System.
Kratos Defense manufactures military drones.
“Our technology will support the Air Force and Space Force with critical interoperability solutions that it needs to engage with peer and near-peer adversaries – connecting weapons, sensors and decision-makers, through common interfaces that can disseminate data to the tactical edge,” President and Chief Executive Eric Demarco said in a statement.
“This is a crucial foundation for enabling multidomain