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Steven S. Fendley, President of the U.S. Division at Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS), recently sold 7,000 shares of the company’s common stock. The shares were sold at a weighted average price of $33.156, resulting in a total transaction value of approximately $232,092. This transaction was executed under a 10b5-1 trading plan, which Fendley adopted in May 2024. Following the sale, Fendley retains ownership of 365,461 shares, which includes about 1,921 shares held through the company’s 401(k) plan. The company maintains strong financial health with a current ratio of 3.22 and holds more cash than debt on its balance sheet. For deeper insights into insider transactions and comprehensive financial analysis, investors can access the detailed Pro Research Report available on InvestingPro, which covers over 1,400 US stocks.
In other recent news, Kratos Defense & Security Solutions has made significant strides in the defense sector, with a series of contract wins and positive financial growth. The company recently completed a successful demonstration of its autonomous truck platooning system in northern Québec, Canada. This technology, aimed at addressing driver shortages and enhancing safety, has sparked interest in broader industry applications.
Furthermore, Kratos secured a substantial $1.45 billion contract for the Multi-Service Advanced Capability Hypersonic Test Bed (MACH-TB) 2.0, marking the largest contract in the company’s history. This development led to analyst upgrades from Baird and B.Riley, raising their price targets to $40.00 and $35.00 respectively.
Kratos also secured a $6.5 million contract from the Defense Advanced Research Projects Agency (DARPA) for hypersonic flight testing and is set to develop a supersonic engine in collaboration with GE Additive and StandardAero. The company reported robust third-quarter revenues in 2024, reaching $275.9 million, marking an 8.7% organic growth in unmanned systems and surpassing estimates. Kratos is also projecting a 10% year-over-year revenue growth for 2025. These recent developments highlight Kratos’ growth trajectory and capability to secure major contracts within the defense sector.
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