Kratos defense VP sells $585k in stock By Investing.com

Maria Cervantes de Burgrin, vice president and corporate controller of Kratos Defense (NASDAQ:) & Security Solutions, Inc. (NASDAQ:KTOS), recently sold a significant portion of her holdings in the company.According to the latest SEC filing, Cervantes de Burgrin sold a total of 19,528 shares On January 7, 2025, at a price of $30 per share, which is $585,840.

The transactions were made as part of a 10b5-1 trading plan adopted on June 6, 2024. After these sales, Cervantes still owns 51,121 shares. The filing also reports additional transactions on January 3 and 4, inclusive the acquisition of shares through the acquisition of restricted stock and shares held to cover tax liabilities – general $172,904 at a price of $27.48 per share InvestingPro:Kratos maintains a healthy financial position with an overall health rating of “GOOD”, and analysts have identified 12 additional key insights into the company’s performance and outlook.

In other recent news, Kratos Defense & Security Solutions has secured a number of significant contracts that highlight its growth trajectory and strong financial health Transaction: (JO:) A potential $1.45 billion agreement over five years for the MultiService Advanced Capability Hypersonic Test Bed (MACH-TB) 2.0, marking the largest contract in the company’s history.In addition, Kratos is a $6.5 million contract secure funding from the Defense Advanced Research Projects Agency (DARPA) for hypersonic flight testing.

Kratos is also set to develop a supersonic engine with GE Additive and StandardAero, which is fully funded by customer Boom Supersonic.This collaboration is part of a partnership with Boom Supersonic, a startup focused on supersonic jet travel. on

Research firms acknowledged the significance of these developments for Kratos. BTIG maintained a neutral rating on Kratos stock, while Jefferies and Raymond: (NS:) James maintained their Hold and Strong Buy ratings on Kratos stock, respectively, reflecting a positive outlook on the company’s growth potential in the defense sector.

Kratos reported solid Q3 2024 revenue of $275.9 million, marking 8.7% organic growth in drone systems and beating estimates. The company also forecasts 10% annual revenue growth in 2025 the company’s strong financial health and its ability to secure major defense contracts.

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