Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS – Get Rating) was the target of a large drop in short interest in September. As of September 15th, there was short interest totalling 2,700,000 shares, a drop of 19.2% from the August 31st total of 3,340,000 shares. Based on an average daily volume of 797,600 shares, the days-to-cover ratio is presently 3.4 days. Currently, 2.2% of the company’s stock are short sold.
Kratos Defense & Security Solutions Stock Performance
Shares of Kratos Defense & Security Solutions stock traded down $0.23 during trading hours on Friday, reaching $10.16. 759,138 shares of the stock traded hands, compared to its average volume of 764,948. Kratos Defense & Security Solutions has a one year low of $10.13 and a one year high of $23.51. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -50.80 and a beta of 0.81. The company has a quick ratio of 2.22, a current ratio of 2.74 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average price of $13.31 and a 200 day moving average price of $14.95.
Kratos Defense & Security Solutions (NASDAQ:KTOS – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The aerospace company reported $0.03 earnings per share for the quarter. The business had revenue of $224.20 million for the quarter, compared to analysts’ expectations of $210.57 million. Kratos Defense & Security Solutions had a negative net margin of 3.07% and a positive return on equity of 2.00%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.04 EPS. On average, equities research analysts expect that Kratos Defense & Security Solutions will post 0.18 earnings per share for the current fiscal year.
Insider Buying and Selling at Kratos Defense & Security Solutions
In other news, CEO Eric M. Demarco sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $14.37, for a total transaction of $143,700.00. Following the sale, the chief executive officer now owns 622,967 shares in the company, valued at $8,952,035.79. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Eric M. Demarco sold 10,000 shares of the stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $14.37, for a total transaction of $143,700.00. Following the sale, the chief executive officer now directly owns 622,967 shares of the company’s stock, valued at $8,952,035.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Phillip D. Carrai sold 6,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $15.00, for a total transaction of $90,000.00. Following the transaction, the insider now owns 166,633 shares in the company, valued at approximately $2,499,495. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,000 shares of company stock worth $613,190. 2.06% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Ensign Peak Advisors Inc bought a new stake in shares of Kratos Defense & Security Solutions during the 4th quarter valued at $269,000. Charles Schwab Investment Management Inc. raised its stake in Kratos Defense & Security Solutions by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 974,194 shares of the aerospace company’s stock valued at $18,900,000 after purchasing an additional 48,369 shares during the period. Renaissance Technologies LLC bought a new position in Kratos Defense & Security Solutions in the 4th quarter worth approximately $3,542,000. Geode Capital Management LLC grew its holdings in Kratos Defense & Security Solutions by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 2,177,488 shares of the aerospace company’s stock valued at $42,243,000 after buying an additional 73,130 shares in the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of Kratos Defense & Security Solutions by 27.7% during the fourth quarter. Guggenheim Capital LLC now owns 269,250 shares of the aerospace company’s stock valued at $5,224,000 after buying an additional 58,458 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc operates as a government contractor of the U.S. Department of Defense. The company operates through two segments, Kratos Government Solutions and Unmanned Systems. The Kratos Government Solutions segment offers microwave electronic products, space and satellite communications, training and cybersecurity/ warfare, C5ISR/ modular systems, turbine technologies, and defense and rocket support services.
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Read More: Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) Short Interest Update