Kratos Defense & Security Solutions (NASDAQ:KTOS) Trading Down 9.3% – Here’s What Happened

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)’s stock price dropped 9.3% on Monday . The company traded as low as $64.37 and last traded at $65.28. Approximately 5,450,228 shares traded hands during mid-day trading, an increase of 25% from the average daily volume of 4,359,953 shares. The stock had previously closed at $71.94.

Analysts Set New Price Targets

KTOS has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price objective on shares of Kratos Defense & Security Solutions from $93.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Citigroup reiterated a “market outperform” rating on shares of Kratos Defense & Security Solutions in a research report on Tuesday, February 24th. Piper Sandler initiated coverage on Kratos Defense & Security Solutions in a research note on Wednesday, January 21st. They issued a “neutral” rating and a $99.00 price objective on the stock. JonesTrading assumed coverage on Kratos Defense & Security Solutions in a report on Monday, January 5th. They issued a “buy” rating for the company. Finally, Noble Financial reaffirmed an “outperform” rating on shares of Kratos Defense & Security Solutions in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Kratos Defense & Security Solutions has an average rating of “Moderate Buy” and a consensus target price of $98.28.

Kratos Defense & Security Solutions Stock Performance

The stock has a market cap of $12.23 billion, a price-to-earnings ratio of 502.19 and a beta of 1.12. The company’s 50-day simple moving average is $94.97 and its 200-day simple moving average is $88.17. The company has a quick ratio of 3.46, a current ratio of 4.06 and a debt-to-equity ratio of 0.05.

Kratos Defense & Security Solutions (NASDAQ:KTOS) last announced its quarterly earnings data on Monday, February 23rd. The aerospace company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. The company had revenue of $345.10 million during the quarter, compared to the consensus estimate of $327.51 million. Kratos Defense & Security Solutions had a return on equity of 3.34% and a net margin of 1.63%.The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 EPS. Analysts predict that Kratos Defense & Security Solutions, Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Kratos Defense & Security Solutions

In related news, insider Stacey G. Rock sold 4,000 shares of the stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $76.78, for a total value of $307,120.00. Following the completion of the transaction, the insider owned 21,777 shares in the company, valued at $1,672,038.06. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Marie Mendoza sold 1,516 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $88.97, for a total value of $134,878.52. Following the sale, the senior vice president owned 67,926 shares in the company, valued at approximately $6,043,376.22. The trade was a 2.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 373,500 shares of company stock valued at $34,826,678 over the last 90 days. 2.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Kratos Defense & Security Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mcguire Capital Advisors Inc. purchased a new position in Kratos Defense & Security Solutions during the 4th quarter worth approximately $25,000. Bayforest Capital Ltd acquired a new stake in shares of Kratos Defense & Security Solutions in the third quarter worth $32,000. Caitlin John LLC purchased a new position in shares of Kratos Defense & Security Solutions during the third quarter valued at $32,000. Atlantic Union Bankshares Corp raised its position in Kratos Defense & Security Solutions by 7,600.0% during the fourth quarter. Atlantic Union Bankshares Corp now owns 385 shares of the aerospace company’s stock valued at $29,000 after buying an additional 380 shares during the period. Finally, Whittier Trust Co. acquired a new position in Kratos Defense & Security Solutions during the third quarter valued at $38,000. Institutional investors and hedge funds own 75.92% of the company’s stock.

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc (NASDAQ: KTOS) is a technology-driven company that specializes in national security and defense solutions for government and military customers. The firm’s core capabilities span unmanned systems, satellite communications, missile defense, cyber security, and directed-energy weapons. Through its integrated approach, Kratos delivers mission-critical products and services designed to enhance operational readiness and support force modernization initiatives.

In the unmanned systems arena, Kratos develops high-performance aerial platforms used as target drones, low-cost attritable aircraft and experimental stealth demonstrators.