On August 4, Kratos Defense & Security Solutions rose 5.87% in regular trading, trading at $51.18/share, with turnover of $37.07 million. The rally came ahead of the company's quarterly earnings report scheduled for release after market close.

The stock was buoyed by a series of major contract awards and capacity expansion milestones. The company recently secured an approximately $156 million sole-source contract from the U.S. Department of Energy's Office of Secure Transportation for mobile counter-drone systems, as well as an approximately $100 million sole-source prime contract for a space domain awareness system. On the production front, Kratos opened a 167,000-square-foot advanced manufacturing facility in York, Pennsylvania, with plans to invest over $7 million in new equipment, while also expanding its Oklahoma City facility to accelerate production of Valkyrie, Firejet, and other jet drone systems. Additionally, the company completed its $50 million hypersonic payload integration facility in Indiana ahead of schedule. Wedbush initiated coverage with an Outperform rating and $85 price target, while JPMorgan upgraded the stock to Overweight.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)