Kratos Defense & Security Solutions (NASDAQ:KTOS) Shares Down 5.7% – Here’s What Happened

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)’s share price dropped 5.7% during trading on Thursday . The company traded as low as $29.09 and last traded at $29.24. Approximately 1,279,422 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 2,123,328 shares. The stock had previously closed at $31.01.

Wall Street Analysts Forecast Growth

KTOS has been the subject of a number of research analyst reports. StockNews.com upgraded Kratos Defense & Security Solutions from a “sell” rating to a “hold” rating in a research note on Wednesday, November 27th. JMP Securities raised their price objective on Kratos Defense & Security Solutions from $30.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 4th. Robert W. Baird lifted their target price on Kratos Defense & Security Solutions from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, January 14th. Truist Financial lifted their target price on Kratos Defense & Security Solutions from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, B. Riley raised Kratos Defense & Security Solutions from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $26.00 to $35.00 in a report on Monday, January 13th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.30.

Kratos Defense & Security Solutions Price Performance

The company has a quick ratio of 2.61, a current ratio of 3.22 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $4.10 billion, a PE ratio of 271.63 and a beta of 1.10. The stock has a 50-day moving average price of $30.05 and a 200 day moving average price of $25.82.

Insider Buying and Selling

In other Kratos Defense & Security Solutions news, insider Steven S. Fendley sold 7,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $26.51, for a total transaction of $185,570.00. Following the transaction, the insider now owns 349,406 shares of the company’s stock, valued at approximately $9,262,753.06. The trade was a 1.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David M. Carter sold 4,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $26.49, for a total value of $105,960.00. Following the transaction, the insider now directly owns 103,430 shares in the company, valued at $2,739,860.70. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,044 shares of company stock worth $2,576,338. 2.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kratos Defense & Security Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its stake in Kratos Defense & Security Solutions by 582.3% during the third quarter. Farther Finance Advisors LLC now owns 1,078 shares of the aerospace company’s stock worth $25,000 after buying an additional 920 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Kratos Defense & Security Solutions by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,284 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 610 shares during the last quarter. Hemington Wealth Management lifted its stake in shares of Kratos Defense & Security Solutions by 86.6% in the 4th quarter. Hemington Wealth Management now owns 1,360 shares of the aerospace company’s stock valued at $35,000 after purchasing an additional 631 shares during the last quarter. Truvestments Capital LLC acquired a new position in shares of Kratos Defense & Security Solutions in the 3rd quarter valued at $39,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Kratos Defense & Security Solutions in the 3rd quarter valued at $53,000. Institutional investors and hedge funds own 75.92% of the company’s stock.

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc engages in the provision of mission critical products, services and solutions for United States national security priorities. It operates through the Kratos Government Solutions (KGS) and Unmanned Systems (US) segments. The KGS segment consists of an aggregation of KGS operating segments, including microwave electronic products, space, satellite and cyber, training solutions.