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

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on KTOS. Jefferies Financial Group increased their target price on Kratos Defense & Security Solutions from $25.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday, December 13th. B. Riley raised Kratos Defense & Security Solutions from a “neutral” rating to a “buy” rating and increased their target price for the stock from $26.00 to $35.00 in a research note on Monday, January 13th. Truist Financial upped their price target 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. StockNews.com upgraded Kratos Defense & Security Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. Finally, Robert W. Baird upped their price target 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. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.30.

Kratos Defense & Security Solutions Trading Down 4.9 %

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

Insider Activity

In related news, VP De Burgreen Maria Cervantes sold 19,528 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $30.00, for a total transaction of $585,840.00. Following the transaction, the vice president now owns 51,121 shares in the company, valued at $1,533,630. This trade represents a 27.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Deanna H. Lund sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $32.89, for a total value of $197,340.00. Following the transaction, the chief financial officer now owns 292,873 shares in the company, valued at $9,632,592.97. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,044 shares of company stock worth $2,576,338. 2.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Parvin Asset Management LLC acquired a new stake in Kratos Defense & Security Solutions during the 4th quarter worth approximately $151,000. Comerica Bank lifted its position in Kratos Defense & Security Solutions by 7.0% during the 4th quarter. Comerica Bank now owns 126,501 shares of the aerospace company’s stock worth $3,337,000 after acquiring an additional 8,234 shares during the period. Northern Trust Corp lifted its position in Kratos Defense & Security Solutions by 2.0% during the 4th quarter. Northern Trust Corp now owns 1,798,339 shares of the aerospace company’s stock worth $47,440,000 after acquiring an additional 35,223 shares during the period. The Manufacturers Life Insurance Company lifted its position in Kratos Defense & Security Solutions by 5.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 80,760 shares of the aerospace company’s stock worth $2,130,000 after acquiring an additional 4,377 shares during the period. Finally, Gerber Kawasaki Wealth & Investment Management acquired a new stake in Kratos Defense & Security Solutions during the 4th quarter worth approximately $457,000. Hedge funds and other institutional investors own 75.92% of the company’s stock.

Kratos Defense & Security Solutions Company Profile

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.