Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) Sees Significant Increase in Short Interest

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 7,030,000 shares, an increase of 38.1% from the February 28th total of 5,090,000 shares. Currently, 4.7% of the shares of the company are short sold. Based on an average daily volume of 2,870,000 shares, the short-interest ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KTOS. Truist Financial boosted their price objective on shares of Kratos Defense & Security Solutions from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their price target on Kratos Defense & Security Solutions from $27.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Royal Bank of Canada decreased their price objective on Kratos Defense & Security Solutions from $37.00 to $32.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. B. Riley raised Kratos Defense & Security Solutions from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $26.00 to $35.00 in a research report on Monday, January 13th. Finally, Robert W. Baird increased their target price on shares of Kratos Defense & Security Solutions from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Kratos Defense & Security Solutions presently has an average rating of “Moderate Buy” and an average price target of $32.67.

Insiders Place Their Bets

In other Kratos Defense & Security Solutions news, insider Phillip D. Carrai sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $31.38, for a total value of $188,280.00. Following the transaction, the insider now directly owns 293,897 shares of the company’s stock, valued at approximately $9,222,487.86. This trade represents a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Marie Mendoza sold 1,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $33.30, for a total transaction of $49,950.00. Following the sale, the senior vice president now directly owns 61,782 shares of the company’s stock, valued at $2,057,340.60. The trade was a 2.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,196 shares of company stock valued at $2,962,300. Company insiders own 2.27% of the company’s stock.

Hedge Funds Weigh In On Kratos Defense & Security Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of KTOS. WealthPlan Investment Management LLC bought a new position in Kratos Defense & Security Solutions during the fourth quarter valued at approximately $461,000. Cornell Pochily Investment Advisors Inc. purchased a new stake in shares of Kratos Defense & Security Solutions during the 4th quarter worth approximately $207,000. Lord Abbett & CO. LLC boosted its position in shares of Kratos Defense & Security Solutions by 15.0% during the 3rd quarter. Lord Abbett & CO. LLC now owns 665,285 shares of the aerospace company’s stock valued at $15,501,000 after acquiring an additional 86,567 shares during the last quarter. MRA Advisory Group purchased a new position in shares of Kratos Defense & Security Solutions in the fourth quarter valued at $448,000. Finally, Robertson Stephens Wealth Management LLC grew its holdings in shares of Kratos Defense & Security Solutions by 121.3% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 30,371 shares of the aerospace company’s stock valued at $801,000 after purchasing an additional 16,650 shares in the last quarter. Institutional investors own 75.92% of the company’s stock.

Kratos Defense & Security Solutions Stock Down 2.5 %

NASDAQ KTOS opened at $30.68 on Monday. The company has a current ratio of 3.22, a quick ratio of 2.61 and a debt-to-equity ratio of 0.13. Kratos Defense & Security Solutions has a 12 month low of $17.05 and a 12 month high of $35.66. The stock’s 50 day moving average is $30.34 and its 200 day moving average is $27.45. The stock has a market cap of $4.69 billion, a PE ratio of 306.83 and a beta of 1.12.

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.