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

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 2,300,000 shares, a decline of 10.9% from the March 15th total of 2,580,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is currently 1.7 days.

Kratos Defense & Security Solutions Price Performance

Kratos Defense & Security Solutions stock opened at $17.63 on Wednesday. The firm has a fifty day moving average of $18.31 and a 200-day moving average of $18.31. Kratos Defense & Security Solutions has a 52-week low of $12.12 and a 52-week high of $21.60. The company has a quick ratio of 1.50, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $2.64 billion, a P/E ratio of -293.78 and a beta of 0.81.

Kratos Defense & Security Solutions (NASDAQ:KTOS) last announced its quarterly earnings results on Tuesday, February 13th. The aerospace company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. Kratos Defense & Security Solutions had a positive return on equity of 3.01% and a negative net margin of 0.86%. The firm had revenue of $273.80 million during the quarter, compared to the consensus estimate of $253.39 million. During the same period in the prior year, the firm earned $0.03 EPS. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts predict that Kratos Defense & Security Solutions will post 0.27 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KTOS. The Goldman Sachs Group increased their price objective on shares of Kratos Defense & Security Solutions from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th. Jefferies Financial Group cut their price target on shares of Kratos Defense & Security Solutions from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 price objective on shares of Kratos Defense & Security Solutions in a research note on Wednesday, February 14th. Truist Financial increased their target price on Kratos Defense & Security Solutions from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Finally, Benchmark boosted their price target on Kratos Defense & Security Solutions from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.14.

Insider Transactions at Kratos Defense & Security Solutions

In related news, insider Steven S. Fendley sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $17.80, for a total value of $124,600.00. Following the sale, the insider now owns 419,821 shares of the company’s stock, valued at approximately $7,472,813.80. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Steven S. Fendley sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $17.80, for a total transaction of $124,600.00. Following the sale, the insider now owns 419,821 shares in the company, valued at $7,472,813.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Deanna H. Lund sold 6,000 shares of Kratos Defense & Security Solutions stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $20.00, for a total value of $120,000.00. Following the completion of the sale, the chief financial officer now directly owns 214,765 shares of the company’s stock, valued at approximately $4,295,300. The disclosure for this sale can be found here. Insiders sold 36,538 shares of company stock valued at $672,544 in the last 90 days. 2.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kratos Defense & Security Solutions

A number of large investors have recently modified their holdings of the stock. Hodges Capital Management Inc. acquired a new stake in Kratos Defense & Security Solutions during the 1st quarter valued at $6,800,000. Register Financial Advisors LLC boosted its position in Kratos Defense & Security Solutions by 0.4% in the 1st quarter. Register Financial Advisors LLC now owns 190,604 shares of the aerospace company’s stock valued at $3,503,000 after buying an additional 750 shares during the last quarter. Salem Investment Counselors Inc. acquired a new stake in shares of Kratos Defense & Security Solutions during the first quarter valued at about $82,000. One Plus One Wealth Management LLC increased its position in shares of Kratos Defense & Security Solutions by 418.8% during the first quarter. One Plus One Wealth Management LLC now owns 51,884 shares of the aerospace company’s stock worth $954,000 after acquiring an additional 41,884 shares during the last quarter. Finally, NBC Securities Inc. acquired a new position in shares of Kratos Defense & Security Solutions in the first quarter worth about $33,000. Institutional investors and hedge funds own 75.92% of the company’s stock.

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc operates as a technology company that addresses the defense, national security, and commercial markets. It operates through two segments, Kratos Government Solutions and Unmanned Systems. The company offers ground systems for satellites and space vehicles, including software for command and control, telemetry, and tracking and control; jet-powered unmanned aerial drone systems, hypersonic vehicles, and rocket systems; propulsion systems for drones, missiles, loitering munitions, supersonic systems, spacecraft, and launch systems; command, control, communication, computing, combat, intelligence surveillance and reconnaissance; and microwave electronic products for missile, radar, missile defense, space, and satellite; counter unmanned aircraft systems, directed energy, communication and other systems, and virtual and augmented reality training systems for the warfighter.