AJRD - Kratos Defense & Security soars after successful Zeus 1 rocket motor test

2023-06-21 19:25:19 ET

Kratos Defense & Security Solutions ( NASDAQ: KTOS ) closed +12.7% in Wednesday's trading, reaching its highest since August, following news the company completed a successful static test of the new Zeus 1 solid propellant rocket motor.

Kratos ( KTOS ) said the Zeus 1 is the first of two high-performance 32.5-inch diameter solid rocket motors which were internally developed and funded under the Kratos Zeus Program, with the larger Zeus 2 motor scheduled for static test later this year.

The company "internally funded the development of the Zeus motors to enable rapid and affordable hypersonic testing and capabilities and to be 'first to market' with a highly relevant system," Kratos ( KTOS ) President and CEO Eric DeMarco said.

The family of Zeus solid rocket motors are designed and manufactured by supplier partner Aerojet Rocketdyne ( AJRD ).

More on Kratos Defense & Security:

• Financial and valuation comparison to sector peers
• Analysis: Kratos Defense & Security: Focus On The Long-Term Potential
• Stock price return: Up 54.5% YTD, up 11% in the past 12 months

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