Kratos Defense saw a 7.28% drop in share prices after reaching an all-time high

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) saw a 7.28% drop in share prices, closing at $43.07 after hitting an all-time high. The company raised $575 million from a share sale program, selling over 14.9 million common shares at $38.5 each. Net proceeds will fund national security investments, acquisitions, and debt repayment.

Truist Securities gave Kratos Defense a “buy” recommendation with a price target of $52, expecting a $150 million revenue increase from new projects. Despite potential, AI stocks may offer higher returns. For more on AI investments, check out the “20 Best AI Stocks to Buy Now” and “30 Best Stocks to Buy Now According to Billionaires” reports on Insider Monkey.

Read more at Yahoo Finance: Kratos Defense (KTOS) Drops 7.3% as Traders Pocket Gains After All-Time High