AeroVironment Inc (NASDAQ:AVAV) shares are rising in Wednesday’s after-hours session after the company was awarded a $500 million contract by the U.S. Department of Defense.
- AeroVironment stock is building positive momentum. Why is AVAV stock advancing?
AeroVironment Awarded C-UAS Contract
AeroVironment was awarded a $500 million firm-fixed-price contract to supply commercial counter-unmanned aerial systems (C-UAS) and counter-small-UAS capabilities.
Work locations and funding will be set with each order. The contract has an estimated completion date of June 29, 2029.
The award comes as the Pentagon continues to focus on counter-drone defense as low-cost drone threats proliferate.
AVAV Shares Move Higher After Hours
AVAV Price Action: AeroVironment shares were up 3.19% in after-hours, trading at $177.94 at the time of publication, according to Benzinga Pro.
Image: Shutterstock.com
Login to comment