BigBear.ai Shares Rise After U.S. Navy Awards Contract

Dow Jones

01/30

By Chris Wack

BigBear.ai shares were up 11% to $4.02 after the company was awarded a contract under the U.S. Department of Navy's SeaPort Next Generation program.

The security technology company said the SeaPort program serves as the premier contracting platform for the U.S. Navy, streamlining the procurement process for technical, engineering, and professional services.

The McLean, Va., company said this multiple-award contract enables BigBear.ai to provide innovative technologies and mission-critical support to the U.S. Navy and other federal agencies.

BigBear.ai will be in a position to provide systems engineering, process engineering, and specialized technology solutions under the SeaPort contract.

Shares hit a high of $5.20 on Dec. 31, and are up 138% in the past months.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

January 30, 2025 10:45 ET (15:45 GMT)

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