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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.