In After-hours, CPS Technologies Corporation’s (NASDAQ: CPSH) stock rose39.34% to $9.67. CPS Technologies Corporation (CPSH) has attracted institutional investors recently. It appears institutional investors own over 6.10% of the small-cap company’s total float. Institutional investors have purchased shares worth over $0.4 million since Sep 29, 2020.
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The company specializes in developing and manufacturing high-performance energy management components that facilitate the electrification of the economy. Technology included in our products takes advantage of the smart grid, 5G infrastructure, wind turbines, electric vehicles, hybrid vehicles, and wind turbines.
CPS Technologies Corporation (NASDAQ: CPSH) has confirmed the acquisition of a purchasing order for HybridTech Armor Panels to be mounted as the striking face of specialized ballistic shields to serve the U.S. Navy CVN ships of the class. Shields offer ballistic protection for crew-served weapon stations and the sailors in possession of them. The procurement order shall cover panels for the facilities of all crew-served weapons stations on one and
It is a pleasure for CPS to play a significant role in improving our men and women’s safety in uniform, said Grant Bennett, CEO of CPS. This purchase order represents the culmination of many years of research, testing, prototyping, and development to apply the advantages of metal- matrix composites to armor at scale.
Armor panels are an integral part of the CPS HybridTech armor system. CPS partners with Kinetic Protection, based in Stillwater, Minnesota, to assemble HybridTech Armor Panels into a full armor system installed on the aircraft carrier.
Using multiple patents owned by CPS, CPS HybridTech Armor Panels provide a safe and lightweight material that can withstand threats from the environment. Various military tests have been conducted on the panels – environmental, full-scale vibration and shock, and extensive ballistic defeat testing – and they never rust or degrade in salt spray or sunlight. HybridTech Armor Panels are key components of the integrated armor system onboard the aircraft carrier and allow it to be easily tailored to specific crew-served weapons stations.
High insider ownership gives the company confidence in its shares and gives it the incentive to make the company successful and maximize shareholder value. The number of transactions by corporate insiders during the past 12 months totaled 16, according to the best data available at the Securities and Exchange Commission (SEC). The insiders purchased 150,500 shares of common stock on 8 occasions while selling 68,983 shares on the other 8 transactions.