After Sigma Labs (SGLB) announced a deal with US defense giant Lockheed Martin, investors started buying shares. SGLB stock soared by 128%. Aerospace and defense giant Lockheed Martin has chosen a software vendor that focuses on 3D printing quality control.
SGLB stock rose 128.74% during Monday’s trading, representing a gain of $4.3 from its previous close price. The lowest point that the shares touched during the trading session were $4.90, while the day’s peak was recorded at a share price of $9.75. The trading volume for SGLB was 287.82 million, while the closing price was reported as $7.64.
A new program from Sigma Labs called PrintRite3D is designed to help you detect defects or anomalies in your 3D printing projects in real-time and make corrections to them as they happen. The supplier’s assurances show that this reduces costs and increases production efficiency.
PrintRite3D will evaluate the performance of Lockheed Martin’s defense and space programs as part of the contract. Sigma Labs did not disclose the cost of the deal.
Since Sigma Labs went public in 2010, it has had a great deal of growth. Its primary activity is to integrate the PrintRite3D quality assurance system into metal products manufacturing processes. The SGLB stock signed an agreement with Airbus in 2019 to test the system in an aircraft manufacturer’s production line in Europe.
Sigma Labs Inc. (SGLB) shares gained 126.04% year-to-date and have moved 128.74% or $4.30 higher during the latest trading session. Despite this, the stock’s trailing 12-month performance stands at nearly 76.85%. On a year-to-date basis, SGLB stock is up 126.04%, and over the trailing 3-month period, it is up 169.96%. If we look at the shorter-term performance, the week has registered a 139.50% increase, and the month is up 72.85%.