Stock Alert: Sypris Solutions Surges 40% After Bagging Multiple Defense Contracts

(RTTNews) - Shares of nano-cap company Sypris Solutions, Inc. (SYPR) jumped nearly 40% on Friday morning after the company said it won multiple defense contracts.

SYPR is currently trading at $1.31, up $0.37 or 38.30%, on the Nasdaq.

Sypris Electronics, LLC, a subsidiary of Sypris Solutions, announced that it has received contract awards from a US DoD prime contractor to manufacture a variety of mission-critical electronic assemblies for multiple Government programs.

Production will begin in 2020 and continue into 2021. Terms of the agreements were not disclosed.