Shares of Sigma Labs (SGLB) - Get Report more than doubled Monday after the quality-assurance-software provider said it received a contract to provide its PrintRite3D technology to defense giant Lockheed Martin (LMT) - Get Report for its space unit.
Shares of the Santa Fe, N.M., company at last check traded at $7.50, compared with Friday's close of $3.34. The stock on Monday touched a 52-week high $9.75.
Sigma Labs develops and commercializes real-time monitoring solutions for 3D metal printing, used in the aerospace and defense industries.
Sigma's PrintRite3D system provides "robust analysis capabilities, quality assurance solutions, data capture technology, and scalability across various original-equipment-manufacturer 3D printing platforms," Kristi Farley, vice president for spacecraft and missile engineering at Lockheed Martin Space, said in a statement.
"Assurance of print quality and repeatability is essential to the critical missions that we support."
PrintRite3D is an interactive in-process quality-assurance system that combines inspection, feedback, data collection and critical analysis.
It also provides a high-fidelity, accurate system that can scale to multi-laser in dual and quad laser systems.
Under the agreement, Lockheed Martin, based in Bethesda, Md., will assess the viability and performance of PrintRite3D tech for the space division to support a variety of defense and civil space programs.
The contract was awarded by Lockheed Martin Space Additive Design & Manufacturing Center based in Sunnyvale, California.
Lockheed Martin shares were trading up 1.6% at $345.57.