Why Sigma Labs Shares Spiked 128.7% Today

Shares of Sigma Labs Inc. SGLB, a software developer for the commercial 3D metal printing industry, skyrocketed more than 128% on Monday.

What Happened: The surge followed the company's announcement of securing a contract to provide an initial system of its PrintRite3D in-process quality assurance solution to defense giant Lockheed Martin Corp.’s LMT Space Additive Design & Manufacturing Center based in Sunnyvale, California. The financial terms of the deal were not disclosed.

As a part of this initial contract, Lockheed Martin will assess the viability and performance of PrintRite3D technology for the Space division in support of several defense and civil space programs.

The Sigma PrintRite3D system was chosen because of its robust analysis capabilities, quality assurance solutions, data capture technology, and scalability across various OEM 3D printing platforms, according to Kristi Farley, vice president of spacecraft and missile engineering at Lockheed Martin Space.

Why It Matters: Santa Fe, New Mexico-based Sigma Labs is a developer of real-time monitoring solutions for 3D metal printing, primarily used in the aerospace and defense industries. The company believes its software product will be a major catalyst for the acceleration and adoption of 3D metal printing.

PrintRite3D is an interactive in-process quality assurance system that combines inspection, feedback, data collection and critical analysis. The system discovers potential glitches and integrates machine learning with developed metrics to map those metrics to the post-process data.

Price Action: Sigma Labs closed 128.7% higher on Monday at $7.64, but fell 5.9% in the after-hours session.

See Also: Sigma Labs Stock Rallies On Lockheed Martin Contract: Technical Levels To Watch