IronNet Cybersecurity (NYSE:IRNT) stock is on the rise Wednesday as a couple of factors push the shares higher.
First off, it’s worth noting that IRNT stock is seeing incredibly heavy trading today. As of this writing, more than 14 million shares of the stock have changed hands. That’s quite the jump from its daily average trading volume of about 1.5 million shares.
Next up, we have to mention IronNet Cybersecurity’s most recent earnings report. The company reported revenue of $6.1 million alongside a net loss of $17.2 million. This meets its expectations for the first half of fiscal 2022 and also saw it reaffirming guidance for the full year.
Now let’s take a look at what traders need to know about IronNet Cybersecurity.
- IronNet Cybersecurity is a global cybersecurity company that employs a number of former NSA operators.
- It offers its services to help companies protect their networks with its Collective Defense platform operating at scale.
- The company integrates deep tradecraft knowledge into its products and has employees with both offensive and defensive cyber experience.
- Keith Alexander, a retired four-star general and former director of the NSA under President George W. Bush and Barack Obama, leads the company as its founder and CEO.
- The company was founded in 2014 and operates out of McLean, Va. with more than 250 employees.
- IronNet Cybersecurity went public via a special purpose acquisition company (SPAC) merger with LGL Systems Acquisition last year.
- It also boasts a market capitalization of $2.166 billion.
IRNT stock was up 7.1% as of Wednesday afternoon.
Investors looking for more recent stock market news will want to stick around.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.