Nuburu Inc. (NYSEAMERICAN: BURU) shares are trending on Wednesday.
Check out the current price of BURU stock here.
Shares of the industrial blue laser developer surged 24.48% in after-hours trading on Tuesday, closing at $0.59, after the company announced a strategic acquisition in the defense sector.
Defense Subsidiary Acquires Italian Software Firm
The laser technology company announced that its defense subsidiary, Nuburu Defense LLC, will acquire Orbit S.r.l., an Italian software firm specializing in operational resilience and crisis management for mission-critical organizations.
Deal Targets $3B Global Market
The acquisition targets the $3 billion global operational resilience market across NATO, U.S., and EU defense agencies.
See Also: POET Technologies Stock Rallies, Trends After Hours: Here’s Why
$12 Million Capital Raise
Nuburu also recently closed a $12 million capital raise and secured a $6.6 million contract in Bangladesh through its partnership with Tekne S.p.A.
Stock Performance
Over the past year, the Colorado-based company has gained 5.56%, but it has dropped 29.10% year-to-date. Its price has fluctuated between $0.12 and $1.60, with an average trading volume of 97.74 million shares.
The company's market capitalization stands at $61.59 million.
Price Action: According to Benzinga Pro data, BURU closed Tuesday at $0.48, soaring 86.27% on the day.
Benzinga’s Edge Stock Rankings show that Nuburu is in a phase of long-term consolidation, while also gaining upward momentum in the short and medium term. See how it compares to other well-known names.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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