Navitas Semiconductor Corporation (NASDAQ: NVTS) shares remained up double digits in Tuesday pre-market trading after a sharp after-hours rally following Monday’s post-close announcement that the U.S. Army selected the company for the ALATTIS program.
NVTS was up 9.29% at $12.82 at approximately 8:41 a.m. ET Tuesday, after closing Monday at $11.73. The stock had fallen 3.85% during Monday’s regular session.
Shares initially rose about 20% in Monday after-hours trading after Navitas disclosed the award. By early Tuesday, the gain had eased from that initial spike but remained above 9.29% from Monday’s close.
Army Program Targets 10 kV Silicon-Carbide Devices
Navitas said the U.S. Army selected the company for the Accelerated, Large-Area, 10 kV SiC IGBT, or ALATTIS, program to develop next-generation ultra-high-voltage silicon-carbide power semiconductor technology.
The prototype project aims to develop and validate a domestic manufacturing process for silicon-carbide power semiconductor devices rated at 10 kV or higher through iterative design, fabrication, and testing. The Army Research Laboratory sponsors the project, while the Joint Experimentation and Technology Accelerator, or JETX, supports the program.
The work targets 10 kV silicon-carbide insulated-gate bipolar transistors, or IGBTs, along with associated PiN diode technologies for mission-critical systems used by the U.S. Armed Forces.
Navitas’ current GeneSiC product portfolio spans voltage ratings from 650 V to 6.5 kV. The ALATTIS project therefore moves the company into development of 10 kV IGBTs above the voltage range of its existing commercial SiC portfolio.
Navitas’ announcement did not disclose the award’s monetary value or specify any expected revenue contribution from the program.
Separately, Navitas Semiconductor Tokenized Stock (NVTSon) was also up 5.67% over the previous 24 hours at $12.85, according to CoinMarketCap. The tokenized product’s 24-hour return reflects a different trading window than NVTS’s Tuesday pre-market move, making the two percentage changes not directly comparable.