AEVEX Stock Is Trending After Hours As Defense Contractor Disputes Reports of Navy Order Halt

AEVEX Corp. (NYSE:AVEX) shares are trending on Wednesday night.

Shares of the Californian defense technology contractor jumped 5.68% to $10.23 in after-hours trading on Wednesday after the company pushed back on reports about its Navy drone program.

AEVEX Says Reports on GARC Program Contained Factual Inaccuracies

On Wednesday, AEVEX said recent reports about its Global Autonomous Reconnaissance Craft (GARC) program contained factual inaccuracies. GARC is a small, uncrewed surface vessel, essentially a drone boat, that AEVEX built for the U.S. Navy.

The reports suggested the Navy had halted GARC orders over performance issues. Such a claim matters to investors because it could signal weak demand and put future revenue at risk.

AEVEX said no orders have been halted. It said it met its contractual obligation by delivering 325 GARC units to the Navy in 2025.

No additional vessels were planned for procurement, the company said, as the Navy deploys its existing fleet across multiple commands and missions.

GARC Contract Value Rises to $350 Million Through June 2027

Beyond the original deliveries, AEVEX said it continues to earn revenue under the same contract. The agreement received multiple modifications in 2026, lifting its total value to about $350 million and extending it through June 2027.

The company is upgrading delivered units with new mission packages, including mine-countermeasure systems conducting missions in the Strait of Hormuz. AEVEX said GARC vessels have logged more than 25,000 on-water hours.

BlackSea Acquisition and Maritime Systems Division in Focus

AEVEX Chief Executive Officer Roger Wells said the Navy’s continued investment in the GARC fleet supports the company’s strategy behind its BlackSea acquisition. “AEVEX acquired BlackSea for its proven operational capabilities, strong customer relationships and ability to deliver increasingly sophisticated maritime autonomous systems at scale,” Wells said in the company’s statement.

AEVEX said the matters raised in the reports do not affect its Maritime Systems division or its financial performance.

The company is also developing next-generation unmanned surface vessels, including Chaser and Comet.

Trading Metrics, Technical Analysis

AEVEX has a market capitalization of about $1.23 billion. Over the past 52 weeks, its stock has traded as high as $42.34 and as low as $9.64.

AVEX has a Relative Strength Index (RSI) of 22.92.

Over the past 12 months, the small-cap stock has fallen 64.05%.

Price Action: The gain in late trading session follows a 32.61% drop during the regular session, when AVEX closed at $9.68, according to Benzinga Pro data.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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