Hawkeye 360 Inc's stock soared 5.15% in pre-market trading, continuing its positive momentum following a successful initial public offering.

The company's shares are building on strong after-hours performance from the previous session, driven by investor enthusiasm for its IPO which priced at the high end of its expected $24-26 range. Hawkeye 360 raised $416 million through the offering, selling 16 million shares.

The space technology company, which operates over 30 satellites providing signal intelligence data to defense and national security agencies, is notably one of the few profitable companies in its sector to go public. Additional positive sentiment comes from a NASA contract secured in early April to support commercial crew space and low-orbit satellite programs, contributing to the stock's upward movement amid a broader defense technology IPO boom.