Airship AI Holdings Inc (NASDAQ:AISP) shares are trading higher on heavy volume Wednesday, adding to gains of more than 330% over the last week. Here's a look at what's going on.

What To know: Airship AI shares soared on Tuesday after the company announced that it was awarded a large contract with an agency within the Department of Justice for the company's Acropolis Enterprise Sensor Management video and data management platform. The stock appears to be moving on continued momentum Wednesday.

"Reflected in our strong pipeline for 2024, Airship AI is actively working to drive digital transformation for video and sensor data from the edge to the cloud across the U.S. Government and with governments around the world, by empowering front-line operators and data consumers to leverage the latest in AI and sensor management capabilities," said Paul Allen, president of Airship AI.

Airship AI offers an AI-driven video, sensor and data management surveillance platform that aims to improve public safety and operational efficiency for the public sector and commercial customers. The company went public via SPAC merger in December at a pre-money equity valuation of $225 million.

The stock had largely trended lower since Airship AI went public, but Tuesday's announcement seemed to ignite retail investor interest in the stock. Airship AI has been trending on various social platforms this week and it was among the top trending tickers on Stocktwits at last check.

Airship AI's average session volume is approximately 5.1 million, according to data from Benzinga Pro. Wednesday's trading volume had already exceeded 35 million at publication time.

AISP Price Action: Airship AI shares were up 40.6% at $6.96 at the time of publication, according to Benzinga Pro.

Photo: Brian Penny from Pixabay.