Karman (NYSE:KRMN) Trading Down 7.1% – Here’s What Happened

Shares of Karman Holdings Inc. (NYSE:KRMN) fell 7.1% during mid-day trading on Thursday . The company traded as low as $63.27 and last traded at $62.9210. 93,186 shares were traded during trading, a decline of 93% from the average session volume of 1,276,147 shares. The stock had previously closed at $67.74.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KRMN. Truist Financial assumed coverage on Karman in a research report on Friday, October 10th. They set a “buy” rating and a $89.00 target price on the stock. Weiss Ratings upgraded Karman from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Evercore ISI lifted their target price on Karman from $58.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Raymond James Financial began coverage on shares of Karman in a report on Friday, September 5th. They issued a “strong-buy” rating and a $100.00 price target on the stock. Finally, Royal Bank Of Canada decreased their target price on shares of Karman from $93.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Karman presently has a consensus rating of “Buy” and a consensus price target of $76.17.

Karman Price Performance

The firm has a market capitalization of $7.96 billion and a PE ratio of 240.74. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.86 and a quick ratio of 2.58. The business’s 50 day moving average is $73.08 and its two-hundred day moving average is $56.31.

Karman (NYSE:KRMN) last released its quarterly earnings results on Friday, November 7th. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The business had revenue of $121.79 million during the quarter. Karman had a net margin of 2.65% and a return on equity of 11.11%. Karman’s quarterly revenue was up 41.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 EPS.

Insiders Place Their Bets

In other news, COO Jonathan Beaudoin sold 74,000 shares of the stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $63.69, for a total transaction of $4,713,060.00. Following the transaction, the chief operating officer directly owned 666,861 shares in the company, valued at approximately $42,472,377.09. This represents a 9.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephanie Sawhill sold 62,000 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $63.93, for a total value of $3,963,660.00. Following the completion of the sale, the insider owned 504,939 shares of the company’s stock, valued at $32,280,750.27. The trade was a 10.94% decrease in their position. The SEC filing for this sale provides additional information.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Raymond James Financial Inc. boosted its stake in shares of Karman by 50.6% in the 3rd quarter. Raymond James Financial Inc. now owns 456,987 shares of the company’s stock valued at $32,994,000 after purchasing an additional 153,533 shares in the last quarter. Amundi purchased a new stake in Karman during the third quarter valued at about $26,658,000. Schusterman Interests LLC bought a new position in shares of Karman during the third quarter valued at about $148,024,000. California State Teachers Retirement System increased its holdings in shares of Karman by 93.4% in the third quarter. California State Teachers Retirement System now owns 47,891 shares of the company’s stock worth $3,458,000 after buying an additional 23,130 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in Karman by 31.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 177,356 shares of the company’s stock valued at $12,805,000 after acquiring an additional 42,570 shares during the period.

Karman Company Profile

We specialize in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile and defense, and space programs. Our integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense (“DoD”) and space sector initiatives.