Karman (NYSE:KRMN) Shares Down 5.9% – Here’s What Happened

Shares of Karman Holdings Inc. (NYSE:KRMN) traded down 5.9% on Tuesday . The company traded as low as $91.14 and last traded at $91.7230. 167,587 shares traded hands during trading, a decline of 91% from the average session volume of 1,778,630 shares. The stock had previously closed at $97.47.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. BWS Financial reiterated a “sell” rating and set a $37.00 price target on shares of Karman in a research note on Thursday, January 22nd. Royal Bank Of Canada lifted their target price on Karman from $85.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. Truist Financial set a $118.00 target price on Karman in a report on Friday, January 9th. Piper Sandler assumed coverage on Karman in a research note on Wednesday, January 21st. They set a “neutral” rating and a $98.00 price target on the stock. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Karman in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.33.

Karman Stock Down 7.5%

The company has a current ratio of 2.86, a quick ratio of 2.69 and a debt-to-equity ratio of 1.27. The firm has a 50 day simple moving average of $88.23 and a two-hundred day simple moving average of $72.96. The company has a market capitalization of $11.93 billion and a PE ratio of 360.96.

Insiders Place Their Bets

In other news, CFO Michael Willis sold 115,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $58.63, for a total transaction of $6,742,450.00. Following the completion of the transaction, the chief financial officer directly owned 859,709 shares of the company’s stock, valued at approximately $50,404,738.67. This represents a 11.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jonathan Beaudoin sold 74,000 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $63.69, for a total value of $4,713,060.00. Following the completion of the transaction, the chief operating officer owned 666,861 shares of the company’s stock, valued at $42,472,377.09. The trade was a 9.99% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 251,000 shares of company stock worth $15,419,170.

Hedge Funds Weigh In On Karman

Large investors have recently made changes to their positions in the stock. Millennium Management LLC purchased a new stake in Karman during the first quarter worth about $10,199,000. Goldman Sachs Group Inc. acquired a new stake in shares of Karman during the 1st quarter valued at approximately $17,371,000. Jane Street Group LLC acquired a new stake in shares of Karman during the 1st quarter valued at approximately $532,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Karman during the 2nd quarter worth approximately $277,000. Finally, Blair William & Co. IL acquired a new stake in shares of Karman in the 2nd quarter worth approximately $726,000.

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. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.