Karman (NYSE:KRMN) Sets New 52-Week Low – Time to Sell?

Karman Holdings Inc. (NYSE:KRMN)’s share price hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $31.24 and last traded at $31.1480, with a volume of 736234 shares. The stock had previously closed at $33.29.

Analyst Ratings Changes

KRMN has been the subject of several analyst reports. BWS Financial reissued a “sell” rating and issued a $37.00 target price on shares of Karman in a research note on Monday, August 10th. Piper Sandler reaffirmed an “overweight” rating and set a $91.00 price target (down from $114.00) on shares of Karman in a research report on Friday, August 7th. Needham & Company LLC cut their price target on shares of Karman from $125.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Citigroup lifted their price objective on shares of Karman from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, Weiss Ratings cut shares of Karman from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Karman has an average rating of “Moderate Buy” and an average target price of $88.09.

Karman Price Performance

The company has a market capitalization of $4.14 billion, a P/E ratio of 108.01 and a beta of 0.64. The company’s 50-day moving average price is $44.51 and its two-hundred day moving average price is $57.25. The company has a debt-to-equity ratio of 2.01, a current ratio of 3.56 and a quick ratio of 3.40.

Karman (NYSE:KRMN) last announced its earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The business had revenue of $182.06 million during the quarter. Karman had a net margin of 6.31% and a return on equity of 15.54%. The business’s quarterly revenue was up 58.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. As a group, sell-side analysts expect that Karman Holdings Inc. will post 0.59 EPS for the current year.

Insider Activity at Karman

In other Karman news, Director David Stinnett purchased 27,000 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were acquired at an average cost of $37.32 per share, with a total value of $1,007,640.00. Following the completion of the transaction, the director owned 3,530,395 shares in the company, valued at $131,754,341.40. The trade was a 0.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.77% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Congress Asset Management Co. grew its stake in Karman by 23.8% during the third quarter. Congress Asset Management Co. now owns 1,068,811 shares of the company’s stock worth $34,651,000 after buying an additional 205,503 shares in the last quarter. Moody National Bank Trust Division bought a new stake in shares of Karman during the 3rd quarter worth approximately $537,000. HBK Investments L P acquired a new stake in shares of Karman during the 2nd quarter worth approximately $998,000. Tidal Investments LLC increased its stake in Karman by 78.1% in the second quarter. Tidal Investments LLC now owns 29,199 shares of the company’s stock valued at $1,458,000 after acquiring an additional 12,807 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in Karman during the second quarter valued at approximately $470,000.

About Karman

Karman (NYSE: KRMN), through its subsidiaries, provides engineered components and manufacturing services for the aerospace and defense industries. The company focuses on mission-critical products used in space launch vehicles, missile systems, hypersonic platforms and other high-performance aerospace applications.

Its capabilities include the design and production of composite and metallic structures, precision-machined components, complex assemblies, thermal protection products and other specialized hardware.