Karman (NYSE:KRMN) Shares Down 3.7% – Here’s Why

Karman Holdings Inc. (NYSE:KRMN) shares dropped 3.7% during trading on Thursday . The company traded as low as $35.68 and last traded at $35.5550. Approximately 1,143,820 shares traded hands during trading, a decline of 58% from the average session volume of 2,694,430 shares. The stock had previously closed at $36.94.

Wall Street Analysts Forecast Growth

KRMN has been the topic of a number of recent research reports. Weiss Ratings cut Karman from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, September 10th. Needham & Company LLC dropped their price target on shares of Karman from $125.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Truist Financial reduced their price objective on Karman from $118.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. BWS Financial reiterated a “sell” rating and set a $37.00 price target on shares of Karman in a research report on Monday, August 10th. Finally, KeyCorp decreased their price target on Karman from $122.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Karman presently has an average rating of “Moderate Buy” and a consensus price target of $89.45.

Karman Stock Performance

The company has a debt-to-equity ratio of 2.01, a current ratio of 3.56 and a quick ratio of 3.40. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 121.76 and a beta of 0.47. The company has a fifty day moving average price of $48.41 and a two-hundred day moving average price of $63.70.

Karman (NYSE:KRMN) last announced its earnings results on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. Karman had a return on equity of 15.54% and a net margin of 6.31%.The business had revenue of $182.06 million during the quarter. During the same period in the prior year, the business earned $0.10 EPS. The company’s quarterly revenue was up 58.2% compared to the same quarter last year. As a group, equities research analysts expect that Karman Holdings Inc. will post 0.59 EPS for the current year.

Institutional Trading of Karman

Hedge funds and other institutional investors have recently made changes to their positions in the business. HBK Investments L P acquired a new stake in Karman during the second quarter valued at approximately $998,000. Tidal Investments LLC grew its position in Karman by 78.1% in the second quarter. Tidal Investments LLC now owns 29,199 shares of the company’s stock worth $1,458,000 after buying an additional 12,807 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of Karman in the second quarter valued at $470,000. NewEdge Advisors LLC lifted its position in shares of Karman by 163.3% during the 2nd quarter. NewEdge Advisors LLC now owns 3,112 shares of the company’s stock valued at $155,000 after acquiring an additional 1,930 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Karman by 13.2% during the 2nd quarter. Arizona State Retirement System now owns 16,456 shares of the company’s stock valued at $821,000 after acquiring an additional 1,915 shares during the last quarter.

About Karman

Karman is an aerospace and defense company that develops and manufactures mission-critical components, structures and systems for space and defense applications. Its offerings support launch vehicles, satellites, hypersonic systems and other advanced aerospace platforms.

The company provides capabilities across engineered metallic and composite structures, precision components, propulsion-related products and other specialized assemblies. Karman serves government and commercial aerospace customers involved in space launch, national security and defense programs.

Operating through a portfolio of aerospace and defense businesses, Karman combines design, engineering and manufacturing capabilities for complex, high-performance applications.