Karman Sees Unusually Large Options Volume (NYSE:KRMN)

Karman Holdings Inc. (NYSE:KRMN) was the target of some unusual options trading activity on Tuesday. Investors bought 17,871 put options on the company. This is an increase of 1,781% compared to the typical volume of 950 put options.

Insider Buying and Selling

In other Karman news, Director David Stinnett purchased 27,000 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were acquired at an average cost of $37.32 per share, for a total transaction of $1,007,640.00. Following the completion of the transaction, the director owned 3,530,395 shares of the company’s stock, valued at approximately $131,754,341.40. The trade was a 0.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.77% of the company’s stock.

Hedge Funds Weigh In On Karman

Several institutional investors have recently bought and sold shares of the stock. GK Wealth Management LLC bought a new stake in Karman in the 3rd quarter valued at $65,000. Legacy Wealth Asset Management LLC boosted its holdings in shares of Karman by 83.8% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 7,374 shares of the company’s stock valued at $239,000 after purchasing an additional 3,361 shares during the last quarter. Congress Asset Management Co. boosted its holdings in shares of Karman by 23.8% during the 3rd quarter. Congress Asset Management Co. now owns 1,068,811 shares of the company’s stock valued at $34,651,000 after purchasing an additional 205,503 shares during the last quarter. Moody National Bank Trust Division purchased a new position in shares of Karman during the third quarter valued at about $537,000. Finally, HBK Investments L P purchased a new position in shares of Karman during the second quarter valued at about $998,000.

Karman Price Performance

KRMN stock traded down $1.60 during midday trading on Tuesday, hitting $30.28. The company’s stock had a trading volume of 1,683,346 shares, compared to its average volume of 2,800,814. The company has a quick ratio of 3.40, a current ratio of 3.56 and a debt-to-equity ratio of 2.01. Karman has a 12 month low of $29.86 and a 12 month high of $118.38. The company has a 50 day moving average of $43.24 and a two-hundred day moving average of $55.26. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 104.14 and a beta of 0.64.

Karman (NYSE:KRMN) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $182.06 million for the quarter. Karman had a net margin of 6.31% and a return on equity of 15.54%. The company’s quarterly revenue was up 58.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. On average, analysts expect that Karman will post 0.59 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $91.00 price objective (down from $114.00) on shares of Karman in a research note on Friday, August 7th. Needham & Company LLC lowered their price objective on Karman from $125.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Royal Bank Of Canada cut their price objective on Karman from $85.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday, September 28th. Barclays started coverage on shares of Karman in a report on Friday. They issued an “overweight” rating and a $79.00 target price for the company. Finally, Truist Financial reduced their price objective on shares of Karman from $118.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.33.

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.