Karman (NYSE:KRMN) Shares Down 7.1% – Time to Sell?

Karman Holdings Inc. (NYSE:KRMN)’s share price dropped 7.1% during mid-day trading on Thursday . The stock traded as low as $63.27 and last traded at $62.9210. Approximately 93,186 shares changed hands during trading, a decline of 93% from the average daily volume of 1,276,147 shares. The stock had previously closed at $67.74.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Evercore ISI lifted their target price on shares of Karman from $58.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Truist Financial initiated 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 report on Monday. Royal Bank Of Canada cut their price target on Karman from $93.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, November 7th. Finally, Raymond James Financial started coverage on Karman in a research note on Friday, September 5th. They issued a “strong-buy” rating and a $100.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Karman presently has an average rating of “Buy” and a consensus target price of $76.17.

Karman Stock Performance

The company has a market cap of $8.38 billion and a P/E ratio of 422.45. The company has a quick ratio of 2.58, a current ratio of 2.86 and a debt-to-equity ratio of 1.27. The company’s 50-day moving average is $73.00 and its two-hundred day moving average is $56.11.

Karman (NYSE:KRMN) last posted its quarterly earnings data on Friday, November 7th. The company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $121.79 million for the quarter. Karman had a return on equity of 11.11% and a net margin of 2.65%.Karman’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 EPS.

Institutional Investors Weigh In On Karman

A number of large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in Karman by 56.4% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $33,000 after buying an additional 164 shares in the last quarter. Global Retirement Partners LLC grew its position in Karman by 5,718.2% during the 3rd quarter. Global Retirement Partners LLC now owns 640 shares of the company’s stock worth $46,000 after acquiring an additional 629 shares during the last quarter. Global Trust Asset Management LLC bought a new stake in Karman in the 2nd quarter worth $50,000. Penserra Capital Management LLC purchased a new position in shares of Karman in the second quarter valued at about $95,000. Finally, Amalgamated Bank purchased a new stake in Karman in the 2nd quarter worth approximately $100,000.

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.