Karman (NYSE:KRMN) Share Price Breaks Above 50-Day Moving Average Following Analyst Downgrade

Karman Holdings Inc. (NYSE:KRMN) passed above its fifty day moving average during trading on Wednesday after Weiss Ratings upgraded the stock from a hold (c-) rating to a hold (c) rating. The stock has a fifty day moving average of $37.74 and traded as high as $38.03. Karman shares last traded at $37.9480, with a volume of 2,093,427 shares trading hands.

Several other brokerages also recently weighed in on KRMN. BWS Financial reiterated a “sell” rating and set a $37.00 target price on shares of Karman in a research note on Monday, August 10th. Guggenheim began coverage on Karman in a research report on Monday, September 14th. They issued a “buy” rating and a $63.00 price target on the stock. Citigroup increased their price objective on Karman from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Truist Financial decreased 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. Finally, Needham & Company LLC lowered their target price on Karman from $125.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $77.57.

Insider Buying and Selling

In other news, Director David Stinnett acquired 27,000 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was bought at an average price of $37.32 per share, for a total transaction of $1,007,640.00. Following the transaction, the director owned 3,530,395 shares in the company, valued at $131,754,341.40. This represents a 0.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.77% of the company’s stock.

Institutional Trading of Karman

Hedge funds and other institutional investors have recently made changes to their positions in the company. Grandeur Peak Global Advisors LLC boosted its position in shares of Karman by 98.4% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 59,025 shares of the company’s stock worth $2,947,000 after purchasing an additional 29,281 shares in the last quarter. Readystate Asset Management LP purchased a new stake in Karman during the second quarter worth about $5,675,000. Vontobel Holding Ltd. grew its position in Karman by 53.3% during the third quarter. Vontobel Holding Ltd. now owns 131,881 shares of the company’s stock worth $4,276,000 after buying an additional 45,847 shares during the period. Wellington Management Group LLP acquired a new position in Karman during the second quarter worth about $16,086,000. Finally, Bouvel Investment Partners LLC acquired a new position in Karman during the third quarter worth about $1,841,000.

Karman Stock Performance

The company has a quick ratio of 3.40, a current ratio of 3.56 and a debt-to-equity ratio of 2.01. The company has a market capitalization of $5.03 billion, a PE ratio of 130.86 and a beta of 0.64. The stock’s fifty day simple moving average is $37.74 and its 200-day simple moving average is $64.91.

Karman (NYSE:KRMN) last announced its quarterly 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 for the quarter. Karman had a return on equity of 15.54% and a net margin of 6.31%. Karman’s revenue was up 58.2% compared to the same quarter last year. During the same period last year, the firm earned $0.10 EPS. On average, research analysts predict that Karman Holdings Inc. will post 0.59 earnings per share for the current fiscal year.

About Karman

Karman Holdings Corp., doing business as Karman Space & Defense, is an aerospace and defense company that develops and manufactures mission-critical components, assemblies and structures. Its products are used in space-launch vehicles, missiles, hypersonic systems and other defense applications where performance, reliability and precision are essential.

The company’s capabilities include the production of composite and metallic structures, propulsion-related components, precision-machined parts and other highly engineered hardware.