Karman (NYSE:KRMN) Stock Price Down 9% – Here’s What Happened

Shares of Karman Holdings Inc. (NYSE:KRMN) traded down 9% on Friday . The company traded as low as $80.76 and last traded at $80.5110. 998,320 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 2,112,020 shares. The stock had previously closed at $88.46.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Truist Financial set a $118.00 price target on Karman in a research note on Friday, January 9th. BWS Financial restated a “sell” rating and issued a $37.00 price objective on shares of Karman in a report on Thursday, January 22nd. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $130.00 target price on shares of Karman in a research report on Thursday, January 22nd. Citigroup reiterated a “buy” rating on shares of Karman in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Karman in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Karman presently has an average rating of “Moderate Buy” and an average price target of $103.33.

Karman Stock Down 8.1%

The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.69 and a current ratio of 2.86. The stock’s 50-day moving average price is $90.56 and its two-hundred day moving average price is $74.31. The stock has a market capitalization of $10.76 billion and a PE ratio of 325.31.

Hedge Funds Weigh In On Karman

Large investors have recently made changes to their positions in the business. Invesco Ltd. boosted its position in shares of Karman by 27.3% in the 4th quarter. Invesco Ltd. now owns 4,088,649 shares of the company’s stock worth $299,166,000 after purchasing an additional 877,462 shares in the last quarter. Vident Advisory LLC bought a new position in Karman in the 4th quarter worth about $14,579,000. VARCOV Co. purchased a new stake in Karman during the 4th quarter valued at about $485,000. Polymer Capital Management US LLC bought a new stake in Karman during the 4th quarter valued at about $569,000. Finally, Engineers Gate Manager LP purchased a new position in Karman in the fourth quarter worth about $241,000.

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. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.