Karman (NYSE:KRMN) Trading Down 4.5% – What’s Next?

Karman Holdings Inc. (NYSE:KRMN)’s share price dropped 4.5% during trading on Tuesday . The company traded as low as $44.59 and last traded at $44.59. Approximately 245,605 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 881,111 shares. The stock had previously closed at $46.68.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of Karman from $38.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 14th. Citigroup upped their price target on Karman from $46.50 to $58.00 and gave the company a “buy” rating in a research report on Monday. Baird R W raised Karman to a “strong-buy” rating in a research report on Monday, March 10th. Evercore ISI initiated coverage on shares of Karman in a report on Monday, March 10th. They issued an “outperform” rating and a $38.00 target price for the company. Finally, William Blair started coverage on Karman in a research report on Monday, March 10th. They set an “outperform” rating for the company. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $47.50.

Karman Price Performance

The company has a 50 day simple moving average of $37.89.

Karman (NYSE:KRMN) last announced its quarterly earnings data on Tuesday, May 13th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $100.12 million during the quarter, compared to analyst estimates of $95.40 million. Karman’s revenue was up 20.6% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of KRMN. SBI Securities Co. Ltd. acquired a new position in Karman in the 1st quarter worth about $107,000. US Bancorp DE acquired a new position in shares of Karman during the 1st quarter worth about $124,000. Hollencrest Capital Management purchased a new position in Karman in the 1st quarter valued at about $155,000. Caitong International Asset Management Co. Ltd acquired a new stake in Karman in the 1st quarter worth about $170,000. Finally, Phoenix Financial Ltd. purchased a new stake in Karman during the 1st quarter worth approximately $435,000.

About Karman

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.