MYDA Advisors LLC Takes Position in Karman Holdings Inc. $KRMN

Key Points

• MYDA Advisors LLC has made a new investment in Karman Holdings Inc., acquiring 20,000 shares valued at approximately $668,000 in the first quarter.
• Insider trading activity includes significant sales by COO Jonathan Beaudoin and insider Stephanie Sawhill, both selling shares at an average price of $49.00, leading to notable decreases in their ownership.
• Karman Holdings reported earnings per share of $0.10 for the last quarter, missing analysts' expectations, despite experiencing a 35.3% increase in quarterly revenue compared to the previous year.

MYDA Advisors LLC purchased a new position in shares of Karman Holdings Inc. (NYSE:KRMN - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,000 shares of the company's stock, valued at approximately $668,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in Karman during the first quarter worth about $107,000. US Bancorp DE acquired a new position in shares of Karman during the first quarter worth about $124,000. Hollencrest Capital Management acquired a new position in shares of Karman during the first quarter worth about $155,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Karman during the first quarter worth about $170,000. Finally, Phoenix Financial Ltd. acquired a new position in shares of Karman during the first quarter worth about $435,000.

Analyst Upgrades and Downgrades

KRMN has been the subject of a number of analyst reports. Robert W. Baird boosted their price objective on Karman from $40.00 to $50.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Citigroup reissued a "buy" rating and set a $58.00 price objective (up from $46.50) on shares of Karman in a research report on Monday, June 9th. Finally, Royal Bank Of Canada boosted their price objective on Karman from $55.00 to $57.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $50.75.

Insider Transactions at Karman

In other news, major shareholder Spaceco Spv Lp Tcfiii sold 23,623,968 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $49.00, for a total value of $1,157,574,432.00. Following the completion of the sale, the insider directly owned 50,450,859 shares of the company's stock, valued at approximately $2,472,092,091. This represents a 31.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephanie Sawhill sold 62,000 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $49.00, for a total value of $3,038,000.00. Following the completion of the sale, the insider directly owned 566,939 shares of the company's stock, valued at $27,780,011. The trade was a 9.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,865,968 shares of company stock valued at $1,169,432,432 over the last ninety days.

Karman Stock Performance

KRMN traded down $0.19 on Tuesday, reaching $53.22. The company's stock had a trading volume of 325,067 shares, compared to its average volume of 1,173,753. The business has a 50 day simple moving average of $50.24. The company has a quick ratio of 2.58, a current ratio of 2.75 and a debt-to-equity ratio of 1.30. Karman Holdings Inc. has a fifty-two week low of $25.02 and a fifty-two week high of $57.31.

Karman (NYSE:KRMN - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). The company's revenue for the quarter was up 35.3% compared to the same quarter last year. Karman has set its FY 2025 guidance at EPS.

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.