Karman Holdings Inc.'s Lock-Up Period Will End on August 12th (NYSE:KRMN)

Key Points

• The lock-up period for Karman Holdings Inc. (NYSE: KRMN), which involves the 23,000,000 shares issued during its public offering, is set to end on August 12th.
• Analysts have shown strong confidence in Karman, with recent upgrades raising price targets to as high as $58.00, while the stock has maintained an average rating of "Buy".
• Karman's shares have been trading upwards, closing at $51.33, reflecting a 2.2% increase recently amidst strong earnings performance and significant insider trading activity.

Karman's (NYSE:KRMN - Get Free Report) lock-up period is set to expire on Tuesday, August 12th. Karman had issued 23,000,000 shares in its initial public offering on February 13th. The total size of the offering was $506,000,000 based on an initial share price of $22.00. After the expiration of Karman's lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Royal Bank Of Canada lifted their price objective on Karman from $44.00 to $51.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. Robert W. Baird lifted their price objective on Karman from $40.00 to $50.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. Finally, Citigroup reaffirmed a "buy" rating and issued a $58.00 price target (up from $46.50) on shares of Karman in a report on Monday, June 9th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Karman presently has a consensus rating of "Buy" and an average target price of $49.25.

Karman Stock Performance

Shares of Karman stock traded down $1.24 during trading on Friday, reaching $46.97. The company's stock had a trading volume of 1,688,858 shares, compared to its average volume of 1,165,872. The stock has a 50-day moving average of $48.30. The company has a quick ratio of 3.23, a current ratio of 3.34 and a debt-to-equity ratio of 1.15. Karman has a one year low of $25.02 and a one year high of $57.31.

Karman (NYSE:KRMN - Get Free Report) last released 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 business's revenue for the quarter was up 35.3% compared to the same quarter last year.

Insider Transactions at Karman

In related news, CFO Michael Willis sold 100,000 shares of Karman stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $49.00, for a total value of $4,900,000.00. Following the completion of the sale, the chief financial officer directly owned 974,709 shares in the company, valued at $47,760,741. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jonathan Beaudoin sold 80,000 shares of Karman stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $49.00, for a total value of $3,920,000.00. Following the completion of the sale, the chief operating officer owned 740,861 shares of the company's stock, valued at approximately $36,302,189. The trade was a 9.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,865,968 shares of company stock valued at $1,169,432,432 in the last three months.

Institutional Trading of Karman

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KRMN. Global Trust Asset Management LLC acquired a new position in shares of Karman during the 2nd quarter worth about $50,000. Penserra Capital Management LLC acquired a new position in shares of Karman during the 2nd quarter worth about $95,000. Amalgamated Bank acquired a new position in shares of Karman during the 2nd quarter worth about $100,000. SBI Securities Co. Ltd. acquired a new position in shares of Karman during the 1st quarter worth about $107,000. Finally, US Bancorp DE acquired a new position in shares of Karman during the 1st quarter worth about $124,000.

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.