Karman (NYSE:KRMN) Stock Price Down 4.5% - Here's Why

Shares of Karman Holdings Inc. (NYSE:KRMN - Get Free Report) 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 were traded 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

KRMN has been the topic of several recent research reports. Royal Bank of Canada lifted their price target on shares of Karman from $38.00 to $44.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. Robert W. Baird lifted their target price on Karman from $40.00 to $50.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Baird R W raised Karman to a "strong-buy" rating in a research report on Monday, March 10th. William Blair began coverage on Karman in a research note on Monday, March 10th. They issued an "outperform" rating for the company. Finally, Evercore ISI started coverage on Karman in a research note on Monday, March 10th. They set an "outperform" rating and a $38.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Karman presently has a consensus rating of "Buy" and a consensus price target of $47.50.

Karman Stock Up 4.2%

The stock's 50 day moving average is $38.12.

Karman (NYSE:KRMN - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $100.12 million during the quarter, compared to the consensus estimate of $95.40 million. The business's revenue was up 20.6% on a year-over-year basis.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC bought a new stake in shares of Karman in the first quarter valued at about $532,000. Woodline Partners LP bought a new position in shares of Karman during the first quarter worth approximately $5,700,000. Zimmer Partners LP acquired a new stake in shares of Karman in the first quarter valued at approximately $6,684,000. Goldman Sachs Group Inc. bought a new stake in shares of Karman in the first quarter valued at approximately $17,371,000. Finally, Select Equity Group L.P. acquired a new stake in Karman during the first quarter worth approximately $6,550,000.

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.