Karman (NYSE:KRMN) Stock Price Down 4.5% - Time to Sell?

Karman Holdings Inc. (NYSE:KRMN - Get Free Report)'s stock price fell 4.5% during mid-day trading on Tuesday . The stock traded as low as $44.59 and last traded at $44.59. 245,605 shares were traded during mid-day trading, a decline of 72% from the average session volume of 881,111 shares. The stock had previously closed at $46.68.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KRMN. Royal Bank of Canada lifted their price objective 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. Evercore ISI assumed coverage on Karman in a research report on Monday, March 10th. They set an "outperform" rating and a $38.00 price target on the stock. Citigroup restated a "buy" rating and set a $58.00 price objective (up from $46.50) on shares of Karman in a research report on Monday. William Blair started coverage on Karman in a report on Monday, March 10th. They issued an "outperform" rating on the stock. Finally, Robert W. Baird boosted their price objective on shares of Karman from $40.00 to $50.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $47.50.

Karman Stock Performance

The business has a 50-day moving average price of $38.90.

Karman (NYSE:KRMN - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.03. The firm had revenue of $100.12 million for the quarter, compared to analyst estimates of $95.40 million. The company's quarterly revenue was up 20.6% on a year-over-year basis.

Hedge Funds Weigh In On Karman

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. bought a new stake in Karman during the 1st quarter worth approximately $61,024,000. Price T Rowe Associates Inc. MD acquired a new position in Karman in the 1st quarter valued at $58,799,000. Invesco Ltd. acquired a new stake in shares of Karman during the 1st quarter worth $50,220,000. T. Rowe Price Investment Management Inc. acquired a new stake in Karman during the first quarter worth about $48,691,000. Finally, Alliancebernstein L.P. acquired a new stake in shares of Karman during the 1st quarter worth approximately $37,182,000.

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.