Short Interest in Karman Holdings Inc. (NYSE:KRMN) Rises By 20.8%
by Renee Jackson · The Cerbat GemKarman Holdings Inc. (NYSE:KRMN – Get Free Report) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 8,039,575 shares, an increase of 20.8% from the December 15th total of 6,657,286 shares. Approximately 6.1% of the shares of the company are short sold. Based on an average daily trading volume, of 2,274,356 shares, the days-to-cover ratio is currently 3.5 days. Based on an average daily trading volume, of 2,274,356 shares, the days-to-cover ratio is currently 3.5 days. Approximately 6.1% of the shares of the company are short sold.
Insider Buying and Selling at Karman
In related news, COO Jonathan Beaudoin sold 74,000 shares of Karman stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $63.69, for a total value of $4,713,060.00. Following the completion of the transaction, the chief operating officer owned 666,861 shares in the company, valued at $42,472,377.09. The trade was a 9.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Willis sold 115,000 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $58.63, for a total value of $6,742,450.00. Following the completion of the transaction, the chief financial officer directly owned 859,709 shares of the company’s stock, valued at $50,404,738.67. The trade was a 11.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 251,000 shares of company stock valued at $15,419,170.
Institutional Trading of Karman
Several large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its stake in Karman by 56.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $33,000 after purchasing an additional 164 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Karman by 83.7% in the fourth quarter. GAMMA Investing LLC now owns 373 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Karman by 9.4% in the third quarter. Amalgamated Bank now owns 2,183 shares of the company’s stock valued at $158,000 after purchasing an additional 188 shares during the last quarter. Barclays PLC lifted its position in Karman by 2.2% during the third quarter. Barclays PLC now owns 12,964 shares of the company’s stock worth $936,000 after buying an additional 273 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in Karman during the third quarter worth $29,000.
Karman Price Performance
Shares of KRMN traded down $0.54 during trading hours on Monday, hitting $108.95. 2,444,542 shares of the stock were exchanged, compared to its average volume of 1,583,530. The stock’s 50-day moving average price is $75.66 and its two-hundred day moving average price is $67.12. Karman has a 12-month low of $25.02 and a 12-month high of $112.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.69 and a current ratio of 2.86. The company has a market cap of $14.42 billion and a price-to-earnings ratio of 435.80.
Karman (NYSE:KRMN – Get Free Report) last announced its quarterly earnings data on Friday, November 7th. The company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. Karman had a return on equity of 11.11% and a net margin of 2.65%.The company had revenue of $121.79 million for the quarter. During the same quarter in the previous year, the business posted $0.04 EPS. The company’s revenue for the quarter was up 41.7% on a year-over-year basis.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Royal Bank Of Canada cut their price objective on Karman from $93.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Karman in a research note on Monday, December 29th. Evercore ISI upped their price objective on shares of Karman from $58.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. KeyCorp began coverage on shares of Karman in a report on Thursday, December 18th. They set an “overweight” rating and a $80.00 price objective on the stock. Finally, Citigroup lifted their target price on shares of Karman from $84.00 to $123.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Karman has a consensus rating of “Moderate Buy” and a consensus price target of $83.50.
Read Our Latest Analysis on KRMN
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. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.