Karman Holdings Inc. (NYSE:KRMN) Short Interest Up 49.0% in September

Karman Holdings Inc. (NYSE:KRMN) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 3,770,000 shares, an increase of 49.0% from the September 15th total of 2,530,000 shares. Based on an average trading volume of 1,720,000 shares, the short-interest ratio is currently 2.2 days. Approximately 3.7% of the company’s stock are sold short. Approximately 3.7% of the company’s stock are sold short. Based on an average trading volume of 1,720,000 shares, the short-interest ratio is currently 2.2 days.

Karman Stock Down 2.3%

Shares of NYSE KRMN opened at $77.14 on Thursday. Karman has a 12-month low of $25.02 and a 12-month high of $80.32. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.58 and a current ratio of 2.75. The firm has a 50 day moving average of $64.85 and a 200 day moving average of $50.84.

Karman (NYSE:KRMN) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). The firm had revenue of $115.10 million for the quarter. The business’s revenue was up 35.3% on a year-over-year basis. Karman has set its FY 2025 guidance at EPS.

Insiders Place Their Bets

In related news, major shareholder Spaceco Spv Lp Tcfiii sold 23,623,968 shares of the company’s 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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Willis sold 100,000 shares of Karman stock in a transaction on 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 of the company’s stock, valued at approximately $47,760,741. The trade was a 9.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,865,968 shares of company stock valued at $1,169,432,432.

Institutional Trading of Karman

Hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its position in Karman by 56.4% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $33,000 after buying an additional 164 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Karman by 5,718.2% in the 3rd quarter. Global Retirement Partners LLC now owns 640 shares of the company’s stock worth $46,000 after acquiring an additional 629 shares in the last quarter. Global Trust Asset Management LLC purchased a new stake in Karman in the 2nd quarter worth approximately $50,000. Penserra Capital Management LLC bought a new stake in Karman during the 2nd quarter worth approximately $95,000. Finally, Amalgamated Bank purchased a new position in Karman during the second quarter valued at approximately $100,000.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KRMN. Weiss Ratings restated a “sell (d+)” rating on shares of Karman in a research note on Wednesday, October 8th. Evercore ISI increased their price objective on shares of Karman from $58.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Truist Financial started coverage on shares of Karman in a research report on Friday, October 10th. They issued a “buy” rating and a $89.00 target price for the company. Raymond James Financial started coverage on Karman in a report on Friday, September 5th. They set a “strong-buy” rating and a $100.00 price target on the stock. Finally, Royal Bank Of Canada raised their price target on Karman from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Karman has a consensus rating of “Buy” and an average price target of $71.50.

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.