Readystate Asset Management LP Purchases New Stake in Karman Holdings Inc. $KRMN

Readystate Asset Management LP purchased a new stake in shares of Karman Holdings Inc. (NYSE:KRMN) in the 2nd quarter, Holdings Channel reports. The fund purchased 113,675 shares of the company’s stock, valued at approximately $5,675,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position in shares of Karman by 889.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 386 shares of the company’s stock valued at $28,000 after purchasing an additional 347 shares during the period. CX Institutional bought a new stake in shares of Karman during the 2nd quarter worth about $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in Karman in the 3rd quarter valued at about $29,000. Tsfg LLC bought a new position in Karman in the 2nd quarter valued at about $30,000. Finally, Huntington National Bank bought a new position in Karman in the 4th quarter valued at about $32,000.

Analyst Ratings Changes

KRMN has been the subject of a number of research analyst reports. Citigroup boosted their price objective on Karman from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Evercore set a $100.00 price target on Karman in a report on Wednesday, May 13th. Piper Sandler restated an “overweight” rating and issued a $91.00 price target (down from $114.00) on shares of Karman in a research note on Friday, August 7th. Weiss Ratings raised Karman from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada lowered their price objective on Karman from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Karman has a consensus rating of “Moderate Buy” and a consensus price target of $92.10.

Karman Price Performance

KRMN stock opened at $40.15 on Monday. The company’s 50-day moving average price is $50.91 and its two-hundred day moving average price is $66.29. The firm has a market cap of $5.32 billion, a P/E ratio of 138.45 and a beta of 0.47. The company has a quick ratio of 3.40, a current ratio of 3.56 and a debt-to-equity ratio of 2.01. Karman Holdings Inc. has a 12 month low of $39.19 and a 12 month high of $118.38.

Karman (NYSE:KRMN) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $182.06 million during the quarter. Karman had a net margin of 6.31% and a return on equity of 15.54%. The business’s revenue was up 58.2% on a year-over-year basis. During the same period last year, the company posted $0.10 EPS. On average, analysts anticipate that Karman Holdings Inc. will post 0.58 earnings per share for the current fiscal year.

Karman 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.