Atika Capital Management LLC Purchases New Stake in Karman Holdings Inc. $KRMN

Atika Capital Management LLC acquired a new position in Karman Holdings Inc. (NYSE:KRMN) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 90,500 shares of the company’s stock, valued at approximately $7,245,000. Karman accounts for approximately 0.9% of Atika Capital Management LLC’s investment portfolio, making the stock its 28th biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC acquired a new stake in shares of Karman during the 1st quarter worth approximately $10,199,000. Goldman Sachs Group Inc. bought a new position in Karman in the first quarter valued at approximately $17,371,000. Jane Street Group LLC acquired a new stake in Karman during the 1st quarter worth $532,000. Rhumbline Advisers acquired a new stake in Karman during the 2nd quarter worth $1,316,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Karman during the 2nd quarter valued at $554,000.

Karman Stock Up 4.1%

Karman stock opened at $49.55 on Friday. The firm has a market capitalization of $6.57 billion, a PE ratio of 215.44 and a beta of 0.51. The company’s 50-day moving average is $52.60 and its 200-day moving average is $76.84. Karman Holdings Inc. has a fifty-two week low of $43.68 and a fifty-two week high of $118.38. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.53 and a quick ratio of 3.38.

Karman (NYSE:KRMN) last issued its earnings results on Tuesday, May 12th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. Karman had a net margin of 5.73% and a return on equity of 14.94%. The business had revenue of $151.21 million during the quarter, compared to the consensus estimate of $150.19 million. During the same period last year, the business posted $0.05 EPS. Karman’s revenue was up 51.0% on a year-over-year basis. Sell-side analysts anticipate that Karman Holdings Inc. will post 0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

KRMN has been the topic of a number of analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $100.00 price target on shares of Karman in a research note on Tuesday, June 2nd. Weiss Ratings cut Karman from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, June 29th. KeyCorp lowered their price target on Karman from $122.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, May 20th. Piper Sandler cut their price target on shares of Karman from $127.00 to $114.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 19th. Finally, Truist Financial upgraded shares of Karman to a “strong-buy” rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Karman presently has a consensus rating of “Moderate Buy” and an average price target of $103.50.

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.