Van ECK Associates Corp Sells 36,647 Shares of Karman Holdings Inc. $KRMN

Van ECK Associates Corp trimmed its holdings in shares of Karman Holdings Inc. (NYSE:KRMN) by 2.8% during the third quarter, HoldingsChannel reports. The firm owned 1,272,861 shares of the company’s stock after selling 36,647 shares during the quarter. Van ECK Associates Corp’s holdings in Karman were worth $91,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC boosted its position in Karman by 56.4% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $33,000 after purchasing an additional 164 shares during the period. Global Retirement Partners LLC increased its holdings in shares of Karman by 5,718.2% in the third quarter. Global Retirement Partners LLC now owns 640 shares of the company’s stock worth $46,000 after purchasing an additional 629 shares during the period. Penserra Capital Management LLC purchased a new stake in shares of Karman in the 2nd quarter valued at about $95,000. Wilmington Savings Fund Society FSB purchased a new stake in Karman in the third quarter valued at approximately $101,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of Karman during the 3rd quarter worth $116,000.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Truist Financial set a $118.00 price objective on shares of Karman in a research note on Friday, January 9th. Evercore upped their target price on Karman from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. Piper Sandler upgraded Karman from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $110.00 to $127.00 in a report on Friday, March 6th. KeyCorp lifted their price target on shares of Karman from $80.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Finally, BWS Financial reissued a “sell” rating and issued a $37.00 price target on shares of Karman in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.56.

Karman Stock Performance

NYSE:KRMN opened at $102.77 on Wednesday. Karman Holdings Inc. has a 52-week low of $25.02 and a 52-week high of $118.38. The firm has a market capitalization of $13.60 billion and a PE ratio of 411.06. The stock has a 50-day simple moving average of $95.29 and a two-hundred day simple moving average of $78.50. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.69 and a current ratio of 2.86.

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. 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.