Karman (NYSE:KRMN) Shares Down 16% – Here’s What Happened

Karman Holdings Inc. (NYSE:KRMN)’s share price traded down 16% during mid-day trading on Friday . The company traded as low as $27.34 and last traded at $27.61. 1,187,677 shares traded hands during mid-day trading, an increase of 23% from the average session volume of 962,222 shares. The stock had previously closed at $32.85.

Analysts Set New Price Targets

A number of research firms have recently issued reports on KRMN. Robert W. Baird began coverage on shares of Karman in a research report on Monday, March 10th. They set an “outperform” rating and a $40.00 price target for the company. Royal Bank of Canada lifted their price objective on Karman from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday. William Blair started coverage on Karman in a report on Monday, March 10th. They issued an “outperform” rating on the stock. Baird R W upgraded Karman to a “strong-buy” rating in a research report on Monday, March 10th. Finally, Evercore ISI started coverage on shares of Karman in a research report on Monday, March 10th. They issued an “outperform” rating and a $38.00 price objective on the stock. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $39.50.

Karman Price Performance

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.