Space and defense co Karman climbs on S&P SmallCap addition

Karman Holdings

15/07/2026 12:49

** Shares of space and defense systems maker Karman Holdings KRMN.N up 4.3% to $47.82 before the bell on Weds as it's set to join S&P SmallCap 600 index .SPCY
** KRMN to replace BrightSpring Health Services BTSG.O in SPCY effective Fri, Jul 17, S&P Dow Jones Indices announced late Tues
** BTSG migrating to S&P MidCap 400 index .IDX and will replace Chart Industries GTLS.N, which is being acquired by oilfield services firm Baker Hughes BKR.O in $13.6 bln deal announced a year ago
** BTSG shares down 0.8% in thin trading premarket
** Stephens analyst Melissa Roberts said in a note she expects passive funds will need to buy 12.3 mln KRMN shares, implying about 4 days of purchasing demand
** Huntington Beach, California-based KRMN has ~132.5 mln shares outstanding for $6 bln market cap
** At Tues close, KRMN stock down 37% YTD
** 10 of 11 analysts rate the stock "strong buy" or "buy", 1 recommends "sell"; median PT $107, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))