Redwire (NYSE:RDW) Trading Down 5.1% on Insider Selling

Shares of Redwire Corporation (NYSE:RDW) traded down 5.1% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $9.52 and last traded at $9.4810. 16,576,787 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 23,504,352 shares. The stock had previously closed at $9.99.

Specifically, Director Ae Red Holdings, Llc sold 790,393 shares of the business’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $9.78, for a total value of $7,730,043.54. Following the transaction, the director directly owned 31,313,662 shares in the company, valued at $306,247,614.36. The trade was a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ae Red Holdings, Llc sold 581,018 shares of Redwire stock in a transaction on Friday, April 10th. The shares were sold at an average price of $9.31, for a total value of $5,409,277.58. Following the completion of the transaction, the director owned 32,104,055 shares of the company’s stock, valued at approximately $298,888,752.05. The trade was a 1.78% decrease in their position. The SEC filing for this sale provides additional information. In related news, Director Ae Red Holdings, Llc sold 542,368 shares of Redwire stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $9.37, for a total value of $5,081,988.16. Following the completion of the transaction, the director directly owned 32,685,073 shares of the company’s stock, valued at $306,259,134.01. The trade was a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RDW shares. Jefferies Financial Group reduced their target price on shares of Redwire from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Thursday, January 22nd. KeyCorp initiated coverage on Redwire in a research note on Thursday, December 18th. They issued a “sector weight” rating for the company. Roth Mkm restated a “buy” rating and set a $20.00 target price on shares of Redwire in a research report on Wednesday, January 28th. Finally, Truist Financial upgraded Redwire from a “hold” rating to a “buy” rating and raised their price target for the company from $13.00 to $15.00 in a report on Monday, March 9th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Redwire has a consensus rating of “Moderate Buy” and an average target price of $13.89.

Redwire Trading Up 13.8%

The business’s 50 day simple moving average is $9.11 and its 200-day simple moving average is $8.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 1.27. The stock has a market capitalization of $2.16 billion, a P/E ratio of -4.76 and a beta of 2.49.

Redwire (NYSE:RDW) last issued its earnings results on Wednesday, February 25th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.19). Redwire had a negative net margin of 67.55% and a negative return on equity of 13.04%. The business had revenue of $108.79 million for the quarter, compared to the consensus estimate of $98.78 million. As a group, analysts forecast that Redwire Corporation will post -0.85 EPS for the current year.

Hedge Funds Weigh In On Redwire

Several hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. boosted its holdings in Redwire by 1,054.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after buying an additional 3,668 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Redwire by 3,976.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 269,873 shares of the company’s stock valued at $2,051,000 after acquiring an additional 263,253 shares during the period. Corecam Pte. Ltd. acquired a new stake in shares of Redwire in the 4th quarter valued at approximately $288,000. Alpine Global Management LLC bought a new position in Redwire during the 4th quarter worth approximately $93,000. Finally, Sunbelt Securities Inc. grew its holdings in Redwire by 601.1% during the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after purchasing an additional 3,396 shares during the period. Institutional investors and hedge funds own 8.10% of the company’s stock.

About Redwire

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.