Redwire (NYSE:RDW) Shares Down 5.4% – Here’s Why

Redwire Corporation (NYSE:RDWGet Free Report)’s stock price traded down 5.4% during mid-day trading on Thursday . The stock traded as low as $10.11 and last traded at $10.7670. Approximately 27,075,579 shares were traded during trading, a decline of 16% from the average daily volume of 32,233,645 shares. The stock had previously closed at $11.38.

Analysts Set New Price Targets

RDW has been the subject of several recent analyst reports. Wall Street Zen raised shares of Redwire from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Truist Financial upgraded Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. Canaccord Genuity Group boosted their price target on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.44.

Get Our Latest Stock Analysis on Redwire

Redwire Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37. The firm has a market cap of $2.57 billion, a P/E ratio of -4.02 and a beta of 2.92. The stock’s 50-day simple moving average is $14.19 and its two-hundred day simple moving average is $10.98.

Redwire (NYSE:RDWGet Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.24). The firm had revenue of $96.97 million during the quarter, compared to the consensus estimate of $105.94 million. Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.Redwire’s revenue was up 57.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.09) EPS. Equities research analysts forecast that Redwire Corporation will post -0.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Redwire

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the completion of the sale, the director directly owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 13,211,433 shares of company stock valued at $147,576,208 in the last quarter. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Militia Capital Management LLC purchased a new position in Redwire in the 1st quarter worth about $281,000. Parallel Advisors LLC purchased a new stake in Redwire in the 1st quarter valued at about $28,000. Bank of America Corp DE boosted its position in Redwire by 7,512.5% in the 1st quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after buying an additional 6,730,414 shares during the period. Janus Henderson Group PLC grew its stake in Redwire by 157.5% in the 1st quarter. Janus Henderson Group PLC now owns 54,600 shares of the company’s stock worth $463,000 after acquiring an additional 33,400 shares in the last quarter. Finally, Amundi grew its stake in Redwire by 55.4% in the 1st quarter. Amundi now owns 40,197 shares of the company’s stock worth $342,000 after acquiring an additional 14,337 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

About Redwire

(Get Free Report)

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.

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