Redwire (NYSE:RDW) Stock Price Down 1.1% – Time to Sell?

Shares of Redwire Corporation (NYSE:RDWGet Free Report) fell 1.1% on Monday . The company traded as low as $13.38 and last traded at $13.43. 16,884,119 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 29,131,107 shares. The stock had previously closed at $13.58.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RDW. Jefferies Financial Group set a $15.00 price objective on Redwire in a research report on Sunday, August 9th. Cantor Fitzgerald increased their price target on Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Canaccord Genuity Group raised their price target on Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.44.

Read Our Latest Analysis on RDW

Redwire Price Performance

The stock has a market capitalization of $3.36 billion, a PE ratio of -9.20 and a beta of 3.05. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average price is $11.56 and its 200-day moving average price is $11.40.

Redwire (NYSE:RDWGet Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.07. The company had revenue of $117.07 million for the quarter, compared to the consensus estimate of $107.10 million. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. As a group, equities analysts forecast that Redwire Corporation will post -0.68 EPS for the current year.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total value of $22,995,736.20. Following the completion of the sale, the director directly owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This represents a 49.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDW. Bank of America Corp DE purchased a new position in Redwire during the 2nd quarter valued at about $13,124,000. Jupiter Topco LLC bought a new stake in Redwire during the second quarter valued at about $894,000. Hsbc Holdings PLC bought a new position in shares of Redwire during the 2nd quarter worth approximately $350,000. Legal & General Group Plc purchased a new stake in shares of Redwire during the 2nd quarter valued at $1,763,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Redwire during the 2nd quarter valued at about $1,303,000. 8.10% of the stock is currently owned by institutional investors.

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.

Further Reading

Receive News & Ratings for Redwire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redwire and related companies with MarketBeat.com's FREE daily email newsletter.