Redwire (NYSE:RDW) Trading Down 4.4% – What’s Next?

Redwire Corporation (NYSE:RDWGet Free Report)’s stock price fell 4.4% during mid-day trading on Wednesday . The stock traded as low as $11.94 and last traded at $12.3760. Approximately 13,780,797 shares were traded during mid-day trading, a decline of 52% from the average session volume of 28,943,174 shares. The stock had previously closed at $12.94.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Truist Financial upgraded Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research report on Thursday, August 6th. Canaccord Genuity Group upped their price target on Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Jefferies Financial Group set a $15.00 target price on shares of Redwire in a research report on Sunday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.44.

View Our Latest Stock Report on Redwire

Redwire Price Performance

The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -8.48 and a beta of 3.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48. The stock’s 50 day simple moving average is $11.40 and its two-hundred day simple moving average is $11.39.

Redwire (NYSE:RDWGet Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. The company had revenue of $117.07 million during the quarter, compared to analysts’ expectations of $107.10 million. On average, analysts forecast that Redwire Corporation will post -0.68 earnings per share for the current fiscal year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the completion of the transaction, the director owned 1,077,419 shares in the company, valued at $23,142,960.12. This trade represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Redwire

Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC bought a new stake in Redwire during the first quarter worth about $28,000. KBC Group NV acquired a new stake in Redwire during the 1st quarter valued at $29,000. Sunbelt Securities Inc. boosted its stake in Redwire by 601.1% in the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after purchasing an additional 3,396 shares in the last quarter. CWM LLC grew its holdings in shares of Redwire by 1,725.0% during the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after purchasing an additional 3,864 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Redwire by 1,054.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after buying an additional 3,668 shares during the last quarter. Institutional investors and hedge funds 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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