Redwire Corporation (NYSE:RDW – Get Free Report)’s share price fell 4.5% during trading on Tuesday. The stock traded as low as $10.65 and last traded at $10.6950. 13,646,826 shares were traded during trading, a decline of 48% from the average daily volume of 26,438,711 shares. The stock had previously closed at $11.20.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. Cantor Fitzgerald increased their price objective on shares of Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Guggenheim initiated coverage on shares of Redwire in a research report on Monday, September 14th. They set a “neutral” rating on the stock. Canaccord Genuity Group upped their target price on shares of Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Jefferies Financial Group set a $15.00 price target on shares of Redwire in a report on Sunday, August 9th. Finally, Bank of America lifted their price target on shares of Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a research note on Monday, August 31st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Redwire presently has a consensus rating of “Hold” and a consensus price target of $14.69.
Read Our Latest Stock Analysis on RDW
Redwire Price Performance
Redwire (NYSE:RDW – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. The firm 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%. On average, research analysts forecast that Redwire Corporation will post -0.7 EPS for the current fiscal year.
Insider Activity
In other news, Director Ae Red Holdings, Llc sold 929,435 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $11.34, for a total transaction of $10,539,792.90. Following the transaction, the director owned 147,984 shares of the company’s stock, valued at approximately $1,678,138.56. This trade represents a 86.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.79% of the company’s stock.
Institutional Investors Weigh In On Redwire
Institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC acquired a new position in shares of Redwire in the 1st quarter valued at about $28,000. KBC Group NV acquired a new stake in shares of Redwire during the 1st quarter worth approximately $29,000. Rockefeller Capital Management L.P. raised its position in shares of Redwire by 1,054.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after purchasing an additional 3,668 shares during the period. IFP Advisors Inc increased its position in Redwire by 3,662.5% in the second quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock worth $44,000 after buying an additional 3,516 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in Redwire in the second quarter valued at $57,000. 8.10% of the stock is currently owned by institutional investors.
About Redwire
Redwire Corporation is a space infrastructure and technology company that develops products and services for government, commercial and international space customers. Its capabilities support the design, manufacture and operation of spacecraft, space systems and related infrastructure across missions in low Earth orbit and beyond.
The company’s offerings include digital engineering and mission-support services, spacecraft platforms, avionics, sensors, power systems, deployable structures and solar arrays.
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