Redwire Corporation (NYSE:RDW – Get Free Report)’s share price was down 4.3% on Monday. The stock traded as low as $10.24 and last traded at $10.4110. Approximately 17,867,147 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 26,185,902 shares. The stock had previously closed at $10.88.
Analysts Set New Price Targets
RDW has been the subject of a number of analyst reports. Bank of America raised their price objective on Redwire from $7.00 to $8.00 and gave the company an “underperform” rating in a research report on Monday, August 31st. Guggenheim assumed coverage on Redwire in a research note on Monday, September 14th. They issued a “neutral” rating on the stock. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Canaccord Genuity Group lifted 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. Finally, Cantor Fitzgerald upped their price target on shares of Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Redwire currently has an average rating of “Hold” and an average target price of $14.69.
Check Out Our Latest Stock Analysis on Redwire
Redwire Stock Performance
Redwire (NYSE:RDW – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.07. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%.The business had revenue of $117.07 million for the quarter, compared to the consensus estimate of $107.10 million. Equities research analysts predict that Redwire Corporation will post -0.7 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Ae Red Holdings, Llc sold 929,435 shares of Redwire stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $11.34, for a total value of $10,539,792.90. Following the completion of the sale, the director directly owned 147,984 shares in the company, valued at approximately $1,678,138.56. This trade represents a 86.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.79% of the company’s stock.
Institutional Trading of Redwire
A number of institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC purchased a new position in shares of Redwire during the first quarter valued at approximately $28,000. KBC Group NV bought a new stake in Redwire in the 1st quarter worth approximately $29,000. Rockefeller Capital Management L.P. grew its position in Redwire by 1,054.0% in 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 raised its stake in Redwire by 3,662.5% during the 2nd quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock valued at $44,000 after buying an additional 3,516 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Redwire during the 2nd quarter valued at $57,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.
About Redwire
Redwire Corporation is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its work supports space exploration, national security, civil space programs and the growing commercial space economy.
The company’s offerings include spacecraft platforms, avionics, sensors, deployable structures, solar arrays, in-space manufacturing systems, robotic technologies and components designed for satellite and space station applications.
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