Redwire (NYSE:RDW) Shares Down 4.6% – What’s Next?

Shares of Redwire Corporation (NYSE:RDW – Get Free Report) were down 4.6% during mid-day trading on Thursday. The company traded as low as $9.56 and last traded at $9.7640. Approximately 11,030,543 shares were traded during mid-day trading, a decline of 58% from the average session volume of 26,007,797 shares. The stock had previously closed at $10.24.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Bank of America lifted their price objective on shares of Redwire from $7.00 to $8.00 and gave the company an “underperform” rating in a research report on Monday, August 31st. Cantor Fitzgerald boosted their target price on shares of Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research report on Friday, July 17th. Finally, Alliance Global Partners restated a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.69.

Get Our Latest Analysis on RDW

Redwire Price Performance

The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of -6.69 and a beta of 3.12. 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 business has a fifty day moving average price of $11.25 and a 200 day moving average price of $11.81.

Redwire (NYSE:RDW – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.07. The business had revenue of $117.07 million during 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 expect that Redwire Corporation will post -0.7 earnings per share for the current fiscal year.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 929,435 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were 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 of the company’s stock, valued at approximately $1,678,138.56. This represents a 86.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Redwire in the second quarter worth approximately $196,514,000. Van ECK Associates Corp increased its position in shares of Redwire by 173.0% during the 2nd quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company’s stock valued at $83,791,000 after purchasing an additional 4,341,424 shares during the period. Bank of America Corp DE raised its stake in shares of 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 worth $57,970,000 after buying an additional 6,730,414 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Redwire in the 2nd quarter worth $16,583,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Redwire in the second quarter valued at $11,186,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

About Redwire

(Get Free Report)

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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