Redwire (NYSE:RDW) Shares Down 5.8% After Insider Selling

Redwire Corporation (NYSE:RDW)’s stock price traded down 5.8% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $9.64 and last traded at $10.0190. 8,278,643 shares changed hands during trading, a decline of 59% from the average session volume of 20,155,580 shares. The stock had previously closed at $10.64.

Specifically, Director Ae Red Holdings, Llc sold 1,862,063 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $10.44, for a total value of $19,439,937.72. Following the completion of the sale, the director directly owned 83,632,283 shares of the company’s stock, valued at $873,121,034.52. This trade represents a 2.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RDW shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Wednesday, October 8th. Canaccord Genuity Group cut their price target on shares of Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Cantor Fitzgerald dropped their target price on Redwire from $20.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Finally, HC Wainwright reissued a “buy” rating and set a $22.00 price target on shares of Redwire in a research note on Tuesday, December 23rd. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.13.

Redwire Stock Performance

The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average price of $6.89 and a 200 day moving average price of $9.80. The stock has a market cap of $1.69 billion, a PE ratio of -3.24 and a beta of 2.44.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.15). The business had revenue of $103.43 million during the quarter, compared to the consensus estimate of $132.05 million. Redwire had a negative return on equity of 16.24% and a negative net margin of 70.32%. As a group, research analysts forecast that Redwire Corporation will post -0.85 earnings per share for the current year.

Institutional Trading of Redwire

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC raised its position in Redwire by 125.0% during the first quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock valued at $426,000 after acquiring an additional 28,576 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Redwire by 352.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after purchasing an additional 276,814 shares during the period. Strs Ohio purchased a new position in shares of Redwire during the 1st quarter valued at approximately $69,000. Harbor Investment Advisory LLC lifted its stake in shares of Redwire by 70.8% in the 2nd quarter. Harbor Investment Advisory LLC now owns 20,500 shares of the company’s stock valued at $334,000 after purchasing an additional 8,500 shares during the period. Finally, Register Financial Advisors LLC purchased a new stake in Redwire during the second quarter worth $3,640,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

About Redwire

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.