Redwire Corporation (NYSE:RDW – Get Free Report) shares dropped 4.8% on Tuesday . The stock traded as low as $11.03 and last traded at $11.5820. Approximately 27,410,104 shares traded hands during mid-day trading, an increase of 10% from the average daily volume of 24,818,234 shares. The stock had previously closed at $12.16.
Analyst Upgrades and Downgrades
RDW has been the topic of several analyst reports. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a report on Friday, May 1st. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Canaccord Genuity Group increased their target price on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Monday. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $13.00 target price on shares of Redwire in a report on Sunday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Redwire has a consensus rating of “Moderate Buy” and a consensus target price of $14.22.
Get Our Latest Stock Analysis on RDW
Redwire Stock Performance
Redwire (NYSE:RDW – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). The firm had revenue of $96.97 million for the quarter, compared to the consensus estimate of $105.94 million. Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The firm’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.09) earnings per share. On average, research analysts anticipate that Redwire Corporation will post -0.61 EPS for the current year.
Insider Transactions at Redwire
In other Redwire news, Director Ae Red Holdings, Llc sold 977,887 shares of Redwire stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $10.57, for a total value of $10,336,265.59. Following the sale, the director directly owned 21,494,349 shares in the company, valued at approximately $227,195,268.93. The trade was a 4.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 23,327,795 shares of company stock valued at $228,806,188. 0.79% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Andar Capital Management HK Ltd increased its position in shares of Redwire by 76.5% during the 3rd quarter. Andar Capital Management HK Ltd now owns 300,000 shares of the company’s stock worth $2,697,000 after purchasing an additional 130,000 shares during the last quarter. Register Financial Advisors LLC grew its position in shares of Redwire by 46.8% in the 3rd quarter. Register Financial Advisors LLC now owns 327,900 shares of the company’s stock valued at $2,948,000 after acquiring an additional 104,597 shares during the period. JPMorgan Chase & Co. grew its position in shares of Redwire by 2,556.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 577,271 shares of the company’s stock valued at $5,190,000 after acquiring an additional 555,536 shares during the period. Capelight Capital Asset Management LP bought a new position in shares of Redwire in the 4th quarter valued at about $1,330,000. Finally, Canal Insurance CO grew its position in shares of Redwire by 50.0% in the 3rd quarter. Canal Insurance CO now owns 300,000 shares of the company’s stock valued at $2,697,000 after acquiring an additional 100,000 shares during the period. Institutional investors and hedge funds own 8.10% of the company’s stock.
Redwire Company Profile
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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