Redwire (NYSE:RDW) Shares Down 1.7% – Should You Sell?

Shares of Redwire Corporation (NYSE:RDWGet Free Report) were down 1.7% during mid-day trading on Monday . The stock traded as low as $10.53 and last traded at $10.69. Approximately 10,809,980 shares traded hands during trading, a decline of 61% from the average daily volume of 28,059,027 shares. The stock had previously closed at $10.87.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RDW shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. Bank of America increased 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. Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a research note on Sunday, August 9th. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Cantor Fitzgerald upped their price objective on Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Redwire currently has an average rating of “Hold” and a consensus price target of $14.69.

Check Out Our Latest Research Report on RDW

Redwire Price Performance

The stock has a market capitalization of $2.67 billion, a P/E ratio of -7.32 and a beta of 3.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92. The firm has a fifty day moving average price of $10.89 and a two-hundred day moving average price of $11.44.

Redwire (NYSE:RDWGet Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. The company had revenue of $117.07 million for the quarter, compared to the consensus estimate of $107.10 million. As a group, analysts expect that Redwire Corporation will post -0.68 EPS for the current fiscal year.

Insider Buying and Selling at Redwire

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total value of $22,995,736.20. Following the completion of the transaction, the director owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. This represents a 49.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Redwire

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC bought a new position in shares of Redwire during the 1st quarter valued at about $28,000. KBC Group NV purchased a new stake in shares of Redwire in the first quarter worth about $29,000. Sunbelt Securities Inc. boosted its stake in Redwire by 601.1% during the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after buying an additional 3,396 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in Redwire by 1,054.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after buying an additional 3,668 shares during the last quarter. Finally, CWM LLC grew its holdings in Redwire by 1,725.0% during the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after buying an additional 3,864 shares in the last quarter. 8.10% of the stock is owned by hedge funds and other institutional investors.

Redwire Company Profile

(Get Free Report)

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.

Further Reading

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