Redwire (NYSE:RDW) Shares Down 12.4% After Insider Selling

Redwire Corporation (NYSE:RDW) shares fell 12.4% on Thursday after an insider sold shares in the company. The stock traded as low as $7.81 and last traded at $7.89. 22,658,756 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 32,370,883 shares. The stock had previously closed at $9.01.

Specifically, Director Ae Red Holdings, Llc sold 49,985 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $10.01, for a total transaction of $500,349.85. Following the completion of the sale, the director owned 45,094,000 shares in the company, valued at approximately $451,390,940. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ae Red Holdings, Llc sold 1,385,507 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $10.10, for a total value of $13,993,620.70. Following the completion of the transaction, the director owned 45,143,985 shares in the company, valued at $455,954,248.50. This trade represents a 2.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analyst Weigh In

RDW has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a report on Thursday, January 22nd. Zacks Research cut shares of Redwire from a “hold” rating to a “strong sell” rating in a research note on Tuesday. KeyCorp assumed coverage on shares of Redwire in a research report on Thursday, December 18th. They set a “sector weight” rating for the company. Bank of America lowered their target price on shares of Redwire from $9.00 to $6.00 and set an “underperform” rating on the stock in a report on Wednesday, November 19th. Finally, Cantor Fitzgerald dropped their price target on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $13.75.

Redwire Price Performance

The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -2.53 and a beta of 2.45. The company’s 50 day moving average is $9.43 and its 200 day moving average is $8.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.05.

Institutional Investors Weigh In On Redwire

Institutional investors have recently modified their holdings of the company. AE Industrial Partners LP boosted its position in Redwire by 7.1% during the third quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock worth $823,472,000 after purchasing an additional 6,101,959 shares in the last quarter. State Street Corp boosted its position in shares of Redwire by 61.1% in the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after buying an additional 1,786,038 shares in the last quarter. Vanguard Group Inc. grew its stake in Redwire by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock valued at $29,153,000 after acquiring an additional 91,045 shares during the last quarter. Voya Investment Management LLC purchased a new position in Redwire during the 3rd quarter valued at about $20,372,000. Finally, Hood River Capital Management LLC acquired a new position in Redwire during the second quarter worth about $36,206,000. Hedge funds and other institutional investors 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.