Redwire (NYSE:RDW) Downgraded to Sell Rating by Wall Street Zen

Redwire (NYSE:RDW) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Jefferies Financial Group upgraded shares of Redwire to a “hold” rating in a report on Wednesday, June 10th. Finally, Canaccord Genuity Group raised their target price on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.44.

Redwire Stock Performance

Shares of NYSE:RDW opened at $11.32 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37. Redwire has a 1 year low of $4.87 and a 1 year high of $26.64. The firm has a market capitalization of $2.70 billion, a PE ratio of -4.22 and a beta of 3.01. The business’s 50 day moving average price is $14.32 and its 200-day moving average price is $11.17.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.24). Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The firm had revenue of $96.97 million during the quarter, compared to analyst estimates of $105.94 million. During the same period in the prior year, the company posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 57.9% compared to the same quarter last year. As a group, equities research analysts expect that Redwire will post -0.81 earnings per share for the current fiscal year.

Insider Activity

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total value of $22,995,736.20. Following the completion of the sale, the director directly owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. This trade represents a 49.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 13,211,433 shares of company stock valued at $147,576,208. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Redwire

A number of hedge funds have recently modified their holdings of RDW. Bank of America Corp DE increased its position in Redwire by 7,512.5% during the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock worth $57,970,000 after purchasing an additional 6,730,414 shares during the last quarter. State Street Corp raised its stake in Redwire by 61.1% during the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after purchasing an additional 1,786,038 shares during the period. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 91,045 shares during the last quarter. UBS Group AG boosted its holdings in Redwire by 140.8% in the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after purchasing an additional 1,192,885 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Redwire by 46.9% in the 4th quarter. Geode Capital Management LLC now owns 1,764,643 shares of the company’s stock valued at $13,413,000 after buying an additional 563,259 shares during the period. 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.