Redwire (NYSE:RDW) Shares Down 2.8% – Here’s Why

Shares of Redwire Corporation (NYSE:RDW) fell 2.8% during mid-day trading on Friday . The company traded as low as $10.02 and last traded at $10.1810. 10,700,722 shares were traded during trading, a decline of 66% from the average session volume of 31,403,488 shares. The stock had previously closed at $10.47.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RDW shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. Jefferies Financial Group upgraded Redwire to a “hold” rating in a report on Wednesday, June 10th. Canaccord Genuity Group lifted their price objective 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. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. Finally, Truist Financial raised shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Stock Performance

The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $14.44 and a 200 day moving average price of $11.29. The stock has a market cap of $2.43 billion, a P/E ratio of -3.80 and a beta of 3.01.

Redwire (NYSE:RDW) last issued its quarterly earnings results 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 business 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%.Redwire’s revenue was up 57.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) earnings per share. As a group, sell-side analysts expect that Redwire Corporation will post -0.81 EPS for the current year.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction 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 approximately $23,142,960.12. The trade was a 49.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 11,680,271 shares of company stock worth $132,937,861 in the last ninety days. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Redwire

Several large investors have recently added to or reduced their stakes in RDW. Parallel Advisors LLC bought a new position in Redwire in the 1st quarter worth about $28,000. KBC Group NV bought a new stake in shares of Redwire during the first quarter valued at approximately $29,000. Sunbelt Securities Inc. raised its stake in shares of 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 acquiring an additional 3,396 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Redwire by 1,054.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after purchasing an additional 3,668 shares during the period. Finally, CWM LLC grew its stake in Redwire by 1,725.0% in the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after purchasing 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

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.