Redwire (NYSE:RDW) Shares Down 5.8% – Time to Sell?

Redwire Corporation (NYSE:RDW) traded down 5.8% on Wednesday . The stock traded as low as $9.64 and last traded at $10.0190. 8,278,643 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 20,155,580 shares. The stock had previously closed at $10.64.

Analyst Upgrades and Downgrades

RDW has been the topic of several recent research reports. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Roth Capital restated a “buy” rating and issued a $15.00 target price on shares of Redwire in a research note on Thursday, November 6th. Truist Financial lowered their price target on shares of Redwire from $11.00 to $8.00 and set a “hold” rating for the company in a report on Friday, November 7th. Canaccord Genuity Group cut their price objective on shares of Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Finally, Industrial Alliance Securities set a $9.00 target price on Redwire in a research note on Thursday, November 6th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Redwire currently has a consensus rating of “Hold” and a consensus target price of $12.50.

Redwire Stock Performance

The company has a market cap of $1.65 billion, a P/E ratio of -3.14 and a beta of 2.44. The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average price of $6.80 and a 200-day moving average price of $9.80.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.15). The company had revenue of $103.43 million for the quarter, compared to the consensus estimate of $132.05 million. Redwire had a negative net margin of 70.32% and a negative return on equity of 16.24%. Equities analysts expect that Redwire Corporation will post -0.85 EPS for the current fiscal year.

Insider Activity

In related news, CAO Chris Edmunds acquired 5,500 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average price of $5.46 per share, for a total transaction of $30,030.00. Following the completion of the purchase, the chief accounting officer directly owned 107,441 shares of the company’s stock, valued at $586,627.86. The trade was a 5.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Aaron Michael Futch bought 18,410 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were purchased at an average cost of $5.45 per share, for a total transaction of $100,334.50. Following the acquisition, the executive vice president owned 88,704 shares of the company’s stock, valued at $483,436.80. This represents a 26.19% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 56,065 shares of company stock worth $330,047 over the last three months. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in shares of Redwire by 352.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock valued at $2,945,000 after purchasing an additional 276,814 shares during the period. AE Industrial Partners LP lifted its stake in Redwire by 139.3% during the second quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock valued at $1,394,000 after buying an additional 49,765,262 shares in the last quarter. Canal Insurance CO purchased a new stake in Redwire during the second quarter valued at about $3,260,000. Voya Investment Management LLC acquired a new position in shares of Redwire in the third quarter worth about $20,372,000. Finally, Geode Capital Management LLC increased its position in shares of Redwire by 77.1% in the second quarter. Geode Capital Management LLC now owns 935,297 shares of the company’s stock worth $15,248,000 after acquiring an additional 407,131 shares in the last quarter. 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.