Redwire (NYSE:RDW) Shares Down 7.1% – Time to Sell?

Redwire Corporation (NYSE:RDW)’s stock price dropped 7.1% on Friday . The stock traded as low as $7.97 and last traded at $7.9880. Approximately 13,357,087 shares changed hands during trading, a decline of 55% from the average daily volume of 29,746,506 shares. The stock had previously closed at $8.60.

Wall Street Analyst Weigh In

RDW has been the topic of a number of recent research reports. Bank of America lowered their price target on shares of Redwire from $9.00 to $6.00 and set an “underperform” rating on the stock in a research report on Wednesday, November 19th. iA Financial set a $9.00 price target on shares of Redwire in a research note on Thursday, November 6th. Canaccord Genuity Group decreased their price target on Redwire from $17.50 to $11.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research report on Thursday, January 22nd. Finally, Truist Financial set a $13.00 target price on Redwire in a research note on Friday, January 9th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $13.75.

Redwire Stock Down 7.1%

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’s 50 day moving average price is $9.52 and its 200 day moving average price is $8.56. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -2.52 and a beta of 2.45.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 12,656,683 shares of the stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $10.51, for a total value of $133,021,738.33. Following the sale, the director owned 61,541,253 shares of the company’s stock, valued at $646,798,569.03. This trade represents a 17.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 40,400,346 shares of company stock valued at $453,127,301. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Hedge funds and other institutional investors have recently bought and sold shares of the business. AE Industrial Partners LP raised its position in Redwire by 139.3% during the second quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock worth $1,394,000 after acquiring an additional 49,765,262 shares during the last quarter. Voya Investment Management LLC purchased a new stake in Redwire during the 3rd quarter worth approximately $20,372,000. Hood River Capital Management LLC bought a new position in shares of Redwire during the second quarter worth about $36,206,000. Cooper Creek Partners Management LLC bought a new position in shares of Redwire in the 2nd quarter worth about $32,652,000. Finally, State Street Corp boosted its position in Redwire by 61.1% during the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after purchasing an additional 1,786,038 shares during the period. Institutional investors and hedge funds 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.