Redwire (NYSE:RDW) Stock Price Down 7.3% – Should You Sell?

Redwire Corporation (NYSE:RDW)’s stock price fell 7.3% during trading on Wednesday . The stock traded as low as $11.28 and last traded at $11.3270. 20,664,188 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 32,273,723 shares. The stock had previously closed at $12.22.

Wall Street Analyst Weigh In

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

Redwire Stock Down 7.3%

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 stock has a market cap of $2.71 billion, a PE ratio of -4.23 and a beta of 2.91. The firm has a fifty day moving average of $14.17 and a 200 day moving average of $10.95.

Redwire (NYSE:RDW) last announced 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). Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The business had revenue of $96.97 million for the quarter, compared to analysts’ expectations of $105.94 million. During the same period last year, the firm earned ($0.09) earnings per share. The firm’s quarterly revenue was up 57.9% on a year-over-year basis. On average, equities research analysts anticipate that Redwire Corporation will post -0.76 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. This represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 13,211,433 shares of company stock worth $147,576,208 in the last three months. 0.79% of the stock is owned by insiders.

Institutional Trading of Redwire

Several institutional investors have recently modified their holdings of RDW. Parallel Advisors LLC purchased a new position in shares of Redwire in the 1st quarter valued at $28,000. KBC Group NV acquired a new position in Redwire in the first quarter valued at $29,000. Sunbelt Securities Inc. grew its holdings in shares of Redwire by 601.1% during the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after purchasing an additional 3,396 shares during the last quarter. CWM LLC grew its holdings in shares of Redwire by 1,725.0% during 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 during the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in shares of Redwire by 1,054.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after purchasing an additional 3,668 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

About Redwire

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.