Redwire (NYSE:RDW) Trading Down 6.3% – Should You Sell?

Redwire Corporation (NYSE:RDW)’s stock price dropped 6.3% on Tuesday . The company traded as low as $12.20 and last traded at $12.20. 26,706,038 shares were traded during trading, a decline of 17% from the average daily volume of 32,341,180 shares. The stock had previously closed at $13.02.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RDW shares. Truist Financial raised shares of Redwire to a “strong-buy” rating in a report on Friday, May 1st. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Jefferies Financial Group raised shares of Redwire to a “hold” rating in a report on Wednesday, June 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. Finally, Canaccord Genuity Group upped their target price on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a report on Monday, May 11th. One investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -3.91 and a beta of 2.92. The company has a 50-day simple moving average of $14.19 and a two-hundred day simple moving average of $10.98.

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 the consensus estimate of ($0.16) by ($0.24). The firm had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business’s revenue was up 57.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.09) EPS. On average, equities research analysts predict that Redwire Corporation will post -0.76 earnings per share for the current year.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. The trade was a 49.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 13,211,433 shares of company stock valued at $147,576,208. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its position in shares of Redwire by 4.4% during the fourth quarter. Farther Finance Advisors LLC now owns 20,897 shares of the company’s stock worth $159,000 after buying an additional 877 shares during the period. Parvin Asset Management LLC increased its position in Redwire by 6.9% in the 1st quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock valued at $152,000 after acquiring an additional 1,150 shares during the period. Tower Research Capital LLC TRC increased its position in Redwire by 32.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock valued at $102,000 after acquiring an additional 1,533 shares during the period. BNP Paribas Financial Markets raised its stake in Redwire by 12.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 30,396 shares of the company’s stock valued at $495,000 after acquiring an additional 3,248 shares in the last quarter. Finally, Parallel Advisors LLC bought a new stake in Redwire during the 1st quarter valued at $28,000. 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.