Redwire (NYSE:RDW) Trading Down 5.4% – Time to Sell?

Redwire Corporation (NYSE:RDW)’s share price traded down 5.4% during mid-day trading on Thursday . The stock traded as low as $11.14 and last traded at $11.3220. 20,851,632 shares changed hands during trading, a decline of 35% from the average session volume of 32,084,148 shares. The stock had previously closed at $11.97.

Wall Street Analyst Weigh In

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

Redwire Stock Performance

The company’s 50-day moving average is $14.31 and its two-hundred day moving average is $11.14. 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 company has a market cap of $2.70 billion, a P/E ratio of -4.22 and a beta of 3.01.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.24). The company had revenue of $96.97 million during 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%.The business’s revenue was up 57.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.09) EPS. Equities analysts predict that Redwire Corporation will post -0.76 EPS for the current year.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total value of $22,995,736.20. Following the sale, the director 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 13,211,433 shares of company stock worth $147,576,208. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

Large investors have recently bought and sold shares of the company. Parallel Advisors LLC bought a new stake in shares of Redwire in the first quarter valued at $28,000. KBC Group NV bought a new position in shares of Redwire during the 1st quarter worth $29,000. Sunbelt Securities Inc. grew its stake in shares of Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after acquiring an additional 3,396 shares during the period. CWM LLC increased its holdings in Redwire by 1,725.0% in the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after acquiring an additional 3,864 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in Redwire by 1,054.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after acquiring an additional 3,668 shares during 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.