Redwire (NYSE:RDW) Stock Price Down 3.2% – What’s Next?

Redwire Corporation (NYSE:RDW) shares traded down 3.2% on Monday . The company traded as low as $13.10 and last traded at $13.16. 18,792,983 shares changed hands during trading, a decline of 36% from the average daily volume of 29,556,109 shares. The stock had previously closed at $13.59.

Wall Street Analysts Forecast Growth

RDW has been the topic of a number of recent research reports. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a research report on Saturday. Canaccord Genuity Group increased their price objective on Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday. Finally, Jefferies Financial Group set a $15.00 price objective on Redwire in a research report on Sunday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Redwire currently has a consensus rating of “Hold” and a consensus target price of $14.44.

Redwire Stock Performance

The stock has a market cap of $3.25 billion, a price-to-earnings ratio of -9.33 and a beta of 3.05. 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’s 50-day moving average is $11.93 and its 200-day moving average is $11.36.

Redwire (NYSE:RDW) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.07. Redwire had a negative return on equity of 12.65% and a negative net margin of 57.26%.The company had revenue of $117.07 million during the quarter, compared to the consensus estimate of $107.10 million. Analysts anticipate that Redwire Corporation will post -0.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the transaction, the director directly owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC acquired a new stake in shares of Redwire in the first quarter worth approximately $28,000. KBC Group NV acquired a new position in Redwire during the first quarter worth approximately $29,000. Sunbelt Securities Inc. increased its position in 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. Rockefeller Capital Management L.P. raised its stake in 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 during the period. Finally, CWM LLC raised its stake in 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 period. 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.