Redwire (NYSE:RDW) Shares Down 4.5% – What’s Next?

Redwire Corporation (NYSE:RDW) shares fell 4.5% during trading on Wednesday . The company traded as low as $11.10 and last traded at $11.2360. Approximately 12,555,332 shares traded hands during trading, a decline of 53% from the average daily volume of 26,726,738 shares. The stock had previously closed at $11.76.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Friday, July 17th. Jefferies Financial Group set a $15.00 price target on Redwire in a research note on Sunday, August 9th. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Canaccord Genuity Group boosted their price objective on shares of Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, Guggenheim began coverage on shares of Redwire in a report on Monday, September 14th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.69.

Redwire Stock Down 4.5%

The stock’s 50 day simple moving average is $10.79 and its two-hundred day simple moving average is $11.70. The firm has a market cap of $2.81 billion, a P/E ratio of -7.70 and a beta of 3.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. The company had revenue of $117.07 million during the quarter, compared to analyst estimates of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. As a group, research analysts forecast that Redwire Corporation will post -0.7 earnings per share for the current year.

Hedge Funds Weigh In On Redwire

Large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Redwire during the 2nd quarter valued at about $196,514,000. Van ECK Associates Corp raised its holdings in Redwire by 173.0% in the second quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company’s stock worth $83,791,000 after buying an additional 4,341,424 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Redwire by 7,512.5% in the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock worth $57,970,000 after buying an additional 6,730,414 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Redwire in the second quarter worth approximately $16,583,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Redwire during the second quarter valued at approximately $11,186,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Redwire Company Profile

Redwire Corporation is a space infrastructure and technology company that develops products and services for government, commercial and international space customers. Its capabilities support the design, manufacture and operation of spacecraft, space systems and related infrastructure across missions in low Earth orbit and beyond.

The company’s offerings include digital engineering and mission-support services, spacecraft platforms, avionics, sensors, power systems, deployable structures and solar arrays.