Redwire (NYSE:RDW) Trading Down 10.2% – What’s Next?

Shares of Redwire Corporation (NYSE:RDW) fell 10.2% during mid-day trading on Tuesday . The stock traded as low as $10.13 and last traded at $10.2050. Approximately 16,385,162 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 31,831,326 shares. The stock had previously closed at $11.36.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RDW. Wall Street Zen cut shares of Redwire from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a research note 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 Redwire to a “hold” rating in a report on Wednesday, June 10th. Finally, Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Redwire currently has a consensus rating of “Moderate Buy” and an average price target of $15.44.

Redwire Stock Up 0.3%

The business has a 50-day moving average price of $14.38 and a 200 day moving average price of $11.28. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $2.54 billion, a P/E ratio of -3.98 and a beta of 3.01.

Redwire (NYSE:RDW) last announced its 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 business had revenue of $96.97 million for the quarter, compared to analysts’ expectations of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The firm’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.09) earnings per share. On average, equities analysts expect that Redwire Corporation will post -0.81 EPS for the current fiscal year.

Insider Transactions at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 12,261,289 shares of company stock valued at $138,347,138. 0.79% of the stock is owned by insiders.

Institutional Trading of Redwire

Several hedge funds and other institutional investors have recently bought and sold shares of RDW. Hennion & Walsh Asset Management Inc. boosted its position in Redwire by 82.7% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 63,067 shares of the company’s stock valued at $771,000 after purchasing an additional 28,540 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Redwire during the 2nd quarter valued at $1,730,000. Militia Capital Management LLC purchased a new stake in shares of Redwire during the first quarter worth about $281,000. Parallel Advisors LLC acquired a new stake in Redwire in the 1st quarter worth approximately $28,000. Finally, Bank of America Corp DE grew its holdings in shares of Redwire by 7,512.5% during the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after buying an additional 6,730,414 shares during the last quarter. 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.