Redwire (NYSE:RDW) Shares Down 1.1% – Here’s What Happened

Redwire Corporation (NYSE:RDW) shares were down 1.1% on Monday . The company traded as low as $13.38 and last traded at $13.43. Approximately 16,884,119 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 29,131,107 shares. The stock had previously closed at $13.58.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group raised their price target on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Cantor Fitzgerald upped their price objective on Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Truist Financial raised Redwire to a “strong-buy” rating in a report on Friday, May 1st. Wall Street Zen raised Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Jefferies Financial Group set a $15.00 target price on Redwire in a research note on Sunday, August 9th. 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 stock. According to data from MarketBeat, Redwire has an average rating of “Hold” and an average target price of $14.44.

Redwire Price Performance

The stock has a market cap of $3.22 billion, a P/E ratio of -8.83 and a beta of 3.05. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03. The business’s 50-day simple moving average is $11.40 and its two-hundred day simple moving average is $11.39.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.07. The company had revenue of $117.07 million for the quarter, compared to analyst estimates of $107.10 million. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. Sell-side analysts expect that Redwire Corporation will post -0.68 EPS for the current year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’s stock in a transaction 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 sale, the director 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Redwire

Several hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Redwire in the 4th quarter worth approximately $7,676,000. Trivest Advisors Ltd purchased a new position in shares of Redwire during the 1st quarter valued at $5,398,000. Sei Investments Co. grew its position in shares of Redwire by 173.2% during the 1st quarter. Sei Investments Co. now owns 117,834 shares of the company’s stock valued at $1,002,000 after purchasing an additional 74,700 shares in the last quarter. Alberta Investment Management Corp purchased a new position in shares of Redwire during the 2nd quarter valued at $2,528,000. Finally, Empowered Funds LLC bought a new position in shares of Redwire in the first quarter worth $2,094,000. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.