Weiss Ratings Reiterates “Sell (D-)” Rating for Redwire (NYSE:RDW)

Redwire (NYSE:RDW)‘s stock had its “sell (d-)” rating reissued by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

RDW has been the topic of a number of other research reports. Canaccord Genuity Group decreased their price objective on Redwire from $21.00 to $17.50 and set a “buy” rating on the stock in a research note on Monday, August 11th. Truist Financial set a $16.00 price target on Redwire and gave the stock a “hold” rating in a research note on Thursday, June 26th. Wall Street Zen lowered Redwire from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 9th. Bank of America began coverage on Redwire in a research note on Monday, August 18th. They issued an “underperform” rating and a $10.00 price target on the stock. Finally, B. Riley decreased their price target on Redwire from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Redwire presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.07.

Redwire Stock Down 10.8%

RDW opened at $9.79 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.46 and a debt-to-equity ratio of 0.21. The firm has a market cap of $1.41 billion, a P/E ratio of -3.01 and a beta of 2.47. Redwire has a 52 week low of $6.61 and a 52 week high of $26.66. The business’s fifty day simple moving average is $9.53 and its 200 day simple moving average is $12.16.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.28). The company had revenue of $61.76 million for the quarter, compared to analyst estimates of $80.48 million. Redwire had a negative net margin of 71.95% and a negative return on equity of 32.67%. As a group, equities research analysts anticipate that Redwire will post -0.85 EPS for the current fiscal year.

Insider Activity at Redwire

In related news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $7.83, for a total transaction of $86,130,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Redwire

Hedge funds have recently modified their holdings of the stock. KLP Kapitalforvaltning AS purchased a new stake in shares of Redwire during the 1st quarter valued at about $42,000. FNY Investment Advisers LLC purchased a new stake in shares of Redwire during the 1st quarter valued at about $47,000. GAMMA Investing LLC raised its holdings in shares of Redwire by 69,077.8% during the 1st quarter. GAMMA Investing LLC now owns 6,226 shares of the company’s stock valued at $52,000 after buying an additional 6,217 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of Redwire during the 2nd quarter valued at about $54,000. Finally, SBI Securities Co. Ltd. raised its holdings in shares of Redwire by 1,172.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 8,106 shares of the company’s stock valued at $67,000 after buying an additional 7,469 shares during the period. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

Redwire Company Profile

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.