Redwire (NYSE:RDW) Director Sells $8,795,797.92 in Stock

Redwire Corporation (NYSE:RDW) Director Ae Red Holdings, Llc sold 872,599 shares of Redwire stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $10.08, for a total transaction of $8,795,797.92. Following the transaction, the director owned 82,759,684 shares of the company’s stock, valued at $834,217,614.72. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ae Red Holdings, Llc also recently made the following trade(s):

• On Thursday, January 8th, Ae Red Holdings, Llc sold 1,772,193 shares of Redwire stock. The stock was sold at an average price of $10.27, for a total transaction of $18,200,422.11.
• On Tuesday, January 6th, Ae Red Holdings, Llc sold 1,862,063 shares of Redwire stock. The shares were sold at an average price of $10.44, for a total transaction of $19,439,937.72.

Redwire Stock Up 6.8%

RDW stock traded up $0.69 during mid-day trading on Friday, reaching $10.97. 25,522,013 shares of the company traded hands, compared to its average volume of 23,990,869. The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. The firm’s 50 day moving average price is $6.89 and its 200 day moving average price is $9.80. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -3.46 and a beta of 2.44. Redwire Corporation has a fifty-two week low of $4.87 and a fifty-two week high of $26.66.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, November 5th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.15). The company had revenue of $103.43 million during the quarter, compared to the consensus estimate of $132.05 million. Redwire had a negative net margin of 70.32% and a negative return on equity of 16.24%. As a group, equities research analysts predict that Redwire Corporation will post -0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RDW. AE Industrial Partners LP boosted its holdings in shares of Redwire by 139.3% in the second quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock worth $1,394,000 after acquiring an additional 49,765,262 shares during the period. Voya Investment Management LLC purchased a new stake in Redwire during the 3rd quarter worth about $20,372,000. Hood River Capital Management LLC bought a new position in Redwire in the 2nd quarter worth about $36,206,000. Cooper Creek Partners Management LLC purchased a new position in Redwire during the 2nd quarter valued at about $32,652,000. Finally, Two Sigma Investments LP grew its holdings in Redwire by 489.3% during the 3rd quarter. Two Sigma Investments LP now owns 1,049,292 shares of the company’s stock valued at $9,433,000 after buying an additional 871,223 shares in the last quarter. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RDW. Bank of America lowered their target price on shares of Redwire from $9.00 to $6.00 and set an “underperform” rating for the company in a report on Wednesday, November 19th. KeyCorp started coverage on shares of Redwire in a report on Thursday, December 18th. They set a “sector weight” rating on the stock. Truist Financial set a $13.00 price objective on shares of Redwire in a research note on Friday. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Canaccord Genuity Group reduced their target price on Redwire from $17.50 to $11.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Redwire has an average rating of “Hold” and a consensus price target of $13.13.

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.