Redwire (NYSE:RDW) Stock Price Down 7.1% – Here’s Why

Redwire Corporation (NYSE:RDW) shares were down 7.1% on Friday . The stock traded as low as $7.97 and last traded at $7.9880. Approximately 13,357,087 shares were traded during trading, a decline of 55% from the average daily volume of 29,746,506 shares. The stock had previously closed at $8.60.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Cantor Fitzgerald decreased their target price on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Canaccord Genuity Group reduced their price target on shares of Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Truist Financial set a $13.00 price objective on shares of Redwire in a research note on Friday, January 9th. HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of Redwire in a research note on Tuesday, December 23rd. Finally, KeyCorp assumed coverage on Redwire in a report on Thursday, December 18th. They issued a “sector weight” rating on the stock. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.75.

Redwire Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.05 and a current ratio of 1.41. The firm has a market cap of $1.32 billion, a P/E ratio of -2.52 and a beta of 2.45. The company’s 50 day moving average is $9.52 and its 200 day moving average is $8.52.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 12,656,683 shares of the stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $10.51, for a total value of $133,021,738.33. Following the completion of the transaction, the director directly owned 61,541,253 shares in the company, valued at approximately $646,798,569.03. This represents a 17.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 40,400,346 shares of company stock valued at $453,127,301. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Redwire

Several large investors have recently bought and sold shares of RDW. Sunbelt Securities Inc. grew its holdings in shares of Redwire by 601.1% during the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after purchasing an additional 3,396 shares during the last quarter. CWM LLC raised its holdings in Redwire by 1,725.0% in the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after buying an additional 3,864 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in Redwire during the 3rd quarter worth approximately $41,000. Russell Investments Group Ltd. grew its holdings in Redwire by 308.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock worth $44,000 after acquiring an additional 3,672 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Redwire by 440.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock worth $60,000 after acquiring an additional 5,395 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors.

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.