Redwire (NYSE:RDW) Trading Down 7% – Should You Sell?

Redwire Corporation (NYSE:RDW)’s stock price fell 7% during mid-day trading on Tuesday . The stock traded as low as $9.01 and last traded at $9.2150. 4,892,390 shares were traded during mid-day trading, a decline of 79% from the average session volume of 23,831,469 shares. The stock had previously closed at $9.91.

Analysts Set New Price Targets

Several brokerages recently issued reports on RDW. Truist Financial raised Redwire from a “hold” rating to a “buy” rating and increased their price objective for the stock from $13.00 to $15.00 in a research note on Monday, March 9th. Roth Mkm reissued a “buy” rating and issued a $20.00 price objective on shares of Redwire in a research note on Wednesday, January 28th. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Jefferies Financial Group dropped their price objective on Redwire from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Thursday, January 22nd. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.89.

Redwire Stock Performance

The business has a fifty day simple moving average of $9.28 and a two-hundred day simple moving average of $8.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 1.27. The company has a market cap of $1.85 billion, a PE ratio of -4.06 and a beta of 2.49.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.19). The company had revenue of $108.79 million for the quarter, compared to analysts’ expectations of $98.78 million. Redwire had a negative return on equity of 13.04% and a negative net margin of 67.55%. Research analysts anticipate that Redwire Corporation will post -0.85 earnings per share for the current year.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 2,500,000 shares of the company’s stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $9.45, for a total transaction of $23,625,000.00. Following the completion of the sale, the director owned 33,635,217 shares in the company, valued at $317,852,800.65. This represents a 6.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 47,080,418 shares of company stock worth $510,916,860 in the last ninety days. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Redwire

A number of hedge funds have recently bought and sold shares of RDW. Sunbelt Securities Inc. lifted its holdings in shares of Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after purchasing an additional 3,396 shares during the last quarter. CWM LLC lifted its holdings in shares of Redwire by 1,725.0% during the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after purchasing an additional 3,864 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Redwire by 1,054.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after purchasing an additional 3,668 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Redwire during the 3rd quarter valued at $41,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Redwire by 308.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock valued at $44,000 after purchasing an additional 3,672 shares during the last quarter. Hedge funds and other 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.