Redwire (NYSE:RDW) Trading Down 9.6% – What’s Next?

Redwire Corporation (NYSE:RDW)’s share price dropped 9.6% during trading on Wednesday . The company traded as low as $18.27 and last traded at $18.6140. Approximately 40,828,375 shares traded hands during mid-day trading, an increase of 34% from the average daily volume of 30,375,637 shares. The stock had previously closed at $20.58.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RDW shares. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. Jefferies Financial Group downgraded Redwire from a “buy” rating to a “hold” rating and lifted their price target for the stock from $13.00 to $24.00 in a research report on Monday. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Canaccord Genuity Group boosted their target price on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Redwire has a consensus rating of “Moderate Buy” and a consensus price target of $15.44.

Redwire Trading Down 5.4%

The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of -7.58 and a beta of 2.92. The business has a 50-day moving average of $12.61 and a two-hundred day moving average of $10.06.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.24). Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The firm had revenue of $96.97 million during the quarter, compared to analyst estimates of $105.94 million. During the same period last year, the company earned ($0.09) EPS. The company’s revenue was up 57.9% on a year-over-year basis. Research analysts predict that Redwire Corporation will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 7,500,000 shares of Redwire stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $9.15, for a total transaction of $68,625,000.00. Following the sale, the director owned 36,135,217 shares in the company, valued at $330,637,235.55. The trade was a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 23,327,795 shares of company stock valued at $228,806,188 over the last three months. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Redwire

Hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC acquired a new stake in shares of Redwire during the 1st quarter valued at about $28,000. KBC Group NV bought a new position in Redwire during the first quarter worth about $29,000. Sunbelt Securities Inc. lifted its stake in 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 period. CWM LLC boosted its holdings in Redwire by 1,725.0% during the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after purchasing an additional 3,864 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Redwire by 1,054.0% in 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 period. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.