Redwire (NYSE:RDW) Shares Gap Down – Here’s What Happened

Redwire Corporation (NYSE:RDW) gapped down before the market opened on Tuesday . The stock had previously closed at $18.57, but opened at $17.00. Redwire shares last traded at $17.05, with a volume of 18,673,336 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Truist Financial raised Redwire to a “strong-buy” rating in a report on Friday, May 1st. Canaccord Genuity Group lifted their price objective on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a report on Monday, May 11th. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Finally, Jefferies Financial Group cut Redwire from a “buy” rating to a “hold” rating and lifted their price objective for the company from $13.00 to $24.00 in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Redwire currently has a consensus rating of “Moderate Buy” and an average target price of $15.44.

Redwire Stock Performance

The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of -5.53 and a beta of 2.91. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37. The stock has a 50 day moving average price of $12.99 and a two-hundred day moving average price of $10.24.

Redwire (NYSE:RDW) last announced its earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $96.97 million during the quarter, compared to analyst estimates of $105.94 million. During the same quarter last year, the business posted ($0.09) earnings per share. The business’s quarterly revenue was up 57.9% compared to the same quarter last year. On average, analysts predict that Redwire Corporation will post -0.76 EPS for the current fiscal year.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 977,887 shares of the firm’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $10.57, for a total value of $10,336,265.59. Following the completion of the sale, the director directly owned 21,494,349 shares in the company, valued at approximately $227,195,268.93. This trade represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 23,327,795 shares of company stock valued at $228,806,188 in the last three months. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Andar Capital Management HK Ltd increased its position in Redwire by 76.5% in the third quarter. Andar Capital Management HK Ltd now owns 300,000 shares of the company’s stock worth $2,697,000 after purchasing an additional 130,000 shares during the period. JPMorgan Chase & Co. increased its position in Redwire by 2,556.0% in the third quarter. JPMorgan Chase & Co. now owns 577,271 shares of the company’s stock worth $5,190,000 after purchasing an additional 555,536 shares during the period. Capelight Capital Asset Management LP acquired a new stake in Redwire in the fourth quarter worth about $1,330,000. AE Industrial Partners LP increased its position in Redwire by 7.1% in the third quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock worth $823,472,000 after purchasing an additional 6,101,959 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Redwire in the fourth quarter worth about $7,676,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.