Redwire (NYSE:RDW) Trading Down 8.1% – What’s Next?

Redwire Corporation (NYSE:RDW) shares fell 8.1% during mid-day trading on Monday . The stock traded as low as $13.08 and last traded at $13.1810. 6,079,993 shares were traded during mid-day trading, a decline of 81% from the average session volume of 32,188,625 shares. The stock had previously closed at $14.35.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RDW. Wall Street Zen raised shares of Redwire from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a report on Friday, May 1st. Canaccord Genuity Group lifted their price target on shares of Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $15.44.

Redwire Price Performance

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 business’s fifty day moving average price is $14.03 and its 200-day moving average price is $10.85. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of -4.84 and a beta of 2.91.

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

Insider Activity

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $21.48, for a total value of $22,995,736.20. Following the completion of the sale, the director owned 1,077,419 shares in the company, valued at $23,142,960.12. This represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 23,211,433 shares of company stock valued at $239,826,208. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in Redwire by 7,512.5% in the 1st quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after buying an additional 6,730,414 shares during the last quarter. State Street Corp lifted its holdings in Redwire by 61.1% during the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after acquiring an additional 1,786,038 shares during the period. UBS Group AG boosted its position in Redwire by 140.8% in the fourth quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock worth $15,503,000 after purchasing an additional 1,192,885 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Redwire in the 4th quarter valued at $7,676,000. Finally, Van ECK Associates Corp increased its position in shares of Redwire by 231.0% during the 4th quarter. Van ECK Associates Corp now owns 1,436,535 shares of the company’s stock valued at $10,918,000 after purchasing an additional 1,002,504 shares during the last quarter. 8.10% of the stock is owned by institutional investors.

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.