Redwire (NYSE:RDW) Stock Price Down 6.3% – Should You Sell?

Redwire Corporation (NYSE:RDW) traded down 6.3% during mid-day trading on Tuesday . The stock traded as low as $12.20 and last traded at $12.20. 26,706,038 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 32,341,180 shares. The stock had previously closed at $13.02.

Analysts Set New Price Targets

RDW has been the subject of a number of recent research reports. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Jefferies Financial Group raised Redwire to a “hold” rating in a research note on Wednesday, June 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. Canaccord Genuity Group raised their price target on Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Truist Financial raised Redwire to a “strong-buy” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $15.44.

Redwire Trading Down 6.3%

The business’s fifty day moving average price is $14.11 and its 200 day moving average price is $10.90. 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 $2.91 billion, a PE ratio of -4.55 and a beta of 2.91.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.24). The firm had revenue of $96.97 million for the quarter, compared to analysts’ expectations of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business’s quarterly revenue was up 57.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) EPS. As a group, analysts expect 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 3,145,207 shares of the firm’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $10.57, for a total transaction of $33,244,837.99. Following the sale, the director owned 26,273,144 shares in the company, valued at $277,707,132.08. This trade represents a 10.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 15,711,433 shares of company stock worth $171,201,208. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Redwire

A number of large investors have recently bought and sold shares of RDW. Parallel Advisors LLC acquired a new position in shares of Redwire during the first quarter worth about $28,000. KBC Group NV acquired a new position in shares of Redwire during the first quarter worth $29,000. Sunbelt Securities Inc. boosted its stake in shares of Redwire by 601.1% in the fourth 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 period. CWM LLC boosted its stake in shares of Redwire by 1,725.0% in 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 during the period. Finally, Rockefeller Capital Management L.P. grew its holdings in 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 in 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.