Redwire (NYSE:RDW) Shares Down 10.2% – What’s Next?

Shares of Redwire Corporation (NYSE:RDW) fell 10.2% during trading on Tuesday . The stock traded as low as $10.13 and last traded at $10.2050. Approximately 16,385,162 shares changed hands during trading, a decline of 49% from the average daily volume of 31,831,326 shares. The stock had previously closed at $11.36.

Analysts Set New Price Targets

RDW has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Wall Street Zen downgraded Redwire from a “hold” rating to a “sell” rating in a research report on Saturday. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. Finally, Jefferies Financial Group upgraded shares of Redwire to a “hold” rating in a research note on Wednesday, June 10th. One investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $15.44.

Redwire Stock Performance

The firm’s 50 day simple moving average is $14.35 and its 200 day simple moving average is $11.23. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of -3.81 and a beta of 3.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75.

Redwire (NYSE:RDW) last posted its 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). The business had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The company’s revenue for the quarter was up 57.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. Sell-side analysts forecast that Redwire Corporation will post -0.81 earnings per share for the current fiscal year.

Insider Activity at Redwire

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the sale, the director directly owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. This trade represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 13,211,433 shares of company stock valued at $147,576,208 in the last quarter. 0.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Redwire

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC purchased a new position in shares of Redwire during the 1st quarter valued at approximately $28,000. KBC Group NV purchased a new position in Redwire during the first quarter worth approximately $29,000. Sunbelt Securities Inc. grew its holdings in 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. Rockefeller Capital Management L.P. increased its position in shares of Redwire by 1,054.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after buying an additional 3,668 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Redwire by 1,725.0% during the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after buying an additional 3,864 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.