Redwire (NYSE:RDW) Stock Price Down 3.2% – Here’s What Happened

Redwire Corporation (NYSE:RDW) fell 3.2% on Monday . The stock traded as low as $13.10 and last traded at $13.16. 18,792,983 shares were traded during mid-day trading, a decline of 36% from the average session volume of 29,556,109 shares. The stock had previously closed at $13.59.

Analyst Ratings Changes

Several equities research analysts recently commented on RDW shares. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Thursday. Canaccord Genuity Group upped their price target on Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday. Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a research report on Sunday. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Cantor Fitzgerald boosted their target price on shares of Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.44.

Redwire Trading Down 3.2%

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 business’s 50 day moving average is $12.22 and its 200-day moving average is $11.32. The firm has a market cap of $3.14 billion, a P/E ratio of -9.01 and a beta of 3.05.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 12.65%. The firm had revenue of $117.07 million for the quarter, compared to analysts’ expectations of $107.10 million. As a group, analysts forecast that Redwire Corporation will post -0.88 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s 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 sale, the director owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This represents a 49.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Redwire

A number of hedge funds have recently bought and sold shares of the company. Wealthfront Advisers LLC acquired a new stake in Redwire during the second quarter valued at approximately $529,000. BlackRock Inc. acquired a new position in shares of Redwire in the 2nd quarter worth approximately $196,514,000. Deutsche Bank AG acquired a new position in shares of Redwire in the 2nd quarter worth approximately $2,529,000. Perigon Wealth Management LLC bought a new stake in shares of Redwire in the 2nd quarter valued at approximately $874,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Redwire in the 2nd quarter valued at approximately $16,583,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.