Redwire (NYSE:RDW) Trading Down 4.6% – Should You Sell?

Shares of Redwire Corporation (NYSE:RDW) dropped 4.6% during trading on Wednesday . The stock traded as low as $10.69 and last traded at $10.7150. 12,344,945 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 27,469,695 shares. The stock had previously closed at $11.23.

Analyst Ratings Changes

A number of analysts have issued reports on RDW shares. Wall Street Zen raised Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Bank of America boosted their price target on shares of Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a research note on Monday, August 31st. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research report on Thursday, August 6th. Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a research note on Sunday, August 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.69.

Redwire Stock Down 4.6%

The firm’s fifty day simple moving average is $10.73 and its 200 day simple moving average is $11.55. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.68 billion, a price-to-earnings ratio of -7.34 and a beta of 3.08.

Redwire (NYSE:RDW) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.07. The business had revenue of $117.07 million during the quarter, compared to analysts’ expectations of $107.10 million. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. Sell-side analysts predict that Redwire Corporation will post -0.7 earnings per share for the current year.

Insider Buying and Selling at Redwire

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director owned 1,077,419 shares in the company, valued at $23,142,960.12. The trade was a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in Redwire by 125.0% during the 1st quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock worth $426,000 after acquiring an additional 28,576 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Redwire by 352.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock valued at $2,945,000 after purchasing an additional 276,814 shares during the last quarter. Strs Ohio purchased a new stake in shares of Redwire in the 1st quarter valued at about $69,000. Rhumbline Advisers boosted its position in shares of Redwire by 61.0% in the 2nd quarter. Rhumbline Advisers now owns 56,517 shares of the company’s stock valued at $921,000 after purchasing an additional 21,417 shares during the period. Finally, Invesco Ltd. grew its stake in Redwire by 57.6% during the 2nd quarter. Invesco Ltd. now owns 21,198 shares of the company’s stock worth $346,000 after buying an additional 7,750 shares during the last quarter. Institutional investors and hedge funds 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.