Redwire (NYSE:RDW) Shares Down 1.8% – Time to Sell?

Redwire Corporation (NYSE:RDW)’s share price dropped 1.8% during trading on Friday. The company traded as low as $9.40 and last traded at $9.5810. 9,093,903 shares traded hands during trading, a decline of 65% from the average session volume of 25,922,354 shares. The stock had previously closed at $9.76.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RDW. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Canaccord Genuity Group raised their price objective on shares of Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Cantor Fitzgerald lifted their price objective on shares of Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Jefferies Financial Group set a $15.00 target price on shares of Redwire in a research note on Sunday, August 9th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $14.69.

Redwire Trading Down 1.8%

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 $2.40 billion, a PE ratio of -6.56 and a beta of 3.12. The company has a fifty day simple moving average of $11.28 and a two-hundred day simple moving average of $11.81.

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

Insider Activity at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 929,435 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $11.34, for a total value of $10,539,792.90. Following the sale, the director directly owned 147,984 shares of the company’s stock, valued at approximately $1,678,138.56. This represents a 86.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Redwire by 70.4% in the third quarter. GAMMA Investing LLC now owns 3,213 shares of the company’s stock valued at $34,000 after buying an additional 1,327 shares during the last quarter. Parallel Advisors LLC purchased a new stake in Redwire during the 1st quarter worth about $28,000. KBC Group NV acquired a new position in shares of Redwire during the 1st quarter worth about $29,000. IFP Advisors Inc boosted its position in shares of Redwire by 3,662.5% during the 2nd quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock worth $44,000 after acquiring an additional 3,516 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of Redwire by 1,054.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after acquiring an additional 3,668 shares during the last quarter. 8.10% of the stock is owned by hedge funds and other institutional investors.

About Redwire

Redwire Corporation is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its work supports space exploration, national security, civil space programs and the growing commercial space economy.

The company’s offerings include spacecraft platforms, avionics, sensors, deployable structures, solar arrays, in-space manufacturing systems, robotic technologies and components designed for satellite and space station applications.