Redwire (NYSE:RDW) Shares Gap Down – Here’s Why

Redwire Corporation (NYSE:RDW) gapped down before the market opened on Thursday . The stock had previously closed at $24.00, but opened at $22.94. Redwire shares last traded at $24.4230, with a volume of 20,448,298 shares changing hands.

Analyst Ratings Changes

A number of research firms recently weighed in on RDW. Jefferies Financial Group reissued a “buy” rating and issued a $13.00 price objective on shares of Redwire in a research report on Sunday, May 10th. Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Canaccord Genuity Group increased their price objective on shares of 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 shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.22.

Redwire Price Performance

The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $4.77 billion, a PE ratio of -9.22 and a beta of 2.41. The stock’s 50-day moving average is $11.12 and its two-hundred day moving average is $9.38.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). The firm had revenue of $96.97 million during the quarter, compared to analysts’ expectations of $105.94 million. Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The business’s revenue for the quarter was up 57.9% compared to the same quarter last year. During the same period last year, the company earned ($0.09) earnings per share. On average, equities analysts predict that Redwire Corporation will post -0.7 EPS for the current year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the company’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $9.15, for a total value of $68,625,000.00. Following the transaction, the director directly owned 36,135,217 shares in the company, valued at $330,637,235.55. This represents a 17.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 23,327,795 shares of company stock valued at $228,806,188. 0.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Redwire

Hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC bought a new position in Redwire in the 1st quarter worth about $28,000. KBC Group NV bought a new position in Redwire in the 1st quarter worth about $29,000. Sunbelt Securities Inc. grew its stake in Redwire by 601.1% in the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after acquiring an additional 3,396 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in Redwire by 1,054.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after acquiring an additional 3,668 shares in the last quarter. Finally, CWM LLC grew its stake in Redwire by 1,725.0% in the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after acquiring an additional 3,864 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors.

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.