Redwire (NYSE:RDW) Stock Price Down 11.5% – Here’s Why

Redwire Corporation (NYSE:RDW)’s stock price dropped 11.5% on Friday . The stock traded as low as $23.00 and last traded at $22.9340. Approximately 14,114,568 shares were traded during trading, a decline of 52% from the average daily volume of 29,428,498 shares. The stock had previously closed at $25.90.

Analyst Upgrades and Downgrades

RDW has been the topic of several research reports. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Canaccord Genuity Group raised their price target on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Truist Financial upgraded Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group restated a “buy” rating and set a $13.00 price target on shares of Redwire in a research note on Sunday, May 10th. One 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.22.

Redwire Price Performance

The firm has a 50 day simple moving average of $11.43 and a 200-day simple moving average of $9.52. 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 company has a market cap of $4.50 billion, a PE ratio of -8.60 and a beta of 2.41.

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 the consensus estimate of ($0.16) by ($0.24). Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The company had revenue of $96.97 million during the quarter, compared to analysts’ expectations of $105.94 million. During the same quarter last year, the firm earned ($0.09) EPS. Redwire’s revenue for the quarter was up 57.9% on a year-over-year basis. As a group, research analysts predict that Redwire Corporation will post -0.7 earnings per share for the current fiscal year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 7,500,000 shares of Redwire stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $9.15, for a total value of $68,625,000.00. Following the transaction, the director owned 36,135,217 shares in the company, valued at $330,637,235.55. The trade was a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 23,327,795 shares of company stock valued at $228,806,188 in the last 90 days. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Redwire

Several institutional investors have recently added to or reduced their stakes in the business. AE Industrial Partners LP boosted its holdings in Redwire by 7.1% in the third quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock worth $823,472,000 after acquiring an additional 6,101,959 shares in the last quarter. Bank of America Corp DE boosted its holdings in Redwire by 7,512.5% in the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock worth $57,970,000 after acquiring an additional 6,730,414 shares in the last quarter. State Street Corp boosted its holdings in Redwire by 61.1% in the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after acquiring an additional 1,786,038 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Redwire by 2.9% in the third quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock worth $29,153,000 after acquiring an additional 91,045 shares in the last quarter. Finally, UBS Group AG boosted its holdings in Redwire by 140.8% in the fourth quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock worth $15,503,000 after acquiring an additional 1,192,885 shares in the last quarter. 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.