Redwire (NYSE:RDW) Stock Price Down 13.9% – Should You Sell?

Redwire Corporation (NYSE:RDW) shares traded down 13.9% during mid-day trading on Friday . The company traded as low as $17.62 and last traded at $18.4440. 53,501,059 shares changed hands during mid-day trading, an increase of 72% from the average session volume of 31,015,162 shares. The stock had previously closed at $21.43.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RDW shares. Canaccord Genuity Group raised their price objective on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a report on Monday, May 11th. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. Finally, Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $15.44.

Redwire Trading Down 13.9%

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75. The firm has a 50-day moving average of $12.61 and a 200-day moving average of $10.06. The firm has a market capitalization of $3.54 billion, a P/E ratio of -6.88 and a beta of 2.92.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share 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 the consensus estimate of $105.94 million. During the same quarter in the previous year, the firm posted ($0.09) EPS. The business’s revenue for the quarter was up 57.9% compared to the same quarter last year. On average, equities research analysts anticipate that Redwire Corporation will post -0.7 EPS for the current fiscal year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 977,887 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $10.57, for a total value of $10,336,265.59. Following the transaction, the director owned 21,494,349 shares in the company, valued at approximately $227,195,268.93. The trade was a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over 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 company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC bought a new stake in shares of Redwire during the 1st quarter valued at about $28,000. Bank of America Corp DE grew its position in shares of Redwire by 7,512.5% in the 1st quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock worth $57,970,000 after buying an additional 6,730,414 shares during the period. Janus Henderson Group PLC increased its stake in shares of Redwire by 157.5% in the 1st quarter. Janus Henderson Group PLC now owns 54,600 shares of the company’s stock worth $463,000 after acquiring an additional 33,400 shares in the last quarter. Amundi lifted its position in Redwire by 55.4% during the 1st quarter. Amundi now owns 40,197 shares of the company’s stock valued at $342,000 after acquiring an additional 14,337 shares during the period. Finally, Parvin Asset Management LLC lifted its position in Redwire by 6.9% during the 1st quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock valued at $152,000 after acquiring an additional 1,150 shares during the period. Hedge funds and other institutional investors 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.