Redwire (NYSE:RDW) Trading Down 2.8% – What’s Next?

Redwire Corporation (NYSE:RDW) traded down 2.8% during mid-day trading on Friday . The company traded as low as $10.02 and last traded at $10.1810. Approximately 10,700,722 shares were traded during mid-day trading, a decline of 66% from the average session volume of 31,403,488 shares. The stock had previously closed at $10.47.

Wall Street Analyst Weigh In

A number of research analysts have commented on RDW shares. Canaccord Genuity Group upped their price target on Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Truist Financial raised Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Wall Street Zen downgraded Redwire from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Finally, Jefferies Financial Group upgraded Redwire to a “hold” rating in a report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Redwire has a consensus rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Stock Performance

The firm’s 50 day moving average is $14.41 and its two-hundred day moving average is $11.30. The stock has a market capitalization of $2.43 billion, a PE ratio of -3.80 and a beta of 3.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75.

Redwire (NYSE:RDW) last released its earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The business had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. During the same quarter last year, the company earned ($0.09) earnings per share. Redwire’s quarterly revenue was up 57.9% compared to the same quarter last year. As a group, research analysts predict that Redwire Corporation will post -0.81 earnings per share for the current year.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total value of $22,995,736.20. Following the sale, the director directly owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 11,680,271 shares of company stock worth $132,937,861 over the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Redwire

Large investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its position in Redwire by 4.4% in the 4th quarter. Farther Finance Advisors LLC now owns 20,897 shares of the company’s stock valued at $159,000 after purchasing an additional 877 shares in the last quarter. Parvin Asset Management LLC boosted its stake in shares of Redwire by 6.9% in the 1st quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock valued at $152,000 after buying an additional 1,150 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Redwire by 32.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after buying an additional 1,533 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Redwire by 12.0% during the second quarter. BNP Paribas Financial Markets now owns 30,396 shares of the company’s stock worth $495,000 after buying an additional 3,248 shares in the last quarter. Finally, Parallel Advisors LLC purchased a new stake in shares of Redwire during the first quarter worth approximately $28,000. 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.