Insider Selling: Redwire Co. (NYSE:RDW) Director Sells 56,516 Shares of Stock

Redwire Co. (NYSE:RDW) Director Ae Red Holdings, Llc sold 56,516 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $7.64, for a total value of $431,782.24. Following the sale, the director now owns 36,018,155 shares of the company’s stock, valued at $275,178,704.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ae Red Holdings, Llc also recently made the following trade(s):

• On Wednesday, July 17th, Ae Red Holdings, Llc sold 62,754 shares of Redwire stock. The stock was sold at an average price of $7.70, for a total value of $483,205.80.
• On Monday, July 15th, Ae Red Holdings, Llc sold 94,579 shares of Redwire stock. The stock was sold at an average price of $7.88, for a total value of $745,282.52.

Redwire Stock Performance

Shares of RDW stock opened at $7.04 on Friday. Redwire Co. has a 1 year low of $2.35 and a 1 year high of $8.23. The stock has a market cap of $461.68 million, a PE ratio of -9.78 and a beta of 1.97. The business’s fifty day moving average is $5.96 and its 200-day moving average is $4.30.

Redwire (NYSE:RDW) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The firm had revenue of $87.79 million during the quarter, compared to the consensus estimate of $65.88 million. Equities research analysts predict that Redwire Co. will post -0.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RDW shares. Longbow Research upped their price target on Redwire from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Roth Mkm increased their target price on Redwire from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $6.00 target price on shares of Redwire in a research report on Monday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Redwire has a consensus rating of “Buy” and an average target price of $6.75.

Hedge Funds Weigh In On Redwire

Several hedge funds have recently modified their holdings of RDW. LA Financiere DE L Echiquier boosted its stake in shares of Redwire by 10.6% during the 4th quarter. LA Financiere DE L Echiquier now owns 450,000 shares of the company’s stock worth $1,282,000 after acquiring an additional 43,000 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Redwire during the 1st quarter worth $59,000. Vanguard Group Inc. boosted its stake in shares of Redwire by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after acquiring an additional 3,681 shares in the last quarter. Finally, DNB Asset Management AS boosted its stake in shares of Redwire by 23.9% during the 2nd quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock worth $280,000 after acquiring an additional 7,538 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

About Redwire

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.