Insider Selling: Redwire Co. (NYSE:RDW) Director Sells $745,282.52 in Stock

Redwire Co. (NYSE:RDW) Director Ae Red Holdings, Llc sold 94,579 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $7.88, for a total value of $745,282.52. Following the transaction, the director now owns 35,923,576 shares in the company, valued at $283,077,778.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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 Friday, July 12th, Ae Red Holdings, Llc sold 56,516 shares of Redwire stock. The shares were sold at an average price of $7.64, for a total value of $431,782.24.

Redwire Stock Down 8.6 %

Shares of Redwire stock opened at $7.04 on Friday. The company has a market cap of $461.68 million, a P/E ratio of -9.78 and a beta of 1.97. The firm’s 50 day moving average price is $5.96 and its 200-day moving average price is $4.30. Redwire Co. has a 52-week low of $2.35 and a 52-week high of $8.23.

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 analysts’ consensus estimates of ($0.14) by ($0.03). The firm had revenue of $87.79 million during the quarter, compared to analyst estimates of $65.88 million. As a group, equities research analysts forecast that Redwire Co. will post -0.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on RDW. Longbow Research raised their target price on shares of Redwire from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Roth Mkm boosted their price objective on shares of Redwire from $5.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $6.00 target price on shares of Redwire in a report on Monday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Redwire currently has an average rating of “Buy” and an average price target of $6.75.

Institutional Investors Weigh In On Redwire

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in shares of Redwire during the first quarter worth about $59,000. DNB Asset Management AS boosted its stake in Redwire by 23.9% in the 2nd quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock worth $280,000 after purchasing an additional 7,538 shares in the last quarter. LA Financiere DE L Echiquier grew its position in 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 purchasing an additional 43,000 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Redwire by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock valued at $4,912,000 after purchasing an additional 3,681 shares in the last quarter. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.