Redwire (NYSE:RDW) Shares Down 8.5% – Time to Sell?

Shares of Redwire Co. (NYSE:RDW) were down 8.5% on Tuesday . The stock traded as low as $18.94 and last traded at $18.26. Approximately 1,125,403 shares changed hands during trading, a decline of 6% from the average daily volume of 1,192,558 shares. The stock had previously closed at $19.96.

Analyst Upgrades and Downgrades

RDW has been the subject of a number of recent research reports. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research report on Monday, May 12th. B. Riley lowered their price objective on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Wall Street Zen raised shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 22nd. HC Wainwright reissued a “buy” rating and set a $26.00 target price on shares of Redwire in a research report on Wednesday, March 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $28.00 price target on shares of Redwire in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.05.

Redwire Stock Down 9.6%

The firm has a market capitalization of $1.39 billion, a PE ratio of -14.89 and a beta of 2.53. The company’s fifty day simple moving average is $11.74 and its 200 day simple moving average is $14.28.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20). The firm had revenue of $61.40 million for the quarter, compared to analysts’ expectations of $74.54 million. Equities research analysts forecast that Redwire Co. will post -0.85 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Federated Hermes Inc. lifted its position in Redwire by 165.7% during the fourth quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock valued at $8,202,000 after purchasing an additional 310,769 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Redwire in the 4th quarter worth approximately $4,830,000. EAM Global Investors LLC acquired a new stake in shares of Redwire during the 4th quarter worth approximately $4,689,000. Goldman Sachs Group Inc. boosted its holdings in Redwire by 352.8% during the first quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after buying an additional 276,814 shares in the last quarter. Finally, Andar Capital Management HK Ltd purchased a new stake in Redwire during the fourth quarter worth $3,621,000. 8.10% of the stock is currently owned by institutional investors.

Redwire Company Profile

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.