Redwire (NYSE:RDW) Hits New 1-Year Low Following Analyst Downgrade

Redwire Corporation (NYSE:RDW) reached a new 52-week low during trading on Thursday after Cantor Fitzgerald lowered their price target on the stock from $28.00 to $20.00. Cantor Fitzgerald currently has an overweight rating on the stock. Redwire traded as low as $6.05 and last traded at $5.9870, with a volume of 2194692 shares traded. The stock had previously closed at $7.30.

A number of other research firms have also issued reports on RDW. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $22.00 price target (down previously from $26.00) on shares of Redwire in a report on Friday, August 8th. Bank of America cut their price target on shares of Redwire from $10.00 to $9.00 and set an “underperform” rating on the stock in a report on Friday, October 10th. Truist Financial cut their price target on shares of Redwire from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, October 15th. Finally, B. Riley cut their price target on shares of Redwire from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.07.

Insider Buying and Selling

In other Redwire news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $7.83, for a total value of $86,130,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Redwire

Several large investors have recently modified their holdings of the company. AE Industrial Partners LP boosted its holdings in shares of Redwire by 139.3% during the 2nd quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock worth $1,394,000 after buying an additional 49,765,262 shares during the period. Voya Investment Management LLC bought a new stake in shares of Redwire during the 3rd quarter worth $20,372,000. Hood River Capital Management LLC bought a new stake in shares of Redwire during the 2nd quarter worth $36,206,000. Cooper Creek Partners Management LLC bought a new stake in shares of Redwire during the 2nd quarter worth $32,652,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Redwire by 77.1% during the 2nd quarter. Geode Capital Management LLC now owns 935,297 shares of the company’s stock worth $15,248,000 after buying an additional 407,131 shares during the period. 8.10% of the stock is owned by institutional investors.

Redwire Trading Down 18.5%

The company has a current ratio of 1.46, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average is $8.65 and its 200-day moving average is $12.03. The firm has a market capitalization of $857.47 million, a P/E ratio of -1.84 and a beta of 2.45.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.28). The firm had revenue of $61.76 million for the quarter, compared to the consensus estimate of $80.48 million. Redwire had a negative return on equity of 32.67% and a negative net margin of 71.95%. As a group, sell-side analysts anticipate that Redwire Corporation will post -0.85 earnings per share for the current fiscal year.

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.