Redwire (NYSE:RDW) Trading Down 3.9% on Insider Selling

Redwire Corporation (NYSE:RDW) shares were down 3.9% on Wednesday following insider selling activity. The company traded as low as $8.59 and last traded at $9.0150. Approximately 20,660,387 shares changed hands during trading, a decline of 37% from the average daily volume of 32,709,488 shares. The stock had previously closed at $9.38.

Specifically, Director Ae Red Holdings, Llc sold 49,985 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $10.01, for a total transaction of $500,349.85. Following the completion of the sale, the director directly owned 45,094,000 shares of the company’s stock, valued at $451,390,940. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ae Red Holdings, Llc sold 1,385,507 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $10.10, for a total value of $13,993,620.70. Following the sale, the director directly owned 45,143,985 shares of the company’s stock, valued at $455,954,248.50. This represents a 2.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other Redwire news, Director Ae Red Holdings, Llc sold 11,761 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $11.18, for a total value of $131,487.98. Following the transaction, the director owned 46,529,492 shares of the company’s stock, valued at approximately $520,199,720.56. This represents a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

RDW has been the subject of several research analyst reports. iA Financial set a $9.00 price target on shares of Redwire in a report on Thursday, November 6th. HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of Redwire in a report on Tuesday, December 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a report on Thursday, January 22nd. Truist Financial set a $13.00 price objective on shares of Redwire in a report on Friday, January 9th. Finally, Canaccord Genuity Group lowered their target price on Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.75.

Redwire Stock Performance

The stock has a market capitalization of $1.49 billion, a P/E ratio of -2.84 and a beta of 2.45. The company has a 50-day moving average price of $9.29 and a two-hundred day moving average price of $8.83. The company has a current ratio of 1.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20.

Institutional Trading of Redwire

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AE Industrial Partners LP boosted its stake in Redwire by 139.3% in the second quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock valued at $1,394,000 after acquiring an additional 49,765,262 shares during the last quarter. Voya Investment Management LLC bought a new stake in Redwire during the 3rd quarter worth approximately $20,372,000. Hood River Capital Management LLC purchased a new stake in shares of Redwire in the second quarter worth $36,206,000. Cooper Creek Partners Management LLC bought a new stake in shares of Redwire during the 2nd quarter valued at about $32,652,000. Finally, UBS Group AG lifted its position in Redwire by 140.8% during the fourth quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after purchasing an additional 1,192,885 shares during the last quarter. 8.10% of the stock is owned by institutional investors.

About Redwire

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.