Redwire (NYSE:RDW) Shares Down 5.6% – Here’s What Happened

Redwire Corporation (NYSE:RDW)’s share price fell 5.6% during trading on Friday . The company traded as low as $21.67 and last traded at $24.4490. 64,175,830 shares traded hands during mid-day trading, an increase of 114% from the average session volume of 29,945,961 shares. The stock had previously closed at $25.90.

Wall Street Analyst Weigh In

RDW has been the topic of a number of analyst reports. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Canaccord Genuity Group boosted their target price on shares of Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $13.00 target price on shares of Redwire in a research note on Sunday, May 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.22.

Redwire Stock Down 5.6%

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75. The firm has a market cap of $4.69 billion, a PE ratio of -9.12 and a beta of 2.41. The stock has a fifty day moving average price of $11.43 and a 200-day moving average price of $9.52.

Redwire (NYSE:RDW) last issued its earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The firm had revenue of $96.97 million for the quarter, compared to analysts’ expectations of $105.94 million. During the same quarter in the previous year, the firm posted ($0.09) EPS. The firm’s revenue for the quarter was up 57.9% compared to the same quarter last year. Research analysts expect that Redwire Corporation will post -0.7 EPS for the current year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 977,887 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $10.57, for a total value of $10,336,265.59. Following the completion of the sale, the director owned 21,494,349 shares of the company’s stock, valued at $227,195,268.93. This trade represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 23,327,795 shares of company stock valued at $228,806,188 over the last three months. 0.79% of the stock is owned by company insiders.

Institutional Trading of Redwire

Several large investors have recently bought and sold shares of the company. AE Industrial Partners LP grew its position in Redwire by 7.1% in the third quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after acquiring an additional 6,101,959 shares in the last quarter. Bank of America Corp DE grew its position in Redwire by 7,512.5% in the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after acquiring an additional 6,730,414 shares in the last quarter. State Street Corp grew its position in Redwire by 61.1% in the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after acquiring an additional 1,786,038 shares in the last quarter. Vanguard Group Inc. grew its position in Redwire by 2.9% in the third quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock valued at $29,153,000 after acquiring an additional 91,045 shares in the last quarter. Finally, UBS Group AG grew its position in Redwire by 140.8% in the fourth quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after acquiring an additional 1,192,885 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Company Profile

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.