Redwire (NYSE:RDW) Trading Down 6.3% – Should You Sell?

Shares of Redwire Corporation (NYSE:RDW) were down 6.3% during trading on Tuesday . The company traded as low as $12.20 and last traded at $12.20. Approximately 26,706,038 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 32,341,180 shares. The stock had previously closed at $13.02.

Analyst Ratings Changes

A number of equities analysts have weighed in on RDW shares. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Jefferies Financial Group upgraded Redwire to a “hold” rating in a research note on Wednesday, June 10th. Wall Street Zen raised Redwire from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.44.

Redwire Stock Performance

The company’s fifty day simple moving average is $14.11 and its two-hundred day simple moving average is $10.90. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of -4.55 and a beta of 2.91. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75.

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 net margin of 80.90% and a negative return on equity of 11.68%. The company had revenue of $96.97 million during the quarter, compared to analyst estimates of $105.94 million. During the same quarter last year, the company posted ($0.09) EPS. The business’s revenue for the quarter was up 57.9% compared to the same quarter last year. Equities research analysts predict that Redwire Corporation will post -0.76 earnings per share for the current fiscal year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the sale, the director owned 1,077,419 shares in the company, valued at $23,142,960.12. This represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 15,711,433 shares of company stock worth $171,201,208 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

A number of institutional investors have recently made changes to their positions in RDW. Parallel Advisors LLC acquired a new stake in shares of Redwire during the 1st quarter valued at approximately $28,000. KBC Group NV acquired a new position in Redwire in the first quarter worth $29,000. Sunbelt Securities Inc. boosted its holdings in Redwire by 601.1% in the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after purchasing an additional 3,396 shares during the period. CWM LLC increased its stake in Redwire by 1,725.0% during the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after purchasing an additional 3,864 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in Redwire by 1,054.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after purchasing an additional 3,668 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors.

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.