Redwire (NYSE:RDW) Trading Down 2.7% – Should You Sell?

Shares of Redwire Corporation (NYSE:RDW) fell 2.7% during mid-day trading on Tuesday . The stock traded as low as $8.02 and last traded at $8.5950. Approximately 11,975,247 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 30,035,787 shares. The stock had previously closed at $8.83.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Canaccord Genuity Group boosted their price objective on Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Truist Financial raised Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Wall Street Zen downgraded Redwire from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. Finally, Jefferies Financial Group upgraded Redwire to a “hold” rating in a report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Redwire has a consensus rating of “Moderate Buy” and an average price target of $15.44.

Redwire Price Performance

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 stock’s 50 day simple moving average is $13.68 and its two-hundred day simple moving average is $11.35. The firm has a market capitalization of $2.02 billion, a PE ratio of -3.16 and a beta of 3.01.

Redwire (NYSE:RDW) last issued its earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. The company’s revenue for the quarter was up 57.9% on a year-over-year basis. On average, sell-side analysts forecast that Redwire Corporation will post -0.81 EPS for the current year.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total value of $22,995,736.20. Following the completion of the sale, the director directly owned 1,077,419 shares in the company, valued at $23,142,960.12. This represents a 49.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RDW. Parallel Advisors LLC purchased a new stake in shares of Redwire in the first quarter valued at about $28,000. KBC Group NV purchased a new position in Redwire during the first quarter worth about $29,000. Sunbelt Securities Inc. raised its stake in Redwire by 601.1% during 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. Rockefeller Capital Management L.P. raised 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 worth $31,000 after purchasing an additional 3,668 shares during the period. Finally, CWM LLC boosted its holdings in Redwire by 1,725.0% in the 4th 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. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.