Redwire (NYSE:RDW) Shares Gap Down – What’s Next?

Redwire Corporation (NYSE:RDW) gapped down prior to trading on Wednesday . The stock had previously closed at $12.94, but opened at $12.57. Redwire shares last traded at $12.5140, with a volume of 4,246,758 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RDW. Canaccord Genuity Group raised their price objective on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a report on Thursday, August 6th. Jefferies Financial Group set a $15.00 target price on Redwire in a research report on Sunday, August 9th. Truist Financial raised Redwire to a “strong-buy” rating in a report on Friday, May 1st. Finally, Cantor Fitzgerald lifted their price target on Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.44.

Redwire Stock Down 5.2%

The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48. The company has a fifty day moving average price of $11.25 and a 200 day moving average price of $11.39. The company has a market cap of $2.94 billion, a PE ratio of -8.05 and a beta of 3.05.

Redwire (NYSE:RDW) last announced its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. The business had revenue of $117.07 million for the quarter, compared to the consensus estimate of $107.10 million. As a group, analysts anticipate that Redwire Corporation will post -0.68 EPS for the current year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the transaction, the director directly owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in Redwire by 4.4% during the 4th quarter. Farther Finance Advisors LLC now owns 20,897 shares of the company’s stock valued at $159,000 after buying an additional 877 shares during the period. Parvin Asset Management LLC raised its stake in shares of Redwire by 6.9% during the first quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock valued at $152,000 after acquiring an additional 1,150 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Redwire by 32.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock valued at $102,000 after acquiring an additional 1,533 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Redwire by 12.0% during the second quarter. BNP Paribas Financial Markets now owns 30,396 shares of the company’s stock worth $495,000 after purchasing an additional 3,248 shares during the period. Finally, Parallel Advisors LLC purchased a new stake in shares of Redwire during the first quarter worth about $28,000. Hedge funds and other institutional investors 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.