Redwire (NYSE:RDW) Stock Price Down 1.7% – Should You Sell?

Shares of Redwire Corporation (NYSE:RDW) dropped 1.7% during trading on Monday . The stock traded as low as $10.53 and last traded at $10.69. 10,809,980 shares were traded during trading, a decline of 61% from the average session volume of 28,059,027 shares. The stock had previously closed at $10.87.

Analyst Ratings Changes

Several analysts recently issued reports on RDW shares. Bank of America upped their price objective on shares of Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a report on Monday. Cantor Fitzgerald raised their price target on shares of Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Jefferies Financial Group set a $15.00 target price on Redwire in a research report on Sunday, August 9th. Canaccord Genuity Group lifted their price objective on Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Wall Street Zen raised shares of Redwire from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. One research 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.69.

Redwire Stock Down 4.1%

The company has a market cap of $2.56 billion, a P/E ratio of -7.03 and a beta of 3.08. 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 business’s 50 day moving average price is $10.80 and its 200-day moving average price is $11.46.

Redwire (NYSE:RDW) last released its quarterly 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 return on equity of 11.02% and a negative net margin of 57.26%.The firm had revenue of $117.07 million during the quarter, compared to analysts’ expectations of $107.10 million. On average, analysts anticipate that Redwire Corporation will post -0.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire 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 of the company’s stock, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDW. Parvin Asset Management LLC grew its position in shares of Redwire by 6.9% during the 1st quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock worth $152,000 after buying an additional 1,150 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Redwire by 32.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock valued at $102,000 after buying an additional 1,533 shares during the period. BNP Paribas Financial Markets raised its position in shares of Redwire by 12.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 30,396 shares of the company’s stock valued at $495,000 after acquiring an additional 3,248 shares during the last quarter. Parallel Advisors LLC bought a new position in shares of Redwire in the 1st quarter worth $28,000. Finally, KBC Group NV bought a new stake in Redwire in the first quarter valued at about $29,000. 8.10% of the stock is 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.