Redwire (NYSE:RDW) Stock Falls 1.8% – Time to Sell?

Redwire Corporation (NYSE:RDW)’s share price fell 1.8% during trading on Friday. The stock traded as low as $9.40 and last traded at $9.5810. Approximately 9,093,903 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 25,922,354 shares. The stock had previously closed at $9.76.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RDW shares. Bank of America boosted their price objective on shares of Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a research report on Monday, August 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research report on Friday, July 17th. Canaccord Genuity Group lifted their price target on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Wall Street Zen raised shares of Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a research note on Sunday, August 9th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.69.

Redwire Price Performance

The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -6.56 and a beta of 3.12. The company has a fifty day moving average price of $11.28 and a two-hundred day moving average price of $11.81. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03.

Redwire (NYSE:RDW) last announced its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. The business had revenue of $117.07 million for the quarter, compared to analyst estimates of $107.10 million. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. On average, equities research analysts expect that Redwire Corporation will post -0.7 EPS for the current fiscal year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 929,435 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $11.34, for a total transaction of $10,539,792.90. Following the transaction, the director directly owned 147,984 shares of the company’s stock, valued at approximately $1,678,138.56. This trade represents a 86.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Deutsche Bank AG acquired a new stake in shares of Redwire during the second quarter worth $2,529,000. Tidal Investments LLC acquired a new position in Redwire in the 2nd quarter valued at $7,717,000. Van ECK Associates Corp raised its position in Redwire by 173.0% during the 2nd quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company’s stock worth $83,791,000 after buying an additional 4,341,424 shares during the last quarter. Bank of America Corp DE purchased a new position in Redwire during the 2nd quarter worth $13,124,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Redwire in the 2nd quarter worth $6,770,000. 8.10% of the stock is owned by hedge funds and other institutional investors.

Redwire Company Profile

Redwire Corporation is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its work supports space exploration, national security, civil space programs and the growing commercial space economy.

The company’s offerings include spacecraft platforms, avionics, sensors, deployable structures, solar arrays, in-space manufacturing systems, robotic technologies and components designed for satellite and space station applications.