Redwire (NYSE:RDW) Stock Price Down 15% – What’s Next?

Shares of Redwire Corporation (NYSE:RDW) dropped 15% during trading on Tuesday . The company traded as low as $14.76 and last traded at $15.7850. Approximately 68,310,925 shares changed hands during mid-day trading, an increase of 118% from the average daily volume of 31,378,215 shares. The stock had previously closed at $18.57.

Analyst Ratings Changes

RDW has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. Truist Financial raised Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Canaccord Genuity Group raised their price objective on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Finally, Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.44.

Redwire Trading Down 15.0%

The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -5.89 and a beta of 2.91. The company has a 50-day moving average price of $12.99 and a 200-day moving average price of $10.24. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08.

Redwire (NYSE:RDW) last released its earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. During the same period last year, the business earned ($0.09) earnings per share. The firm’s quarterly revenue was up 57.9% compared to the same quarter last year. Research analysts predict that Redwire Corporation will post -0.76 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ae Red Holdings, Llc sold 977,887 shares of Redwire stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $10.57, for a total transaction of $10,336,265.59. Following the sale, the director directly owned 21,494,349 shares of the company’s stock, valued at $227,195,268.93. This trade represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 23,327,795 shares of company stock worth $228,806,188 over the last 90 days. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Redwire

Institutional investors have recently added to or reduced their stakes in the company. Andar Capital Management HK Ltd lifted its stake in Redwire by 76.5% during the third quarter. Andar Capital Management HK Ltd now owns 300,000 shares of the company’s stock worth $2,697,000 after purchasing an additional 130,000 shares during the period. JPMorgan Chase & Co. lifted its stake in Redwire by 2,556.0% during the third quarter. JPMorgan Chase & Co. now owns 577,271 shares of the company’s stock worth $5,190,000 after purchasing an additional 555,536 shares during the period. Capelight Capital Asset Management LP bought a new position in Redwire during the fourth quarter worth about $1,330,000. AE Industrial Partners LP lifted its stake in Redwire by 7.1% during the third quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock worth $823,472,000 after purchasing an additional 6,101,959 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Redwire during the fourth quarter worth about $7,676,000. 8.10% of the stock is owned by institutional investors and hedge funds.

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.