Redwire (NYSE:RDW) Stock Price Down 6% – What’s Next?

Redwire Corporation (NYSE:RDW)’s stock price fell 6% during trading on Monday . The stock traded as low as $9.40 and last traded at $9.5740. Approximately 17,243,478 shares changed hands during trading, a decline of 45% from the average daily volume of 31,280,246 shares. The stock had previously closed at $10.18.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RDW shares. Wall Street Zen cut Redwire from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Canaccord Genuity Group boosted their target price on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. Finally, Jefferies Financial Group raised shares of 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 given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.44.

Redwire Stock Performance

The firm has a market cap of $2.33 billion, a price-to-earnings ratio of -3.64 and a beta of 3.01. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average of $14.47 and a 200 day moving average of $11.34.

Redwire (NYSE:RDW) last issued its quarterly earnings data 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 net margin of 80.90% and a negative return on equity of 11.68%. The business had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. During the same quarter last year, the business earned ($0.09) EPS. Redwire’s revenue for the quarter was up 57.9% compared to the same quarter last year. As a group, equities research analysts expect that Redwire Corporation will post -0.81 EPS for the current fiscal year.

Insider Buying and Selling at Redwire

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction on Thursday, June 11th. The shares were 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 owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. The trade was a 49.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 8,994,567 shares of company stock worth $106,558,778 over the last three months. 0.79% of the stock is currently owned by company insiders.

Institutional Trading of Redwire

Several institutional investors have recently added to or reduced their stakes in RDW. Tema ETFs LLC boosted its stake in Redwire by 51,491.5% during the 2nd quarter. Tema ETFs LLC now owns 621,162 shares of the company’s stock valued at $7,597,000 after acquiring an additional 619,958 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Redwire by 82.7% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 63,067 shares of the company’s stock valued at $771,000 after purchasing an additional 28,540 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Redwire in the 2nd quarter valued at about $1,730,000. Militia Capital Management LLC bought a new position in shares of Redwire during the first quarter worth about $281,000. Finally, Parallel Advisors LLC bought a new position in shares of Redwire during the first quarter worth about $28,000. 8.10% of the stock is owned by institutional investors and hedge funds.

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.