Redwire (NYSE:RDW) Trading Down 3.8% – Here’s Why

Redwire Corporation (NYSE:RDW)’s share price traded down 3.8% on Tuesday . The company traded as low as $12.30 and last traded at $12.8950. Approximately 14,506,461 shares were traded during mid-day trading, a decline of 50% from the average session volume of 29,027,289 shares. The stock had previously closed at $13.41.

Analyst Ratings Changes

Several brokerages have commented on RDW. Cantor Fitzgerald upped their price target on Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Jefferies Financial Group set a $15.00 target price on Redwire in a report on Sunday, August 9th. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Canaccord Genuity Group raised their price target on shares of Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $14.44.

Redwire Trading Down 3.8%

The stock has a market capitalization of $3.22 billion, a PE ratio of -8.83 and a beta of 3.05. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average is $11.46 and its two-hundred day moving average is $11.39.

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

Insider Activity at Redwire

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the sale, the director directly owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

Several large investors have recently bought and sold shares of RDW. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Redwire during the 4th quarter valued at $7,676,000. Trivest Advisors Ltd acquired a new position in Redwire in the 1st quarter worth $5,398,000. Sei Investments Co. boosted its position in Redwire by 173.2% in the 1st quarter. Sei Investments Co. now owns 117,834 shares of the company’s stock valued at $1,002,000 after buying an additional 74,700 shares during the last quarter. Alberta Investment Management Corp purchased a new position in Redwire in the 2nd quarter valued at about $2,528,000. Finally, Empowered Funds LLC acquired a new stake in shares of Redwire during the first quarter valued at about $2,094,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.