Redwire (NYSE:RDW) Shares Down 1.6% – Should You Sell?

Shares of Redwire Corporation (NYSE:RDW) dropped 1.6% on Wednesday . The stock traded as low as $11.22 and last traded at $11.30. Approximately 7,745,761 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 28,400,100 shares. The stock had previously closed at $11.48.

Analysts Set New Price Targets

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

Redwire Trading Down 1.6%

The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -7.74 and a beta of 3.05. The business’s fifty day moving average is $11.08 and its two-hundred day moving average is $11.41.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. The firm 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%. Equities analysts anticipate that Redwire Corporation will post -0.68 earnings per share for the current fiscal year.

Insider Transactions 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 value of $22,995,736.20. Following the transaction, the director owned 1,077,419 shares in the company, valued at $23,142,960.12. This trade represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Redwire in the 2nd quarter valued at about $196,514,000. Van ECK Associates Corp raised its stake in shares of Redwire by 173.0% during the second 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 raised its stake in shares of Redwire by 7,512.5% during the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock worth $57,970,000 after buying an additional 6,730,414 shares during the last quarter. State Street Corp boosted its stake in Redwire by 61.1% in the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after acquiring an additional 1,786,038 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Redwire by 2.9% in the third quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock valued at $29,153,000 after acquiring an additional 91,045 shares during the last quarter. 8.10% of the stock is currently 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.