Redwire (NYSE:RDW) Stock Price Down 12.4% – Here’s What Happened

Redwire Corporation (NYSE:RDW) fell 12.4% during trading on Thursday . The stock traded as low as $8.65 and last traded at $8.7850. 26,769,782 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 34,465,848 shares. The stock had previously closed at $10.03.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RDW shares. HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of Redwire in a research report on Tuesday, December 23rd. Bank of America reduced their price target on Redwire from $9.00 to $6.00 and set an “underperform” rating for the company in a report on Wednesday, November 19th. Industrial Alliance Securities set a $9.00 price target on Redwire in a research report on Thursday, November 6th. KeyCorp started coverage on Redwire in a research report on Thursday, December 18th. They issued a “sector weight” rating for the company. Finally, Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.75.

Redwire Stock Down 12.4%

The company has a current ratio of 1.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -2.77 and a beta of 2.45. The firm’s 50 day simple moving average is $8.95 and its two-hundred day simple moving average is $9.08.

Redwire (NYSE:RDW) last announced its earnings results on Wednesday, November 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.15). Redwire had a negative return on equity of 16.24% and a negative net margin of 70.32%.The business had revenue of $103.43 million for the quarter, compared to analyst estimates of $132.05 million. On average, equities analysts forecast that Redwire Corporation will post -0.85 EPS for the current year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 1,312,126 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $11.12, for a total transaction of $14,590,841.12. Following the transaction, the director owned 49,898,395 shares in the company, valued at $554,870,152.40. This trade represents a 2.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders purchased 56,065 shares of company stock worth $330,047 and sold 35,595,951 shares worth $400,968,995. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Redwire

A number of institutional investors have recently modified their holdings of the stock. CWM LLC increased its position in shares of Redwire by 1,725.0% in the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after purchasing an additional 3,864 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in Redwire during the third quarter worth about $41,000. Russell Investments Group Ltd. increased its holdings in Redwire by 308.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock valued at $44,000 after buying an additional 3,672 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Redwire in the 2nd quarter valued at approximately $54,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Redwire by 440.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock valued at $60,000 after buying an additional 5,395 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors.

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.