Redwire (NYSE:RDW) Trading Down 7.1% – What’s Next?

Redwire Corporation (NYSE:RDW)’s stock price dropped 7.1% during trading on Tuesday . The stock traded as low as $9.37 and last traded at $9.37. Approximately 16,795,673 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 33,127,469 shares. The stock had previously closed at $10.09.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RDW. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Truist Financial set a $13.00 price target on shares of Redwire in a research report on Friday, January 9th. KeyCorp started coverage on shares of Redwire in a research note on Thursday, December 18th. They issued a “sector weight” rating for the company. Cantor Fitzgerald reduced their price objective on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Finally, iA Financial set a $9.00 price objective on shares of Redwire in a report on Thursday, November 6th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Redwire has an average rating of “Hold” and an average price target of $13.75.

Redwire Stock Down 7.1%

The stock’s fifty day simple moving average is $9.21 and its two-hundred day simple moving average is $8.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.05. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -2.96 and a beta of 2.44.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 11,761 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $11.18, for a total transaction of $131,487.98. Following the completion of the transaction, the director owned 46,529,492 shares in the company, valued at $520,199,720.56. The trade was a 0.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 38,964,854 shares of company stock valued at $438,633,331. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

A number of large investors have recently modified their holdings of the company. CWM LLC increased its position in Redwire by 1,725.0% in the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after acquiring an additional 3,864 shares during the period. Abich Financial Wealth Management LLC bought a new position in shares of Redwire in the third quarter worth $41,000. Russell Investments Group Ltd. increased its holdings in shares of Redwire by 308.6% during the third quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock valued at $44,000 after purchasing an additional 3,672 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Redwire during the second quarter valued at about $54,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Redwire by 440.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock worth $60,000 after purchasing an additional 5,395 shares during the period. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.