Redwire (NYSE:RDW) Shares Down 7% – Here’s What Happened

Redwire Corporation (NYSE:RDW)’s share price dropped 7% on Tuesday . The company traded as low as $9.01 and last traded at $9.2150. Approximately 4,892,390 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 23,831,469 shares. The stock had previously closed at $9.91.

Wall Street Analysts Forecast Growth

RDW has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. KeyCorp initiated coverage on shares of Redwire in a research report on Thursday, December 18th. They issued a “sector weight” rating on the stock. Jefferies Financial Group cut their target price on shares of Redwire from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. HC Wainwright restated a “buy” rating and issued a $22.00 target price on shares of Redwire in a research report on Tuesday, December 23rd. Finally, Cantor Fitzgerald cut their target price on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.89.

Redwire Trading Down 0.3%

The company has a market cap of $1.90 billion, a price-to-earnings ratio of -4.17 and a beta of 2.49. The business’s fifty day moving average price is $9.44 and its 200 day moving average price is $8.56. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 1.27.

Redwire (NYSE:RDW) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.19). The business had revenue of $108.79 million for the quarter, compared to analyst estimates of $98.78 million. Redwire had a negative return on equity of 13.04% and a negative net margin of 67.55%. Research analysts anticipate that Redwire Corporation will post -0.85 earnings per share for the current fiscal year.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 12,656,683 shares of Redwire stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $10.51, for a total transaction of $133,021,738.33. Following the transaction, the director owned 61,541,253 shares in the company, valued at approximately $646,798,569.03. The trade was a 17.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 49,725,210 shares of company stock worth $537,913,080 in the last quarter. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Redwire

A number of hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in Redwire by 4.4% during the fourth quarter. Farther Finance Advisors LLC now owns 20,897 shares of the company’s stock worth $159,000 after buying an additional 877 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Redwire by 32.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after buying an additional 1,533 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Redwire by 24.0% during the third quarter. Jones Financial Companies Lllp now owns 12,617 shares of the company’s stock worth $111,000 after buying an additional 2,442 shares during the last quarter. Huntleigh Advisors Inc. raised its stake in Redwire by 4.2% during the third quarter. Huntleigh Advisors Inc. now owns 61,837 shares of the company’s stock worth $556,000 after buying an additional 2,488 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Redwire by 12.0% during the second quarter. BNP Paribas Financial Markets now owns 30,396 shares of the company’s stock worth $495,000 after buying an additional 3,248 shares during the last quarter. Institutional investors 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.