Redwire (NYSE:RDW) Stock Price Down 15% – What’s Next?

Redwire Corporation (NYSE:RDW) shares traded down 15% during trading on Tuesday . The company traded as low as $14.76 and last traded at $15.7850. 68,310,925 shares changed hands during trading, an increase of 118% from the average session volume of 31,378,215 shares. The stock had previously closed at $18.57.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RDW. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Jefferies Financial Group cut shares of Redwire from a “buy” rating to a “hold” rating and lifted their target price for the company from $13.00 to $24.00 in a research note on Monday, June 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Redwire presently has a consensus rating of “Moderate Buy” and an average target price of $15.44.

Redwire Stock Down 15.0%

The firm’s 50-day simple moving average is $12.99 and its 200 day simple moving average is $10.24. The company has a market cap of $3.03 billion, a P/E ratio of -5.89 and a beta of 2.91. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75.

Redwire (NYSE:RDW) last issued its earnings results on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.24). Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business had revenue of $96.97 million for the quarter, compared to the consensus estimate of $105.94 million. During the same quarter in the previous year, the firm posted ($0.09) EPS. The business’s revenue was up 57.9% on a year-over-year basis. On average, research analysts forecast that Redwire Corporation will post -0.76 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the business’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $9.15, for a total value of $68,625,000.00. Following the completion of the transaction, the director owned 36,135,217 shares of the company’s stock, valued at $330,637,235.55. The trade was a 17.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 23,327,795 shares of company stock valued at $228,806,188. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Redwire

Several institutional investors and hedge funds have recently made changes to their positions in the company. AE Industrial Partners LP grew its holdings in shares of Redwire by 7.1% in the 3rd quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after buying an additional 6,101,959 shares during the period. Bank of America Corp DE grew its holdings in shares of Redwire by 7,512.5% in the 1st quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after buying an additional 6,730,414 shares during the period. State Street Corp grew its holdings in shares of Redwire by 61.1% in the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after buying an additional 1,786,038 shares during the period. Vanguard Group Inc. grew its holdings in shares of Redwire by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock valued at $29,153,000 after buying an additional 91,045 shares during the period. Finally, UBS Group AG grew its holdings in shares of Redwire by 140.8% in the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after buying an additional 1,192,885 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.