Redwire (NYSE:RDW) Trading Down 5.6% – Time to Sell?

Redwire Corporation (NYSE:RDW)’s stock price dropped 5.6% on Wednesday . The stock traded as low as $14.81 and last traded at $14.8640. Approximately 30,382,472 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 31,384,248 shares. The stock had previously closed at $15.75.

Analyst Upgrades and Downgrades

RDW has been the topic of several analyst reports. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Canaccord Genuity Group increased their target price on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Jefferies Financial Group lowered Redwire from a “buy” rating to a “hold” rating and increased their target price for the company from $13.00 to $24.00 in a research note on Monday, June 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. Finally, Alliance Global Partners restated a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. One investment 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.44.

Redwire Stock Down 5.6%

The firm has a fifty day simple moving average of $13.14 and a 200-day simple moving average of $10.31. The company has a market capitalization of $2.85 billion, a P/E ratio of -5.55 and a beta of 2.92. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08.

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

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $9.15, for a total transaction of $68,625,000.00. Following the completion of the transaction, the director directly owned 36,135,217 shares in the company, valued at approximately $330,637,235.55. This trade represents a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 23,327,795 shares of company stock worth $228,806,188 in the last ninety days. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in shares of 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 in the last quarter. Parvin Asset Management LLC grew its holdings in shares of Redwire by 6.9% during the first quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock worth $152,000 after buying an additional 1,150 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of 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 in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of 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 in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of 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 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.