Redwire (NYSE:RDW) Trading Down 2.1% Following Insider Selling

Redwire Corporation (NYSE:RDW)’s share price fell 2.1% during trading on Monday following insider selling activity. The stock traded as low as $14.72 and last traded at $14.7950. 41,612,439 shares were traded during mid-day trading, an increase of 30% from the average session volume of 32,125,160 shares. The stock had previously closed at $15.12.

Specifically, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the completion of the transaction, the director directly owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a report on Friday, May 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. Jefferies Financial Group upgraded Redwire to a “hold” rating in a report on Wednesday, June 10th. Alliance Global Partners restated a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Finally, Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Stock Down 2.1%

The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of -5.52 and a beta of 2.91. The stock has a fifty day moving average of $13.58 and a two-hundred day moving average of $10.53. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). The company had revenue of $96.97 million during the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business’s revenue for the quarter was up 57.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.09) earnings per share. Sell-side analysts anticipate that Redwire Corporation will post -0.76 earnings per share for the current year.

Institutional Trading of Redwire

A number of institutional investors have recently bought and sold shares of the company. AE Industrial Partners LP boosted its position in Redwire by 7.1% during the third quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after acquiring an additional 6,101,959 shares during the last quarter. Bank of America Corp DE boosted its position in Redwire by 7,512.5% during the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after acquiring an additional 6,730,414 shares during the last quarter. State Street Corp boosted its position in Redwire by 61.1% during the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after acquiring an additional 1,786,038 shares during the last quarter. Vanguard Group Inc. boosted its position in Redwire by 2.9% during the third quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock valued at $29,153,000 after acquiring an additional 91,045 shares during the last quarter. Finally, UBS Group AG boosted its position in Redwire by 140.8% during the fourth quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after acquiring an additional 1,192,885 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.