Redwire (NYSE:RDW) Stock Price Down 9.2% – Should You Sell?

Redwire Corporation (NYSE:RDW) shares traded down 9.2% on Monday . The company traded as low as $12.60 and last traded at $13.0290. Approximately 32,634,866 shares changed hands during trading, an increase of 1% from the average daily volume of 32,413,318 shares. The stock had previously closed at $14.35.

Wall Street Analysts Forecast Growth

RDW has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a research report on Saturday. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Jefferies Financial Group upgraded Redwire to a “hold” rating in a research report on Wednesday, June 10th. Finally, Truist Financial raised Redwire to a “strong-buy” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.44.

Redwire Stock Performance

The business’s fifty day moving average is $14.03 and its two-hundred day moving average is $10.85. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $3.11 billion, a PE ratio of -4.86 and a beta of 2.91.

Redwire (NYSE:RDW) last posted its quarterly earnings data 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 net margin of 80.90% and a negative return on equity of 11.68%. The company had revenue of $96.97 million during the quarter, compared to the consensus estimate of $105.94 million. During the same period in the previous year, the business earned ($0.09) earnings per share. Redwire’s revenue for the quarter was up 57.9% on a year-over-year basis. As a group, research analysts anticipate that Redwire Corporation will post -0.76 EPS for the current fiscal year.

Insider Activity at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $21.48, for a total value of $22,995,736.20. Following the transaction, the director owned 1,077,419 shares in the company, valued at $23,142,960.12. The trade was a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 23,211,433 shares of company stock valued at $239,826,208. Insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC purchased a new stake in Redwire during the 1st quarter worth approximately $28,000. KBC Group NV purchased a new position in shares of Redwire in the first quarter valued at approximately $29,000. Sunbelt Securities Inc. boosted its stake in shares of Redwire by 601.1% in the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after acquiring an additional 3,396 shares during the last quarter. CWM LLC increased its position in shares of Redwire by 1,725.0% during the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after purchasing an additional 3,864 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in Redwire by 1,054.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after purchasing an additional 3,668 shares during the last quarter. 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.