Redwire (NYSE:RDW) Shares Down 2.2% – Here’s Why

Redwire Corporation (NYSE:RDW) fell 2.2% during mid-day trading on Wednesday . The stock traded as low as $11.88 and last traded at $11.9560. 21,750,581 shares traded hands during trading, a decline of 32% from the average daily volume of 32,173,068 shares. The stock had previously closed at $12.23.

Analyst Ratings Changes

RDW has been the topic of several research reports. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Wall Street Zen raised Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. Truist Financial raised Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group upgraded Redwire to a “hold” rating in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Trading Down 2.2%

The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of -4.46 and a beta of 2.92. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75. The firm has a fifty day moving average of $14.28 and a 200-day moving average of $11.11.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The company’s revenue for the quarter was up 57.9% compared to the same quarter last year. As a group, equities analysts predict that Redwire Corporation will post -0.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 3,145,207 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $10.57, for a total value of $33,244,837.99. Following the completion of the sale, the director owned 26,273,144 shares of the company’s stock, valued at $277,707,132.08. This trade represents a 10.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 13,211,433 shares of company stock valued at $147,576,208. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC purchased a new stake in Redwire during the 1st quarter worth $28,000. KBC Group NV acquired a new position in Redwire in the 1st quarter worth $29,000. Sunbelt Securities Inc. boosted its position in Redwire by 601.1% in the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after buying an additional 3,396 shares during the last quarter. CWM LLC grew its stake in shares of Redwire by 1,725.0% during the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after acquiring an additional 3,864 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Redwire by 1,054.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after acquiring an additional 3,668 shares in the last quarter. 8.10% of the stock is currently owned by hedge funds and other 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.