Redwire (NYSE:RDW) Stock Price Down 5.2% – What’s Next?

Shares of Redwire Corporation (NYSE:RDW) traded down 5.2% on Thursday . The company traded as low as $11.38 and last traded at $11.76. Approximately 15,014,336 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 28,856,160 shares. The stock had previously closed at $12.40.

Analysts Set New Price Targets

A number of research firms recently issued reports on RDW. Canaccord Genuity Group raised their price objective on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Cantor Fitzgerald raised their target price on Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Truist Financial raised shares of Redwire to a “strong-buy” rating in a report on Friday, May 1st. Jefferies Financial Group set a $15.00 target price on Redwire in a research report on Sunday, August 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.44.

Redwire Trading Up 1.9%

The firm’s 50-day simple moving average is $11.19 and its 200-day simple moving average is $11.39. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $3.00 billion, a PE ratio of -8.21 and a beta of 3.05.

Redwire (NYSE:RDW) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%.The business had revenue of $117.07 million for the quarter, compared to analysts’ expectations of $107.10 million. Equities analysts expect that Redwire Corporation will post -0.68 earnings per share for the current year.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is owned by insiders.

Institutional Trading of Redwire

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