Redwire (NYSE:RDW) Shares Down 5.9% – Should You Sell?

Redwire Corporation (NYSE:RDW)’s stock price was down 5.9% during trading on Wednesday . The stock traded as low as $10.20 and last traded at $10.0260. Approximately 13,722,734 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 25,941,125 shares. The stock had previously closed at $10.66.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Cantor Fitzgerald dropped their price target on Redwire from $20.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. KeyCorp assumed coverage on Redwire in a research report on Thursday, December 18th. They issued a “sector weight” rating on the stock. Truist Financial set a $13.00 price objective on shares of Redwire in a research note on Friday, January 9th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research note on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Redwire currently has a consensus rating of “Hold” and a consensus price target of $13.13.

Redwire Trading Down 4.5%

The business’s fifty day moving average is $7.55 and its two-hundred day moving average is $9.43. The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -3.21 and a beta of 2.44.

Redwire (NYSE:RDW) last released its earnings results on Wednesday, November 5th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.15). The firm had revenue of $103.43 million for the quarter, compared to the consensus estimate of $132.05 million. Redwire had a negative return on equity of 16.24% and a negative net margin of 70.32%. Equities analysts anticipate that Redwire Corporation will post -0.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Redwire

In related news, Director Ae Red Holdings, Llc sold 12,656,683 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $10.51, for a total transaction of $133,021,738.33. Following the completion of the sale, the director directly owned 61,541,253 shares of the company’s stock, valued at $646,798,569.03. The trade was a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Chris Edmunds acquired 5,500 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was acquired at an average price of $5.46 per share, for a total transaction of $30,030.00. Following the completion of the acquisition, the chief accounting officer directly owned 107,441 shares of the company’s stock, valued at $586,627.86. This trade represents a 5.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 56,065 shares of company stock worth $330,047 and have sold 23,953,093 shares worth $252,001,857. 2.60% of the stock is owned by company insiders.

Institutional Trading of Redwire

Large investors have recently bought and sold shares of the business. Abich Financial Wealth Management LLC bought a new position in Redwire in the third quarter valued at approximately $41,000. Russell Investments Group Ltd. raised its position in Redwire by 308.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock valued at $44,000 after buying an additional 3,672 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Redwire during the 2nd quarter worth approximately $54,000. Caitong International Asset Management Co. Ltd boosted its holdings in Redwire by 440.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock worth $60,000 after purchasing an additional 5,395 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of Redwire during the 1st quarter worth about $69,000. 8.10% of the stock is 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.