Redwire (NYSE:RDW) Lowered to Strong Sell Rating by Zacks Research

Redwire (NYSE:RDW) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages have also issued reports on RDW. Bank of America lowered their price target on shares of Redwire from $9.00 to $6.00 and set an “underperform” rating on the stock in a report on Wednesday, November 19th. HC Wainwright reiterated a “buy” rating and set a $22.00 target price on shares of Redwire in a research report on Tuesday, December 23rd. Roth Mkm reissued a “buy” rating and issued a $20.00 price target on shares of Redwire in a research report on Wednesday, January 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Thursday, January 22nd. Finally, Canaccord Genuity Group decreased their price objective on Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Redwire currently has a consensus rating of “Hold” and a consensus target price of $13.75.

Redwire Stock Performance

RDW opened at $9.02 on Tuesday. The stock’s 50 day simple moving average is $9.36 and its 200-day simple moving average is $8.83. The company has a current ratio of 1.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.49 billion, a PE ratio of -2.84 and a beta of 2.45. Redwire has a 1 year low of $4.87 and a 1 year high of $26.66.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 12,656,683 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 61,541,253 shares of the company’s stock, valued at approximately $646,798,569.03. This represents a 17.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 40,400,346 shares of company stock valued at $453,127,301 in the last quarter. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RDW. AE Industrial Partners LP increased its holdings in shares of Redwire by 139.3% in the second quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock valued at $1,394,000 after purchasing an additional 49,765,262 shares in the last quarter. Canal Insurance CO bought a new position in Redwire in the 2nd quarter valued at $3,260,000. Register Financial Advisors LLC boosted its position in Redwire by 46.8% in the 3rd quarter. Register Financial Advisors LLC now owns 327,900 shares of the company’s stock valued at $2,948,000 after buying an additional 104,597 shares during the last quarter. Voya Investment Management LLC acquired a new stake in shares of Redwire in the 3rd quarter valued at $20,372,000. Finally, Geode Capital Management LLC raised its position in shares of Redwire by 77.1% during the second quarter. Geode Capital Management LLC now owns 935,297 shares of the company’s stock worth $15,248,000 after acquiring an additional 407,131 shares during the last quarter. 8.10% of the stock is owned by institutional investors and hedge funds.

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.