Redwire (NYSE:RDW) Releases Earnings Results, Misses Estimates By $0.19 EPS

Redwire (NYSE:RDW) released its quarterly earnings data on Wednesday. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.19), Zacks reports. The business had revenue of $108.79 million for the quarter, compared to analysts’ expectations of $98.78 million. Redwire had a negative net margin of 67.55% and a negative return on equity of 15.65%.

Redwire Price Performance

RDW stock traded down $0.91 during mid-day trading on Friday, hitting $8.65. The company had a trading volume of 10,276,933 shares, compared to its average volume of 27,855,643. The company has a 50-day moving average price of $9.67 and a 200 day moving average price of $8.48. Redwire has a 12-month low of $4.87 and a 12-month high of $22.25. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -3.65 and a beta of 2.45. The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 12,656,683 shares of Redwire stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $10.51, for a total value of $133,021,738.33. Following the sale, the director 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 40,400,346 shares of company stock worth $453,127,301. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its stake in Redwire by 125.0% during the first quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock valued at $426,000 after purchasing an additional 28,576 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Redwire by 352.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after buying an additional 276,814 shares during the last quarter. Strs Ohio bought a new stake in shares of Redwire in the 1st quarter worth about $69,000. Rhumbline Advisers raised its position in shares of Redwire by 61.0% during the 2nd quarter. Rhumbline Advisers now owns 56,517 shares of the company’s stock valued at $921,000 after buying an additional 21,417 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Redwire by 57.6% in the 2nd quarter. Invesco Ltd. now owns 21,198 shares of the company’s stock valued at $346,000 after acquiring an additional 7,750 shares during the last quarter. 8.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Truist Financial set a $13.00 target price on shares of Redwire in a report on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research report on Thursday, January 22nd. Zacks Research cut Redwire from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 10th. iA Financial set a $9.00 price target on Redwire in a report on Thursday, November 6th. Finally, Roth Mkm restated a “buy” rating and issued a $20.00 price target on shares of Redwire in a research report on Wednesday, January 28th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Redwire presently has an average rating of “Hold” and a consensus price target of $13.75.

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.