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

Shares of Redwire Corporation (NYSE:RDW) gapped down before the market opened on Thursday . The stock had previously closed at $24.00, but opened at $22.94. Redwire shares last traded at $24.4230, with a volume of 20,448,298 shares.

Analyst Ratings Changes

RDW has been the topic of several research analyst reports. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. Canaccord Genuity Group increased their price objective on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Jefferies Financial Group reissued a “buy” rating and issued a $13.00 target price on shares of Redwire in a research note on Sunday, May 10th. Finally, Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.22.

Redwire Stock Down 5.6%

The firm’s 50 day moving average price is $11.73 and its 200-day moving average price is $9.62. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market cap of $4.69 billion, a P/E ratio of -9.12 and a beta of 2.41.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share 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 business had revenue of $96.97 million for the quarter, compared to the consensus estimate of $105.94 million. During the same period last year, the firm earned ($0.09) earnings per share. The company’s quarterly revenue was up 57.9% on a year-over-year basis. As a group, equities research analysts expect that Redwire Corporation will post -0.7 EPS for the current year.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 977,887 shares of the stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $10.57, for a total value of $10,336,265.59. Following the transaction, the director owned 21,494,349 shares of the company’s stock, valued at $227,195,268.93. This represents a 4.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 23,327,795 shares of company stock worth $228,806,188. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AE Industrial Partners LP boosted its holdings in Redwire by 7.1% during the third quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock worth $823,472,000 after buying an additional 6,101,959 shares during the last quarter. Bank of America Corp DE grew its position in shares of Redwire by 7,512.5% during the 1st quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock worth $57,970,000 after buying an additional 6,730,414 shares during the period. State Street Corp increased its stake in shares of Redwire by 61.1% in the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after acquiring an additional 1,786,038 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Redwire by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock valued at $29,153,000 after acquiring an additional 91,045 shares during the last quarter. Finally, UBS Group AG raised its position in shares of Redwire by 140.8% in the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after acquiring an additional 1,192,885 shares during the period. Institutional investors own 8.10% of the company’s stock.

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.