Redwire (NYSE:RDW) Director Sells $19,439,937.72 in Stock

Redwire Corporation (NYSE:RDW) Director Ae Red Holdings, Llc sold 1,862,063 shares of Redwire stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $10.44, for a total value of $19,439,937.72. Following the sale, the director directly owned 83,632,283 shares in the company, valued at approximately $873,121,034.52. The trade was a 2.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Redwire Stock Down 7.2%

RDW traded down $0.76 on Wednesday, reaching $9.88. The company’s stock had a trading volume of 23,357,921 shares, compared to its average volume of 24,201,992. Redwire Corporation has a 1 year low of $4.87 and a 1 year high of $26.66. The business’s 50 day moving average is $6.80 and its 200 day moving average is $9.80. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.05. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -3.12 and a beta of 2.44.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC acquired a new stake in shares of Redwire in the 2nd quarter worth approximately $54,000. Abich Financial Wealth Management LLC bought a new stake in Redwire during the third quarter worth approximately $41,000. Russell Investments Group Ltd. lifted its position in Redwire by 308.6% in the third quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock worth $44,000 after purchasing an additional 3,672 shares during the period. Tower Research Capital LLC TRC lifted its position in Redwire by 32.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after purchasing an additional 1,533 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Redwire by 440.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock valued at $60,000 after purchasing an additional 5,395 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Analyst Upgrades and Downgrades

RDW has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and issued a $22.00 target price on shares of Redwire in a research note on Tuesday, December 23rd. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Industrial Alliance Securities set a $9.00 target price on Redwire in a research report on Thursday, November 6th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research report on Thursday, November 6th. Finally, Truist Financial reduced their price objective on Redwire from $11.00 to $8.00 and set a “hold” rating on the stock in a research note on Friday, November 7th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.50.

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.