Redwire (NYSE:RDW) Shares Down 15.6% – Time to Sell?

Redwire Corporation (NYSE:RDW) dropped 15.6% on Monday . The stock traded as low as $20.30 and last traded at $20.74. Approximately 56,039,950 shares traded hands during trading, an increase of 86% from the average daily volume of 30,201,844 shares. The stock had previously closed at $24.57.

Analyst Ratings Changes

RDW has been the subject of several recent analyst reports. Truist Financial raised shares of Redwire to a “strong-buy” rating in a report on Friday, May 1st. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Canaccord Genuity Group increased their price target on shares of Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Redwire currently has an average rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Price Performance

The firm has a market capitalization of $3.95 billion, a P/E ratio of -7.67 and a beta of 2.92. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37. The company’s 50 day moving average price is $11.95 and its 200 day moving average price is $9.75.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business had revenue of $96.97 million during the quarter, compared to the consensus estimate of $105.94 million. During the same period in the previous year, the business posted ($0.09) earnings per share. Redwire’s revenue was up 57.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Redwire Corporation will post -0.7 EPS for the current fiscal year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $9.15, for a total value of $68,625,000.00. Following the transaction, the director directly owned 36,135,217 shares of the company’s stock, valued at approximately $330,637,235.55. This trade represents a 17.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 23,327,795 shares of company stock valued at $228,806,188 over the last quarter. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Redwire

A number of hedge funds and other institutional investors have recently bought and sold shares of RDW. AE Industrial Partners LP boosted its position in shares of 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 purchasing an additional 6,101,959 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Redwire by 7,512.5% during the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock worth $57,970,000 after purchasing an additional 6,730,414 shares in the last quarter. State Street Corp increased its holdings in shares of Redwire by 61.1% in the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after acquiring an additional 1,786,038 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Redwire by 2.9% in the third quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock worth $29,153,000 after acquiring an additional 91,045 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of Redwire by 140.8% in the fourth quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock worth $15,503,000 after acquiring an additional 1,192,885 shares in the last quarter. 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.