Redwire (NYSE:RDW) Trading Down 2.1% Following Insider Selling

Redwire Corporation (NYSE:RDW)’s share price dropped 2.1% on Monday after an insider sold shares in the company. The stock traded as low as $14.72 and last traded at $14.7950. Approximately 41,612,439 shares traded hands during trading, an increase of 30% from the average daily volume of 32,125,160 shares. The stock had previously closed at $15.12.

Specifically, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the sale, the director owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. This represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

RDW has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Canaccord Genuity Group upped their price target on shares of Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. Finally, Jefferies Financial Group raised shares of Redwire to a “hold” rating in a research report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Redwire currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Stock Down 2.1%

The company has a market cap of $2.84 billion, a P/E ratio of -5.52 and a beta of 2.91. The stock’s 50-day moving average price is $13.58 and its 200-day moving average price is $10.53. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Redwire (NYSE:RDW) last released 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). The company had revenue of $96.97 million for the quarter, compared to the consensus estimate of $105.94 million. Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.Redwire’s revenue for the quarter was up 57.9% compared to the same quarter last year. During the same period last year, the company earned ($0.09) EPS. As a group, research analysts forecast that Redwire Corporation will post -0.76 EPS for the current year.

Hedge Funds Weigh In On Redwire

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Andar Capital Management HK Ltd lifted its position in Redwire by 76.5% in the 3rd quarter. Andar Capital Management HK Ltd now owns 300,000 shares of the company’s stock valued at $2,697,000 after acquiring an additional 130,000 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Redwire by 2,556.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 577,271 shares of the company’s stock valued at $5,190,000 after acquiring an additional 555,536 shares in the last quarter. Capelight Capital Asset Management LP bought a new position in Redwire in the 4th quarter valued at about $1,330,000. AE Industrial Partners LP lifted its position in shares of Redwire by 7.1% during the 3rd 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 in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Redwire during the 4th quarter worth approximately $7,676,000. Institutional investors own 8.10% of the company’s stock.

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.