Redwire (NYSE:RDW) Stock Price Down 8.7% – What’s Next?

Redwire Corporation (NYSE:RDW)’s stock price fell 8.7% on Tuesday . The stock traded as low as $13.18 and last traded at $13.5350. Approximately 45,221,712 shares were traded during trading, an increase of 40% from the average daily volume of 32,192,887 shares. The stock had previously closed at $14.83.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Jefferies Financial Group raised shares of Redwire to a “hold” rating in a report on Wednesday, June 10th. Finally, Canaccord Genuity Group boosted their price target on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Redwire 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 $2.74 billion, a P/E ratio of -5.33 and a beta of 2.92. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $13.85 and its 200-day moving average is $10.72.

Redwire (NYSE:RDW) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.24). The business had revenue of $96.97 million during the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same period last year, the business earned ($0.09) earnings per share. As a group, sell-side analysts predict that Redwire Corporation will post -0.76 EPS for the current fiscal year.

Insider Transactions at Redwire

In other news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the firm’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $9.15, for a total transaction of $68,625,000.00. Following the completion of the transaction, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 23,211,433 shares of company stock valued at $239,826,208. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

Institutional investors have recently modified their holdings of the business. Parallel Advisors LLC bought a new position in Redwire during the 1st quarter worth $28,000. KBC Group NV bought a new stake in shares of Redwire in the 1st quarter valued at about $29,000. Sunbelt Securities Inc. grew its position in shares of Redwire by 601.1% in the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after buying an additional 3,396 shares during the last quarter. CWM LLC increased its stake in shares of Redwire by 1,725.0% in the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after buying an additional 3,864 shares during the period. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Redwire by 1,054.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after buying an additional 3,668 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.