Redwire (NYSE:RDW) Stock Price Down 9.2% – Here’s What Happened

Redwire Corporation (NYSE:RDW)’s stock price dropped 9.2% during trading on Monday . The stock traded as low as $12.60 and last traded at $13.0290. 32,634,866 shares traded hands during mid-day trading, an increase of 1% from the average session volume of 32,413,318 shares. The stock had previously closed at $14.35.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Jefferies Financial Group raised shares of Redwire to a “hold” rating in a report on Wednesday, June 10th. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Finally, Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a report on Friday, May 1st. One research 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, Redwire has a consensus rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Stock Down 9.2%

The business’s 50 day moving average price is $14.03 and its 200-day moving average price is $10.85. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75. The firm has a market capitalization of $3.11 billion, a PE ratio of -4.86 and a beta of 2.91.

Redwire (NYSE:RDW) last announced its earnings results 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 firm had revenue of $96.97 million during the quarter, compared to analysts’ expectations of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The firm’s revenue for the quarter was up 57.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.09) EPS. As a group, equities research analysts forecast that Redwire Corporation will post -0.76 earnings per share for the current year.

Insider Transactions at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total value of $22,995,736.20. Following the sale, the director directly owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 23,211,433 shares of company stock worth $239,826,208. 0.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Redwire

Several large investors have recently bought and sold shares of RDW. JPMorgan Chase & Co. boosted its holdings 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 purchasing an additional 555,536 shares in the last quarter. Capelight Capital Asset Management LP acquired a new stake in shares of Redwire in the 4th quarter valued at approximately $1,330,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Redwire in the 4th quarter valued at approximately $7,676,000. Quantbot Technologies LP purchased a new stake in shares of Redwire in the third quarter valued at approximately $2,607,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Redwire in the fourth quarter valued at approximately $497,000. Hedge funds and other 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.