Redwire (NYSE:RDW) Trading Down 5.3% – Should You Sell?

Redwire Corporation (NYSE:RDW) shares fell 5.3% on Monday . The company traded as low as $11.38 and last traded at $11.3880. 10,885,981 shares were traded during mid-day trading, a decline of 62% from the average session volume of 28,637,221 shares. The stock had previously closed at $12.02.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RDW shares. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. Jefferies Financial Group set a $15.00 target price on Redwire in a research report on Sunday, August 9th. Cantor Fitzgerald increased their target price on Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Canaccord Genuity Group lifted their price target on Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Alliance Global Partners restated a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.44.

Redwire Stock Performance

The stock’s 50-day simple moving average is $11.19 and its 200-day simple moving average is $11.40. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of -7.80 and a beta of 3.05. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03.

Redwire (NYSE:RDW) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. The company had revenue of $117.07 million during the quarter, compared to the consensus estimate of $107.10 million. Analysts forecast that Redwire Corporation will post -0.68 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm’s 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 transaction, the director 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

Large investors have recently bought and sold shares of the company. Parallel Advisors LLC bought a new stake in shares of Redwire during the 1st quarter worth approximately $28,000. KBC Group NV bought a new stake in Redwire during the first quarter worth $29,000. Sunbelt Securities Inc. increased its stake 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 purchasing an additional 3,396 shares during the last quarter. CWM LLC boosted its stake in 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 in the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in 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 acquiring an additional 3,668 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.