Redwire (NYSE:RDW) Trading Down 3.1% – What’s Next?

Shares of Redwire Corporation (NYSE:RDW) fell 3.1% during trading on Friday . The company traded as low as $10.68 and last traded at $10.92. Approximately 9,701,842 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 28,163,055 shares. The stock had previously closed at $11.27.

Analysts Set New Price Targets

RDW has been the topic of a number of analyst reports. Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a research note on Sunday, August 9th. Cantor Fitzgerald boosted their target price on shares of Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Redwire presently has a consensus rating of “Hold” and a consensus target price of $14.44.

Redwire Trading Down 3.1%

The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.73 billion, a P/E ratio of -7.48 and a beta of 3.05. The firm has a 50-day moving average of $10.89 and a two-hundred day moving average of $11.43.

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

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Redwire

A number of institutional investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LP lifted its stake in Redwire by 256.5% in the 2nd quarter. Corient Private Wealth LP now owns 38,081 shares of the company’s stock valued at $466,000 after purchasing an additional 27,400 shares during the last quarter. Amundi grew its stake in shares of Redwire by 59.2% during the second quarter. Amundi now owns 63,982 shares of the company’s stock worth $782,000 after buying an additional 23,785 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Redwire by 2,236.7% during the second quarter. California State Teachers Retirement System now owns 2,302,310 shares of the company’s stock worth $28,157,000 after buying an additional 2,203,783 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Redwire during the second quarter worth $57,000. Finally, AlphaGrep UK Ltd acquired a new position in shares of Redwire during the second quarter worth $216,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.