Redwire (NYSE:RDW) Stock Price Down 4.2% – What’s Next?

Shares of Redwire Corporation (NYSE:RDW) were down 4.2% during trading on Wednesday . The stock traded as low as $9.29 and last traded at $9.3350. 19,174,458 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 31,070,127 shares. The stock had previously closed at $9.74.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wall Street Zen downgraded Redwire from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Jefferies Financial Group upgraded Redwire to a “hold” rating in a research note on Wednesday, June 10th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Truist Financial upgraded Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Canaccord Genuity Group increased their price target on shares of 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 assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Redwire presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.44.

Redwire Stock Performance

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 stock has a fifty day moving average price of $14.45 and a 200-day moving average price of $11.36. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -3.14 and a beta of 3.01.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The firm had revenue of $96.97 million during the quarter, compared to analyst estimates of $105.94 million. During the same quarter in the previous year, the business earned ($0.09) EPS. Redwire’s revenue for the quarter was up 57.9% on a year-over-year basis. On average, analysts expect that Redwire Corporation will post -0.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’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 directly owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. The trade was a 49.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 3,814,824 shares of company stock valued at $51,401,987 over the last three months. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Redwire

A number of large investors have recently made changes to their positions in the stock. Tema ETFs LLC boosted its holdings in Redwire by 51,491.5% during the second quarter. Tema ETFs LLC now owns 621,162 shares of the company’s stock worth $7,597,000 after buying an additional 619,958 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Redwire by 82.7% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 63,067 shares of the company’s stock valued at $771,000 after buying an additional 28,540 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Redwire in the second quarter valued at about $1,730,000. Militia Capital Management LLC acquired a new stake in shares of Redwire during the 1st quarter valued at approximately $281,000. Finally, Parallel Advisors LLC acquired a new stake in shares of Redwire during the 1st quarter valued at approximately $28,000. 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.