Redwire (NYSE:RDW) Stock Price Down 2.7% – Time to Sell?

Redwire Corporation (NYSE:RDW)’s stock price traded down 2.7% during trading on Tuesday . The stock traded as low as $8.02 and last traded at $8.5950. Approximately 11,975,247 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 30,035,787 shares. The stock had previously closed at $8.83.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Canaccord Genuity Group raised their price objective on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a report on Monday, May 11th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Jefferies Financial Group raised Redwire to a “hold” rating in a report on Wednesday, June 10th. Finally, Wall Street Zen downgraded Redwire from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.44.

Redwire Trading Down 2.7%

The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -3.21 and a beta of 3.01. The firm’s 50-day moving average is $13.93 and its 200 day moving average is $11.37.

Redwire (NYSE:RDW) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) 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 company’s revenue was up 57.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.09) earnings per share. On average, equities analysts predict that Redwire Corporation will post -0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related 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 completion of the sale, the director directly owned 1,077,419 shares in the company, valued at $23,142,960.12. This represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RDW. JPMorgan Chase & Co. increased its stake in shares of Redwire by 2,556.0% in the third quarter. JPMorgan Chase & Co. now owns 577,271 shares of the company’s stock valued at $5,190,000 after buying an additional 555,536 shares during the period. Capelight Capital Asset Management LP acquired a new position in shares of Redwire in the fourth quarter worth approximately $1,330,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Redwire in the fourth quarter worth approximately $7,676,000. Trivest Advisors Ltd bought a new stake in Redwire in the first quarter valued at approximately $5,398,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Redwire during the 4th quarter valued at approximately $497,000. 8.10% of the stock is 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.