Redwire (NYSE:RDW) Trading Down 2.1% – What’s Next?

Redwire Corporation (NYSE:RDW) dropped 2.1% on Thursday . The company traded as low as $12.87 and last traded at $13.2050. Approximately 16,191,734 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 29,306,641 shares. The stock had previously closed at $13.49.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RDW. Canaccord Genuity Group boosted their target price on shares of Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. Cantor Fitzgerald lifted their price target on shares of Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Truist Financial upgraded Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Alliance Global Partners reissued a “buy” rating on shares of Redwire in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $14.44.

Redwire Stock Up 2.8%

The stock has a 50 day moving average of $11.56 and a 200-day moving average of $11.39. The firm has a market capitalization of $3.24 billion, a P/E ratio of -9.30 and a beta of 3.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 3.92.

Redwire (NYSE:RDW) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) EPS 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 the consensus estimate of $107.10 million. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. Research analysts predict that Redwire Corporation will post -0.68 earnings per share for the current fiscal year.

Insider Activity at Redwire

In related 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 completion of the transaction, the director directly owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jupiter Topco LLC bought a new position in shares of Redwire in the second quarter worth $894,000. Hsbc Holdings PLC purchased a new position in shares of Redwire in the second quarter valued at $350,000. Legal & General Group Plc bought a new stake in shares of Redwire during the 2nd quarter valued at $1,763,000. The Manufacturers Life Insurance Company bought a new stake in shares of Redwire during the 2nd quarter valued at $1,303,000. Finally, Algert Global LLC lifted its holdings in Redwire by 247.6% during the 2nd quarter. Algert Global LLC now owns 175,870 shares of the company’s stock worth $2,151,000 after purchasing an additional 125,270 shares in the last quarter. Institutional investors own 8.10% of the company’s stock.

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.