Redwire (NYSE:RDW) Shares Gap Down – What’s Next?

Redwire Corporation (NYSE:RDW)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $12.94, but opened at $12.57. Redwire shares last traded at $12.5140, with a volume of 4,246,758 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RDW shares. Canaccord Genuity Group raised their target price on Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Jefferies Financial Group set a $15.00 price target on shares of Redwire in a research note on Sunday, August 9th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a report on Thursday, August 6th. Cantor Fitzgerald boosted their price objective on shares of Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $14.44.

Redwire Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of -8.53 and a beta of 3.05. The stock has a 50-day moving average price of $11.40 and a 200 day moving average price of $11.39.

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

Insiders Place Their Bets

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $23,142,960.12. This represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

Several institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC purchased a new position in Redwire during the 1st quarter worth $28,000. KBC Group NV purchased a new stake in shares of Redwire in the first quarter valued at about $29,000. Sunbelt Securities Inc. raised its holdings in shares of Redwire by 601.1% in the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after buying an additional 3,396 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Redwire by 1,054.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after buying an additional 3,668 shares during the period. Finally, CWM LLC boosted its stake in shares of Redwire by 1,725.0% during the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after buying an additional 3,864 shares during the period. 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.