Redwire (NYSE:RDW) Trading Down 2.3% – Time to Sell?

Redwire Corporation (NYSE:RDW) shares were down 2.3% on Friday . The company traded as low as $10.59 and last traded at $10.6250. Approximately 11,863,244 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 27,294,105 shares. The stock had previously closed at $10.87.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group set a $15.00 price target on Redwire in a research report on Sunday, August 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Thursday, August 6th. Bank of America boosted their price target on shares of Redwire from $7.00 to $8.00 and gave the company an “underperform” rating in a research report on Monday, August 31st. Finally, Cantor Fitzgerald upped their price objective on shares of Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a report on Wednesday, August 5th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Redwire currently has a consensus rating of “Hold” and an average target price of $14.69.

Redwire Trading Down 2.3%

The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -7.28 and a beta of 3.08. The business’s 50-day simple moving average is $10.68 and its two-hundred day simple moving average is $11.57. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03.

Redwire (NYSE:RDW) last released its quarterly 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 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%. Equities analysts forecast that Redwire Corporation will post -0.7 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Parvin Asset Management LLC grew its position in Redwire by 6.9% in the 1st quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock valued at $152,000 after acquiring an additional 1,150 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Redwire by 32.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock valued at $102,000 after purchasing an additional 1,533 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Redwire by 12.0% in the second quarter. BNP Paribas Financial Markets now owns 30,396 shares of the company’s stock valued at $495,000 after purchasing an additional 3,248 shares in the last quarter. Parallel Advisors LLC acquired a new position in shares of Redwire in the first quarter valued at approximately $28,000. Finally, KBC Group NV purchased a new stake in Redwire during the 1st quarter worth approximately $29,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

About Redwire

Redwire Corporation is a space infrastructure and technology company that develops products and services for government, commercial and international space customers. Its capabilities support the design, manufacture and operation of spacecraft, space systems and related infrastructure across missions in low Earth orbit and beyond.

The company’s offerings include digital engineering and mission-support services, spacecraft platforms, avionics, sensors, power systems, deployable structures and solar arrays.