Redwire (NYSE:RDW) Shares Down 3.6% – Here’s Why

Redwire Corporation (NYSE:RDW) shares were down 3.6% during mid-day trading on Monday. The stock traded as low as $9.20 and last traded at $9.2360. 8,591,822 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 25,833,783 shares. The stock had previously closed at $9.58.

Analyst Ratings Changes

A number of research firms have recently commented on RDW. Guggenheim initiated coverage on Redwire in a report on Monday, September 14th. They set a “neutral” rating for the company. Jefferies Financial Group set a $15.00 price objective on Redwire in a research note on Sunday, August 9th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Thursday, August 6th. Cantor Fitzgerald boosted their target price on Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Finally, Canaccord Genuity Group increased their target price on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Redwire presently has a consensus rating of “Hold” and a consensus price target of $14.69.

Redwire Price Performance

The business’s 50-day simple moving average is $11.30 and its two-hundred day simple moving average is $11.82. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of -6.33 and a beta of 3.12. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48.

Redwire (NYSE:RDW) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.07. The company had revenue of $117.07 million during 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 expect that Redwire Corporation will post -0.70 earnings per share for the current year.

Insider Buying and Selling at Redwire

In related news, Director Ae Red Holdings, Llc sold 929,435 shares of the business’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $11.34, for a total transaction of $10,539,792.90. Following the sale, the director owned 147,984 shares in the company, valued at $1,678,138.56. The trade was a 86.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Redwire

Institutional investors and hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC bought a new position in Redwire in the first quarter valued at about $28,000. KBC Group NV bought a new stake in shares of Redwire during the first quarter worth about $29,000. Rockefeller Capital Management L.P. grew its holdings 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 purchasing an additional 3,668 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Redwire by 70.4% during the third quarter. GAMMA Investing LLC now owns 3,213 shares of the company’s stock worth $34,000 after purchasing an additional 1,327 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Redwire by 3,662.5% in the second quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock valued at $44,000 after buying an additional 3,516 shares during the period. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Company Profile

Redwire Corporation is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its work supports space exploration, national security, civil space programs and the growing commercial space economy.

The company’s offerings include spacecraft platforms, avionics, sensors, deployable structures, solar arrays, in-space manufacturing systems, robotic technologies and components designed for satellite and space station applications.