Redwire (NYSE:RDW) Stock Price Down 5.4% – What’s Next?

Shares of Redwire Corporation (NYSE:RDW) were down 5.4% on Thursday . The stock traded as low as $11.14 and last traded at $11.3220. Approximately 20,851,632 shares changed hands during trading, a decline of 35% from the average session volume of 32,084,148 shares. The stock had previously closed at $11.97.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wall Street Zen cut Redwire from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Jefferies Financial Group upgraded Redwire to a “hold” rating in a research report on Wednesday, June 10th. Finally, Truist Financial raised Redwire to a “strong-buy” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Redwire currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Stock Up 0.1%

The firm has a market capitalization of $2.70 billion, a P/E ratio of -4.22 and a beta of 3.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75. The firm’s 50-day moving average is $14.32 and its 200 day moving average is $11.17.

Redwire (NYSE:RDW) last released its earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). The firm had revenue of $96.97 million for the quarter, compared to the consensus estimate of $105.94 million. Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.Redwire’s revenue for the quarter was up 57.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.09) EPS. As a group, equities research analysts predict that Redwire Corporation will post -0.81 EPS for the current fiscal year.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 3,145,207 shares of Redwire stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $10.57, for a total value of $33,244,837.99. Following the sale, the director owned 26,273,144 shares of the company’s stock, valued at approximately $277,707,132.08. This trade represents a 10.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 13,211,433 shares of company stock worth $147,576,208 in the last ninety days. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Redwire

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Redwire by 2,556.0% during the third quarter. JPMorgan Chase & Co. now owns 577,271 shares of the company’s stock valued at $5,190,000 after purchasing an additional 555,536 shares during the last quarter. Capelight Capital Asset Management LP bought a new position in Redwire in the fourth quarter valued at approximately $1,330,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Redwire during the 4th quarter worth approximately $7,676,000. Harbor Capital Advisors Inc. acquired a new position in shares of Redwire during the 4th quarter worth approximately $497,000. Finally, UBS Group AG raised its stake in shares of Redwire by 140.8% during the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock worth $15,503,000 after purchasing an additional 1,192,885 shares in the last quarter. Institutional investors and hedge funds 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.