Redwire (NYSE:RDW) Trading Down 3.8% – Time to Sell?

Redwire Corporation (NYSE:RDW)’s share price was down 3.8% during mid-day trading on Tuesday . The company traded as low as $12.30 and last traded at $12.8950. 14,506,461 shares changed hands during trading, a decline of 50% from the average session volume of 29,027,289 shares. The stock had previously closed at $13.41.

Analyst Upgrades and Downgrades

RDW has been the subject of several recent research reports. Cantor Fitzgerald raised their price target on shares of Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. Jefferies Financial Group set a $15.00 target price on Redwire in a report on Sunday, August 9th. Canaccord Genuity Group boosted their target price on Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Truist Financial upgraded Redwire to a “strong-buy” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.44.

Redwire Stock Down 3.9%

The firm’s 50-day moving average price is $11.36 and its two-hundred day moving average price is $11.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92. The firm has a market cap of $2.98 billion, a PE ratio of -8.18 and a beta of 3.05.

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

Insiders Place Their Bets

In other 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 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 $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 available through this hyperlink. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDW. AQR Capital Management LLC increased its stake in Redwire by 125.0% in the 1st quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock valued at $426,000 after purchasing an additional 28,576 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Redwire by 352.8% during the first quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after purchasing an additional 276,814 shares in the last quarter. Strs Ohio purchased a new stake in Redwire during the first quarter worth $69,000. Rhumbline Advisers grew its holdings in Redwire by 61.0% in the second quarter. Rhumbline Advisers now owns 56,517 shares of the company’s stock valued at $921,000 after purchasing an additional 21,417 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Redwire by 57.6% in the second quarter. Invesco Ltd. now owns 21,198 shares of the company’s stock valued at $346,000 after purchasing an additional 7,750 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.