Redwire (NYSE:RDW) Trading Down 1.6% – Here’s What Happened

Redwire Corporation (NYSE:RDW) traded down 1.6% during mid-day trading on Wednesday . The stock traded as low as $11.22 and last traded at $11.30. 7,745,761 shares traded hands during trading, a decline of 73% from the average daily volume of 28,400,100 shares. The stock had previously closed at $11.48.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Canaccord Genuity Group raised their target price on Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, August 10th. Weiss Ratings reaffirmed 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 research note on Thursday, August 6th. Finally, Jefferies Financial Group set a $15.00 price target on Redwire in a report on Sunday, August 9th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Redwire has an average rating of “Hold” and a consensus target price of $14.44.

Redwire Trading Up 0.2%

The business’s 50 day moving average price is $10.96 and its two-hundred day moving average price is $11.43. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -7.74 and a beta of 3.05.

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, beating the consensus estimate of ($0.16) by $0.07. The company had revenue of $117.07 million for the quarter, compared to analyst estimates of $107.10 million. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. On average, equities analysts predict that Redwire Corporation will post -0.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the sale, the director owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. The trade was a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Corient Private Wealth LP grew its position in Redwire by 256.5% during the 2nd quarter. Corient Private Wealth LP now owns 38,081 shares of the company’s stock worth $466,000 after acquiring an additional 27,400 shares during the last quarter. Amundi increased its holdings in Redwire by 59.2% in the 2nd quarter. Amundi now owns 63,982 shares of the company’s stock worth $782,000 after purchasing an additional 23,785 shares in the last quarter. California State Teachers Retirement System raised its position in Redwire by 2,236.7% in the second quarter. California State Teachers Retirement System now owns 2,302,310 shares of the company’s stock valued at $28,157,000 after purchasing an additional 2,203,783 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Redwire in the second quarter valued at about $57,000. Finally, AlphaGrep UK Ltd acquired a new stake in shares of Redwire during the second quarter valued at about $216,000. 8.10% of the stock is currently owned by institutional investors.

About Redwire

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.