Redwire (NYSE:RDW) Trading Down 4.6% – Time to Sell?

Redwire Corporation (NYSE:RDW) traded down 4.6% on Wednesday . The company traded as low as $10.69 and last traded at $10.7150. Approximately 12,344,945 shares traded hands during trading, a decline of 55% from the average session volume of 27,469,695 shares. The stock had previously closed at $11.23.

Wall Street Analysts Forecast Growth

Several research firms have commented on RDW. Canaccord Genuity Group raised their target price on shares of Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research report on Friday, July 17th. Cantor Fitzgerald increased their price target on Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.69.

Redwire Stock Down 0.0%

The business’s 50 day simple moving average is $10.69 and its 200 day simple moving average is $11.58. The company has a market capitalization of $2.72 billion, a PE ratio of -7.44 and a beta of 3.08. 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 issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate 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 business had revenue of $117.07 million during the quarter, compared to the consensus estimate of $107.10 million. As a group, analysts forecast that Redwire Corporation will post -0.7 EPS for the current year.

Institutional Investors Weigh In On Redwire

Several hedge funds have recently bought and sold shares of RDW. AQR Capital Management LLC grew its stake in Redwire by 125.0% during the 1st quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock valued at $426,000 after acquiring an additional 28,576 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Redwire by 352.8% in 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 shares of Redwire in the first quarter worth approximately $69,000. Rhumbline Advisers boosted its holdings in shares of Redwire by 61.0% during the second quarter. Rhumbline Advisers now owns 56,517 shares of the company’s stock worth $921,000 after purchasing an additional 21,417 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Redwire by 57.6% during the second quarter. Invesco Ltd. now owns 21,198 shares of the company’s stock worth $346,000 after purchasing an additional 7,750 shares during the period. 8.10% of the stock is owned by hedge funds and other institutional investors.

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.