Redwire (NYSE:RDW) Stock Falls 3.6% Following Insider Selling

Redwire Corporation (NYSE:RDW)’s share price dropped 3.6% on Monday following insider selling activity. The company traded as low as $11.17 and last traded at $11.2060. 11,791,346 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 26,499,336 shares. The stock had previously closed at $11.62.

Specifically, Director Ae Red Holdings, Llc sold 929,435 shares of the firm’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 of the company’s stock, valued at $1,678,138.56. This trade represents a 86.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

RDW has been the topic of several recent research reports. Bank of America lifted their target price on shares of Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a research report on Monday, August 31st. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Thursday, August 6th. Wall Street Zen raised shares of Redwire from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Guggenheim assumed coverage on shares of Redwire in a report on Monday, September 14th. They set a “neutral” rating on the stock. Finally, Cantor Fitzgerald boosted their price objective on shares of Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.69.

Redwire Price Performance

The firm has a market capitalization of $2.80 billion, a P/E ratio of -7.68 and a beta of 3.08. The company has a fifty day moving average of $10.95 and a 200 day moving average of $11.75. 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 issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping 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. Sell-side analysts predict that Redwire Corporation will post -0.7 earnings per share for the current year.

Institutional Trading of Redwire

Large investors have recently bought and sold shares of the business. Parallel Advisors LLC bought a new position in shares of Redwire in the 1st quarter worth about $28,000. KBC Group NV bought a new stake in shares of Redwire during the 1st quarter valued at about $29,000. Rockefeller Capital Management L.P. grew its stake in 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 period. IFP Advisors Inc grew its stake in Redwire by 3,662.5% during the second quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock worth $44,000 after purchasing an additional 3,516 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new position in Redwire in the second quarter valued at approximately $57,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

About Redwire

Redwire Corporation is a space infrastructure and technology company that develops products and services for government, commercial and international space customers. Its capabilities support the design, manufacture and operation of spacecraft, space systems and related infrastructure across missions in low Earth orbit and beyond.

The company’s offerings include digital engineering and mission-support services, spacecraft platforms, avionics, sensors, power systems, deployable structures and solar arrays.