Redwire (NYSE:RDW) Shares Down 5.9% – Time to Sell?

Shares of Redwire Corporation (NYSE:RDW) fell 5.9% on Wednesday. The stock traded as low as $8.47 and last traded at $8.6190. Approximately 12,168,088 shares were traded during trading, a decline of 53% from the average session volume of 25,683,480 shares. The stock had previously closed at $9.16.

Analysts Set New Price Targets

Several brokerages have weighed in on RDW. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Thursday. Canaccord Genuity Group lifted their target price on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Piper Sandler began coverage on shares of Redwire in a research note on Thursday. They issued a “neutral” rating and a $11.00 target price on the stock. Cantor Fitzgerald increased 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. Finally, Wall Street Zen raised shares of Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Redwire presently has an average rating of “Hold” and a consensus price target of $14.28.

Redwire Stock Performance

The company’s 50-day moving average price is $11.16 and its 200 day moving average price is $11.82. The stock has a market capitalization of $2.09 billion, a PE ratio of -5.71 and a beta of 3.12. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. The firm had revenue of $117.07 million for the quarter, compared to the consensus estimate of $107.10 million. On average, equities research analysts expect that Redwire Corporation will post -0.70 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 929,435 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $11.34, for a total value of $10,539,792.90. Following the completion of the transaction, the director owned 147,984 shares of the company’s stock, valued at approximately $1,678,138.56. The trade was a 86.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

Large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC purchased a new stake in Redwire during the first quarter valued at $28,000. KBC Group NV purchased a new stake in shares of Redwire in the 1st quarter worth $29,000. Rockefeller Capital Management L.P. grew its holdings 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 valued at $31,000 after purchasing an additional 3,668 shares during the period. GAMMA Investing LLC lifted its position in shares of Redwire by 70.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,213 shares of the company’s stock valued at $34,000 after buying an additional 1,327 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Redwire by 3,662.5% in 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. Institutional investors own 8.10% of the company’s stock.

Redwire Company Profile

Redwire Corporation is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its work supports space exploration, national security, civil space programs and the growing commercial space economy.

The company’s offerings include spacecraft platforms, avionics, sensors, deployable structures, solar arrays, in-space manufacturing systems, robotic technologies and components designed for satellite and space station applications.