Redwire (NYSE:RDW) Shares Down 3.6% – Here’s What Happened

Shares of Redwire Corporation (NYSE:RDW) fell 3.6% during mid-day trading on Thursday . The stock traded as low as $12.28 and last traded at $12.8090. 38,634,371 shares were traded during trading, an increase of 10% from the average session volume of 35,222,555 shares. The stock had previously closed at $13.29.

Analyst Ratings Changes

Several analysts have recently weighed in on RDW shares. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Industrial Alliance Securities set a $9.00 price target on Redwire in a research report on Thursday, November 6th. Cantor Fitzgerald decreased their price objective on Redwire from $20.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. KeyCorp started coverage on shares of Redwire in a research report on Thursday, December 18th. They set a “sector weight” rating on the stock. Finally, Roth Mkm reiterated a “buy” rating and issued a $20.00 price target on shares of Redwire in a research report on Wednesday. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.75.

Redwire Stock Down 3.6%

The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -4.04 and a beta of 2.44. The company has a current ratio of 1.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20. The firm’s 50 day simple moving average is $8.35 and its 200-day simple moving average is $9.32.

Redwire (NYSE:RDW) last issued its earnings results on Wednesday, November 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.15). The firm had revenue of $103.43 million during the quarter, compared to analysts’ expectations of $132.05 million. Redwire had a negative net margin of 70.32% and a negative return on equity of 16.24%. On average, sell-side analysts anticipate that Redwire Corporation will post -0.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Redwire news, EVP Aaron Michael Futch acquired 18,410 shares of the business’s stock in a transaction on Friday, November 14th. The stock was purchased at an average price of $5.45 per share, for a total transaction of $100,334.50. Following the completion of the transaction, the executive vice president owned 88,704 shares of the company’s stock, valued at $483,436.80. The trade was a 26.19% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter Anthony Cannito, Jr. bought 32,155 shares of Redwire stock in a transaction on Monday, November 10th. The stock was acquired at an average cost of $6.21 per share, with a total value of $199,682.55. Following the acquisition, the chief executive officer owned 526,728 shares of the company’s stock, valued at $3,270,980.88. This trade represents a 6.50% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 56,065 shares of company stock worth $330,047 and have sold 23,953,093 shares worth $252,001,857. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AE Industrial Partners LP boosted its position in Redwire by 139.3% during the second quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock worth $1,394,000 after acquiring an additional 49,765,262 shares during the last quarter. Voya Investment Management LLC purchased a new position in shares of Redwire during the 3rd quarter worth $20,372,000. Hood River Capital Management LLC acquired a new stake in shares of Redwire during the second quarter worth $36,206,000. Cooper Creek Partners Management LLC acquired a new stake in shares of Redwire during the second quarter worth $32,652,000. Finally, UBS Group AG grew its position in shares of Redwire by 140.8% in the fourth quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after purchasing an additional 1,192,885 shares during the period. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.