Redwire (NYSE:RDW) Trading Down 7.5% After Insider Selling

Redwire Corporation (NYSE:RDW)’s stock price was down 7.5% on Monday following insider selling activity. The stock traded as low as $10.83 and last traded at $10.8710. Approximately 28,378,744 shares were traded during trading, a decline of 19% from the average daily volume of 35,232,250 shares. The stock had previously closed at $11.75.

Specifically, Director Ae Red Holdings, Llc sold 3,932,686 shares of Redwire stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $12.80, for a total value of $50,338,380.80. Following the completion of the sale, the director directly owned 52,760,700 shares in the company, valued at $675,336,960. This trade represents a 6.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ae Red Holdings, Llc sold 4,847,867 shares of the company’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $13.29, for a total transaction of $64,428,152.43. Following the transaction, the director owned 56,693,386 shares in the company, valued at approximately $753,455,099.94. The trade was a 7.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analyst Weigh In

RDW has been the subject of a number of recent research reports. KeyCorp began coverage on shares of Redwire in a research note on Thursday, December 18th. They set a “sector weight” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Thursday, January 22nd. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Roth Mkm restated a “buy” rating and set a $20.00 target price on shares of Redwire in a research report on Wednesday, January 28th. Finally, Industrial Alliance Securities set a $9.00 price target on shares of Redwire in a research report on Thursday, November 6th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Redwire has a consensus rating of “Hold” and an average target price of $13.75.

Redwire Stock Down 7.5%

The firm’s 50-day moving average is $8.63 and its 200 day moving average is $9.19. The firm has a market capitalization of $1.80 billion, a P/E ratio of -3.43 and a beta of 2.44. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.05 and a current ratio of 1.41.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.15). Redwire had a negative net margin of 70.32% and a negative return on equity of 16.24%. The business had revenue of $103.43 million during the quarter, compared to analyst estimates of $132.05 million. As a group, equities research analysts predict that Redwire Corporation will post -0.85 EPS for the current fiscal year.

Institutional Trading of Redwire

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sigma Planning Corp boosted its position in Redwire by 50.3% during the fourth quarter. Sigma Planning Corp now owns 17,079 shares of the company’s stock valued at $130,000 after purchasing an additional 5,715 shares during the last quarter. Pekin Hardy Strauss Inc. bought a new stake in shares of Redwire during the 4th quarter worth approximately $76,000. Wealthfront Advisers LLC acquired a new stake in shares of Redwire in the 4th quarter valued at approximately $90,000. UBS Group AG grew its stake 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 buying an additional 1,192,885 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in Redwire by 36.6% during the fourth quarter. Arizona State Retirement System now owns 20,163 shares of the company’s stock worth $153,000 after buying an additional 5,397 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.