Redwire (NYSE:RDW) Stock Price Down 11% After Insider Selling

Redwire Corporation (NYSE:RDW)’s stock price dropped 11% on Wednesday after an insider sold shares in the company. The stock traded as low as $9.57 and last traded at $10.02. Approximately 28,971,130 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 34,791,758 shares. The stock had previously closed at $11.26.

Specifically, Director Ae Red Holdings, Llc sold 1,312,126 shares of Redwire stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $11.12, for a total value of $14,590,841.12. Following the completion of the transaction, the director owned 49,898,395 shares of the company’s stock, valued at $554,870,152.40. This trade represents a 2.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ae Red Holdings, Llc sold 1,550,179 shares of the company’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $12.65, for a total transaction of $19,609,764.35. Following the completion of the sale, the director directly owned 51,210,521 shares in the company, valued at approximately $647,813,090.65. The trade was a 2.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other Redwire news, Director Ae Red Holdings, Llc sold 3,932,686 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $12.80, for a total transaction of $50,338,380.80. Following the transaction, the director owned 52,760,700 shares of the company’s stock, valued at $675,336,960. The trade was a 6.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

RDW has been the topic of a number of recent analyst reports. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Thursday, January 22nd. Roth Mkm reiterated a “buy” rating and issued a $20.00 price objective on shares of Redwire in a research note on Wednesday, January 28th. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Redwire in a report on Tuesday, December 23rd. Finally, Bank of America decreased their target price on shares of Redwire from $9.00 to $6.00 and set an “underperform” rating on the stock in a report on Wednesday, November 19th. Six equities research 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $13.75.

Redwire Stock Performance

The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -3.16 and a beta of 2.45. 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 stock’s 50-day moving average is $8.86 and its 200-day moving average is $9.07.

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

Hedge Funds Weigh In On Redwire

A number of institutional investors and hedge funds have recently bought and sold shares of RDW. AQR Capital Management LLC boosted its stake in shares of Redwire by 125.0% during the first quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock valued at $426,000 after purchasing an additional 28,576 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Redwire by 352.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after buying an additional 276,814 shares during the period. Strs Ohio bought a new stake in Redwire during the 1st quarter worth approximately $69,000. Ameritas Advisory Services LLC acquired a new position in Redwire in the 2nd quarter valued at approximately $54,000. Finally, Tcfg Wealth Management LLC raised its stake in shares of Redwire by 25.9% during the second quarter. Tcfg Wealth Management LLC now owns 25,265 shares of the company’s stock valued at $412,000 after acquiring an additional 5,200 shares during the last quarter. 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.