Redwire (NYSE:RDW) Shares Down 5.6% – Here’s What Happened

Redwire Corporation (NYSE:RDW)’s stock price traded down 5.6% on Friday . The company traded as low as $21.67 and last traded at $24.4490. 64,175,830 shares were traded during trading, an increase of 114% from the average session volume of 29,945,961 shares. The stock had previously closed at $25.90.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RDW shares. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $13.00 target price on shares of Redwire in a research report on Sunday, May 10th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Redwire currently has an average rating of “Moderate Buy” and an average price target of $14.22.

Redwire Price Performance

The stock’s 50-day moving average price is $11.43 and its 200 day moving average price is $9.52. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of -9.12 and a beta of 2.41. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08.

Redwire (NYSE:RDW) last issued its earnings results on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business had revenue of $96.97 million during the quarter, compared to analyst estimates of $105.94 million. During the same quarter last year, the company earned ($0.09) earnings per share. Redwire’s quarterly revenue was up 57.9% on a year-over-year basis. Equities research analysts expect that Redwire Corporation will post -0.7 earnings per share for the current fiscal year.

Insider Transactions at Redwire

In related news, Director Ae Red Holdings, Llc sold 977,887 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $10.57, for a total transaction of $10,336,265.59. Following the completion of the sale, the director directly owned 21,494,349 shares in the company, valued at approximately $227,195,268.93. This trade represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 23,327,795 shares of company stock worth $228,806,188 in the last ninety days. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Redwire

Hedge funds and other institutional investors have recently bought and sold shares of the company. Andar Capital Management HK Ltd boosted its stake in Redwire by 76.5% during the third quarter. Andar Capital Management HK Ltd now owns 300,000 shares of the company’s stock worth $2,697,000 after buying an additional 130,000 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Redwire by 2,556.0% in the third quarter. JPMorgan Chase & Co. now owns 577,271 shares of the company’s stock valued at $5,190,000 after purchasing an additional 555,536 shares during the period. Capelight Capital Asset Management LP acquired a new stake in Redwire in the fourth quarter valued at approximately $1,330,000. AE Industrial Partners LP raised its holdings in Redwire by 7.1% in the third quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after acquiring an additional 6,101,959 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Redwire in the fourth quarter valued at approximately $7,676,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.