Redwire (NYSE:RDW) Stock Price Down 6% – Here’s What Happened

Shares of Redwire Corporation (NYSE:RDW) were down 6% on Monday . The stock traded as low as $9.40 and last traded at $9.5740. Approximately 17,243,478 shares traded hands during trading, a decline of 45% from the average session volume of 31,280,246 shares. The stock had previously closed at $10.18.

Wall Street Analysts Forecast Growth

RDW has been the topic of several recent research reports. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Jefferies Financial Group upgraded shares of Redwire to a “hold” rating in a research note on Wednesday, June 10th. Canaccord Genuity Group lifted their price objective on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Redwire presently has an average rating of “Moderate Buy” and an average price target of $15.44.

Redwire Stock Performance

The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $2.29 billion, a P/E ratio of -3.57 and a beta of 3.01. The company’s 50 day moving average is $14.44 and its 200-day moving average is $11.31.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $96.97 million during the quarter, compared to the consensus estimate of $105.94 million. During the same period last year, the firm posted ($0.09) earnings per share. The company’s revenue for the quarter was up 57.9% on a year-over-year basis. As a group, equities analysts anticipate that Redwire Corporation will post -0.81 EPS for the current year.

Insider Buying and Selling

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the transaction, the director directly owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. This represents a 49.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 10,889,878 shares of company stock valued at $125,207,817. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

Hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in shares of Redwire by 4.4% during the fourth quarter. Farther Finance Advisors LLC now owns 20,897 shares of the company’s stock worth $159,000 after purchasing an additional 877 shares during the period. Parvin Asset Management LLC grew its position in Redwire by 6.9% in the 1st quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock valued at $152,000 after purchasing an additional 1,150 shares during the period. Tower Research Capital LLC TRC increased its stake in Redwire by 32.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock valued at $102,000 after purchasing an additional 1,533 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Redwire by 12.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 30,396 shares of the company’s stock valued at $495,000 after purchasing an additional 3,248 shares in the last quarter. Finally, Parallel Advisors LLC acquired a new position in Redwire during the first quarter worth $28,000. Institutional investors 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.