Redwire (NYSE:RDW) Trading Down 5.3% – What’s Next?

Redwire Corporation (NYSE:RDW) shares dropped 5.3% during trading on Monday . The stock traded as low as $11.38 and last traded at $11.3880. 10,885,981 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 28,637,221 shares. The stock had previously closed at $12.02.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Cantor Fitzgerald upped their price target on shares of Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Redwire currently has a consensus rating of “Hold” and a consensus price target of $14.44.

Redwire Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92. The stock’s 50 day simple moving average is $11.08 and its two-hundred day simple moving average is $11.41. The firm has a market capitalization of $2.87 billion, a PE ratio of -7.87 and a beta of 3.05.

Redwire (NYSE:RDW) last issued its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.07. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%.The business had revenue of $117.07 million for the quarter, compared to analysts’ expectations of $107.10 million. On average, sell-side analysts forecast that Redwire Corporation will post -0.68 EPS for the current year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total value of $22,995,736.20. Following the completion of the sale, the director directly owned 1,077,419 shares in the company, valued at $23,142,960.12. This represents a 49.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RDW. Farther Finance Advisors LLC increased its position in shares of Redwire by 4.4% during the 4th 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 last quarter. Parvin Asset Management LLC raised its holdings 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 buying an additional 1,150 shares during the period. Tower Research Capital LLC TRC lifted its position in Redwire by 32.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock valued at $102,000 after buying an additional 1,533 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Redwire by 12.0% in the second quarter. BNP Paribas Financial Markets now owns 30,396 shares of the company’s stock valued at $495,000 after buying an additional 3,248 shares during the last quarter. Finally, Parallel Advisors LLC acquired a new position in Redwire in the first quarter valued at about $28,000. 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.