Redwire (NYSE:RDW) Sets New 1-Year Low – Here’s What Happened

Redwire Corporation (NYSE:RDW)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $5.15 and last traded at $5.4450, with a volume of 4887164 shares trading hands. The stock had previously closed at $5.47.

Analysts Set New Price Targets

RDW has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $22.00 price objective (down previously from $26.00) on shares of Redwire in a research note on Friday, August 8th. Canaccord Genuity Group lowered their price target on Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. B. Riley cut their price objective on Redwire from $25.00 to $20.00 and set a “buy” rating for the company in a report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Redwire from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 9th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.25.

Redwire Price Performance

The stock has a 50-day moving average of $8.16 and a two-hundred day moving average of $11.72. The firm has a market cap of $899.25 million, a price-to-earnings ratio of -1.72 and a beta of 2.46. The company has a current ratio of 1.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20.

Insider Activity

In other news, EVP Aaron Michael Futch acquired 18,410 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was purchased at an average price of $5.45 per share, with a total value of $100,334.50. Following the purchase, the executive vice president owned 88,704 shares of the company’s stock, valued at approximately $483,436.80. This trade represents a 26.19% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of Redwire stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $7.83, for a total transaction of $86,130,000.00. The SEC filing for this sale provides additional information. In the last three months, insiders have purchased 56,065 shares of company stock valued at $330,047. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Hedge funds and other institutional investors have recently modified their holdings of the business. Gabelli Funds LLC grew its holdings in shares of Redwire by 7.4% during the 1st quarter. Gabelli Funds LLC now owns 18,871 shares of the company’s stock valued at $156,000 after acquiring an additional 1,300 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Redwire by 32.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after acquiring an additional 1,533 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Redwire by 10.4% during the second quarter. Vontobel Holding Ltd. now owns 18,507 shares of the company’s stock valued at $302,000 after purchasing an additional 1,751 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Redwire by 24.0% in the third quarter. Jones Financial Companies Lllp now owns 12,617 shares of the company’s stock valued at $111,000 after purchasing an additional 2,442 shares in the last quarter. Finally, Huntleigh Advisors Inc. increased its position in Redwire by 4.2% in the 3rd quarter. Huntleigh Advisors Inc. now owns 61,837 shares of the company’s stock worth $556,000 after purchasing an additional 2,488 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

About Redwire

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.