Redwire (NYSE:RDW) Trading Down 8.4% After Insider Selling

Redwire Corporation (NYSE:RDW) dropped 8.4% on Friday following insider selling activity. The stock traded as low as $11.41 and last traded at $11.73. Approximately 42,481,938 shares were traded during trading, an increase of 19% from the average daily volume of 35,603,438 shares. The stock had previously closed at $12.81.

Specifically, Director Ae Red Holdings, Llc sold 3,932,686 shares of the company’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $12.80, for a total transaction of $50,338,380.80. Following the completion of the sale, the director directly owned 52,760,700 shares in the company, valued at $675,336,960. This represents a 6.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ae Red Holdings, Llc sold 4,847,867 shares of Redwire stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $13.29, for a total value of $64,428,152.43. Following the completion of the transaction, the director directly owned 56,693,386 shares in the company, valued at approximately $753,455,099.94. This represents a 7.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RDW. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research report on Thursday, January 22nd. Truist Financial set a $13.00 target price on Redwire in a research report on Friday, January 9th. Cantor Fitzgerald lowered their price target on Redwire from $20.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Canaccord Genuity Group reduced their price objective on Redwire from $17.50 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Finally, Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Redwire currently has a consensus rating of “Hold” and a consensus price target of $13.75.

Redwire Trading Down 8.4%

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 has a market cap of $1.94 billion, a P/E ratio of -3.70 and a beta of 2.44. The business’s fifty day simple moving average is $8.50 and its 200 day simple moving average is $9.34.

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

Institutional Investors Weigh In On Redwire

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in Redwire by 125.0% during the 1st quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock worth $426,000 after purchasing an additional 28,576 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Redwire by 352.8% during the first quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after acquiring an additional 276,814 shares in the last quarter. Strs Ohio acquired a new stake in shares of Redwire during the first quarter worth $69,000. Ameritas Advisory Services LLC acquired a new stake in shares of Redwire during the second quarter worth $54,000. Finally, Tcfg Wealth Management LLC lifted its holdings in shares of Redwire by 25.9% in the second quarter. Tcfg Wealth Management LLC now owns 25,265 shares of the company’s stock valued at $412,000 after purchasing an additional 5,200 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.