Redwire (NYSE:RDW) Shares Down 2.2% – What’s Next?

Redwire Corporation (NYSE:RDW) fell 2.2% on Wednesday . The stock traded as low as $11.88 and last traded at $11.9560. Approximately 21,750,581 shares changed hands during trading, a decline of 32% from the average daily volume of 32,173,068 shares. The stock had previously closed at $12.23.

Wall Street Analysts Forecast Growth

RDW has been the subject of a number of research analyst reports. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Truist Financial raised Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Wall Street Zen raised Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Jefferies Financial Group upgraded Redwire to a “hold” rating in a report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Redwire presently has an average rating of “Moderate Buy” and an average target price of $15.44.

Redwire Stock Performance

The stock has a 50 day moving average of $14.33 and a 200 day moving average of $11.17. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of -4.22 and a beta of 3.01. 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 released its earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (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 the consensus estimate of $105.94 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The business’s revenue was up 57.9% on a year-over-year basis. As a group, analysts anticipate that Redwire Corporation will post -0.76 EPS for the current fiscal year.

Insider Activity at Redwire

In other 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 value of $22,995,736.20. Following the completion of the transaction, the director owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. This represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold 13,211,433 shares of company stock worth $147,576,208 over the last quarter. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RDW. Militia Capital Management LLC acquired a new position in shares of Redwire in the first quarter worth approximately $281,000. Parallel Advisors LLC acquired a new position in shares of Redwire during the first quarter valued at about $28,000. Bank of America Corp DE grew its stake in shares of Redwire by 7,512.5% in the 1st quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after buying an additional 6,730,414 shares during the period. Janus Henderson Group PLC increased its position in Redwire by 157.5% in the 1st quarter. Janus Henderson Group PLC now owns 54,600 shares of the company’s stock valued at $463,000 after buying an additional 33,400 shares in the last quarter. Finally, Amundi increased its position in Redwire by 55.4% in the 1st quarter. Amundi now owns 40,197 shares of the company’s stock valued at $342,000 after buying an additional 14,337 shares in the last quarter. 8.10% of the stock is owned by institutional investors.

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.