Redwire (NYSE:RDW) Shares Down 4.1% – What’s Next?

Redwire Corporation (NYSE:RDW) fell 4.1% during trading on Tuesday . The company traded as low as $10.19 and last traded at $10.26. Approximately 8,083,941 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 27,939,064 shares. The stock had previously closed at $10.70.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RDW. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research report on Friday, July 17th. Cantor Fitzgerald boosted their price target on Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a research report on Sunday, August 9th. Finally, Canaccord Genuity Group increased their price target on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.69.

Redwire Trading Down 4.1%

The stock has a market capitalization of $2.56 billion, a P/E ratio of -7.03 and a beta of 3.05. The stock’s fifty day moving average price is $10.84 and its 200 day moving average price is $11.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48.

Redwire (NYSE:RDW) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.07. The firm had revenue of $117.07 million for the quarter, compared to analyst estimates of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. Research analysts forecast that Redwire Corporation will post -0.68 earnings per share for the current year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction dated 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 completion of the sale, the director owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. The trade was a 49.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RDW. AQR Capital Management LLC boosted its position in Redwire by 125.0% in the first quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock valued at $426,000 after buying an additional 28,576 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Redwire by 352.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after buying an additional 276,814 shares during the last quarter. Strs Ohio acquired a new stake in Redwire during the 1st quarter valued at approximately $69,000. Rhumbline Advisers boosted its holdings in shares of Redwire by 61.0% in the 2nd quarter. Rhumbline Advisers now owns 56,517 shares of the company’s stock valued at $921,000 after acquiring an additional 21,417 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Redwire by 57.6% in the 2nd quarter. Invesco Ltd. now owns 21,198 shares of the company’s stock valued at $346,000 after acquiring an additional 7,750 shares during the last quarter. 8.10% of the stock is owned by institutional investors and hedge funds.

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.