Redwire (NYSE:RDW) Shares Down 2.3% – Time to Sell?

Shares of Redwire Corporation (NYSE:RDW) fell 2.3% during mid-day trading on Friday . The stock traded as low as $10.59 and last traded at $10.6250. 11,863,244 shares changed hands during trading, a decline of 57% from the average daily volume of 27,294,105 shares. The stock had previously closed at $10.87.

Wall Street Analyst Weigh In

RDW has been the topic of several recent analyst reports. Bank of America upped their price target on Redwire from $7.00 to $8.00 and gave the company an “underperform” rating in a research note on Monday, August 31st. Cantor Fitzgerald raised their price objective on Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research report on Friday, July 17th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.69.

Redwire Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -7.28 and a beta of 3.08. The stock has a 50 day moving average price of $10.69 and a two-hundred day moving average price of $11.58.

Redwire (NYSE:RDW) last announced its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. The company had revenue of $117.07 million during the quarter, compared to analysts’ expectations of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. As a group, analysts expect that Redwire Corporation will post -0.7 EPS for the current year.

Hedge Funds Weigh In On Redwire

Institutional investors have recently modified their holdings of the business. Deutsche Bank AG purchased a new position in Redwire in the second quarter valued at $2,529,000. Van ECK Associates Corp boosted its position in shares of Redwire by 173.0% during the 2nd quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company’s stock worth $83,791,000 after acquiring an additional 4,341,424 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Redwire in the 2nd quarter valued at about $6,770,000. Trivest Advisors Ltd purchased a new stake in Redwire during the first quarter worth approximately $5,398,000. Finally, BlackRock Inc. acquired a new position in Redwire in the second quarter valued at approximately $196,514,000. 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.