Redwire (NYSE:RDW) Trading Down 4.5% – Time to Sell?

Redwire Corporation (NYSE:RDW) shares traded down 4.5% during mid-day trading on Wednesday . The company traded as low as $11.10 and last traded at $11.2360. 12,555,332 shares changed hands during trading, a decline of 53% from the average daily volume of 26,726,738 shares. The stock had previously closed at $11.76.

Analysts Set New Price Targets

A number of brokerages have issued reports on RDW. Bank of America upped their price objective 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 boosted their target price on shares of Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Guggenheim assumed coverage on Redwire in a research report on Monday, September 14th. They set a “neutral” rating for the company. Finally, Jefferies Financial Group set a $15.00 target price on Redwire in a research note on Sunday, August 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Redwire currently has a consensus rating of “Hold” and a consensus target price of $14.69.

Redwire Trading Down 4.5%

The company has a market capitalization of $2.81 billion, a PE ratio of -7.70 and a beta of 3.08. The stock has a fifty day moving average of $10.79 and a two-hundred day moving average of $11.70. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03.

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

Institutional Investors Weigh In On Redwire

Several institutional investors have recently bought and sold shares of the stock. Bouchey Financial Group Ltd. bought a new stake in Redwire in the 2nd quarter worth $141,000. Tidal Investments LLC purchased a new position in shares of Redwire in the second quarter valued at about $7,717,000. Integrated Wealth Concepts LLC bought a new position in shares of Redwire during the second quarter valued at about $635,000. IFP Advisors Inc raised its stake in shares of Redwire by 3,662.5% during the second quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock valued at $44,000 after acquiring an additional 3,516 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Redwire by 160.5% during the second quarter. Allworth Financial LP now owns 7,341 shares of the company’s stock worth $90,000 after purchasing an additional 4,523 shares during the period. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

Redwire Company Profile

Redwire Corporation is a space infrastructure and technology company that develops products and services for government, commercial and international space customers. Its capabilities support the design, manufacture and operation of spacecraft, space systems and related infrastructure across missions in low Earth orbit and beyond.

The company’s offerings include digital engineering and mission-support services, spacecraft platforms, avionics, sensors, power systems, deployable structures and solar arrays.