Redwire (NYSE:RDW) Shares Down 0.5%

Shares of Redwire Co. (NYSE:RDW) traded down 0.5% on Tuesday . The company traded as low as $3.78 and last traded at $3.78. 69,247 shares traded hands during trading, a decline of 68% from the average session volume of 218,879 shares. The stock had previously closed at $3.80.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald assumed coverage on Redwire in a research note on Friday, February 2nd. They issued an “overweight” rating and a $5.00 price target on the stock.

Redwire Stock Performance

The firm has a market capitalization of $247.89 million, a P/E ratio of -5.18 and a beta of 1.74. The firm has a 50-day moving average of $3.69 and a 200-day moving average of $3.12.

Redwire (NYSE:RDW) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.10). The firm had revenue of $63.49 million during the quarter, compared to analysts’ expectations of $60.97 million. On average, research analysts forecast that Redwire Co. will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Redwire

A hedge fund recently raised its stake in Redwire stock. LA Financiere DE L Echiquier increased its stake in Redwire Co. (NYSE:RDW) by 10.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 450,000 shares of the company’s stock after purchasing an additional 43,000 shares during the quarter. LA Financiere DE L Echiquier owned approximately 0.69% of Redwire worth $1,282,000 at the end of the most recent quarter. 8.10% of the stock is owned by institutional investors and hedge funds.

About Redwire

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.