Redwire (NYSE:RDW) Shares Down 12.5% – Here’s Why

Redwire Corporation (NYSE:RDW) fell 12.5% during trading on Monday . The company traded as low as $10.68 and last traded at $10.95. 37,787,802 shares were traded during mid-day trading, an increase of 26% from the average session volume of 29,976,328 shares. The stock had previously closed at $12.52.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a report on Thursday. Cantor Fitzgerald decreased their price target on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Thursday, November 6th. Bank of America reduced their price objective on Redwire from $9.00 to $6.00 and set an “underperform” rating on the stock in a report on Wednesday, November 19th. Finally, KeyCorp assumed coverage on Redwire in a research report on Thursday, December 18th. They set a “sector weight” rating for the company. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.13.

Redwire Stock Performance

The firm has a 50 day simple moving average of $8.02 and a 200-day simple moving average of $9.31. The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.15). Redwire had a negative return on equity of 16.24% and a negative net margin of 70.32%.The firm had revenue of $103.43 million for the quarter, compared to the consensus estimate of $132.05 million. Sell-side analysts predict that Redwire Corporation will post -0.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Redwire news, CAO Chris Edmunds purchased 5,500 shares of the stock in a transaction on Friday, November 14th. The stock was acquired at an average price of $5.46 per share, with a total value of $30,030.00. Following the completion of the acquisition, the chief accounting officer owned 107,441 shares in the company, valued at $586,627.86. The trade was a 5.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ae Red Holdings, Llc sold 12,656,683 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $10.51, for a total value of $133,021,738.33. Following the sale, the director owned 61,541,253 shares in the company, valued at $646,798,569.03. The trade was a 17.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have bought 56,065 shares of company stock worth $330,047 and have sold 23,953,093 shares worth $252,001,857. Insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Institutional investors have recently bought and sold shares of the stock. AE Industrial Partners LP grew its position in Redwire by 7.1% during the 3rd quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock worth $823,472,000 after purchasing an additional 6,101,959 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Redwire by 2.9% during the third quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock valued at $29,153,000 after buying an additional 91,045 shares during the last quarter. Voya Investment Management LLC acquired a new position in shares of Redwire in the 3rd quarter valued at $20,372,000. Hood River Capital Management LLC acquired a new position in shares of Redwire in the 2nd quarter valued at $36,206,000. Finally, Cooper Creek Partners Management LLC purchased a new position in Redwire in the 2nd quarter worth $32,652,000. 8.10% of the stock is currently 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.