Redwire (NYSE:RDW) Shares Down 7% – What’s Next?

Redwire Corporation (NYSE:RDW) fell 7% on Friday . The company traded as low as $10.64 and last traded at $10.7470. Approximately 31,571,689 shares traded hands during mid-day trading, an increase of 17% from the average session volume of 26,938,428 shares. The stock had previously closed at $11.55.

Wall Street Analyst Weigh In

RDW has been the topic of a number of recent research reports. Cantor Fitzgerald boosted their target price on shares of Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a report on Thursday, August 6th. Jefferies Financial Group set a $15.00 price objective on Redwire in a research note on Sunday, August 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research report on Friday, July 17th. Finally, Wall Street Zen raised shares of Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Redwire currently has an average rating of “Hold” and a consensus target price of $14.69.

Redwire Stock Performance

The stock’s 50-day moving average price is $10.70 and its 200-day moving average price is $11.65. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.69 billion, a P/E ratio of -7.36 and a beta of 3.08.

Redwire (NYSE:RDW) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $117.07 million for the quarter, compared to analyst estimates of $107.10 million. As a group, equities analysts expect that Redwire Corporation will post -0.7 EPS for the current year.

Institutional Investors Weigh In On Redwire

A number of hedge funds have recently made changes to their positions in the business. Bouchey Financial Group Ltd. bought a new stake in Redwire during the 2nd quarter valued at $141,000. Tidal Investments LLC bought a new stake in shares of Redwire during the second quarter valued at about $7,717,000. Integrated Wealth Concepts LLC acquired a new position in Redwire during the 2nd quarter valued at about $635,000. IFP Advisors Inc raised its position in shares of Redwire by 3,662.5% during the 2nd quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock worth $44,000 after buying an additional 3,516 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of Redwire by 160.5% during the 2nd quarter. Allworth Financial LP now owns 7,341 shares of the company’s stock worth $90,000 after buying an additional 4,523 shares in the last quarter. Institutional investors own 8.10% of the company’s stock.

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.