Redwire (NYSE:RDW) Stock Price Down 5.4% – Time to Sell?

Redwire Corporation (NYSE:RDW)’s share price fell 5.4% during mid-day trading on Thursday . The stock traded as low as $11.14 and last traded at $11.3220. Approximately 20,851,632 shares were traded during trading, a decline of 35% from the average session volume of 32,084,148 shares. The stock had previously closed at $11.97.

Analyst Ratings Changes

RDW has been the subject of a number of analyst reports. Canaccord Genuity Group lifted their target price on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Truist Financial raised Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Redwire currently has a consensus rating of “Moderate Buy” and an average target price of $15.44.

Redwire Stock Performance

The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of -4.22 and a beta of 3.01. The company has a 50 day moving average price of $14.31 and a 200 day moving average price of $11.14. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). The firm had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The firm’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same period last year, the company posted ($0.09) earnings per share. Equities research analysts predict that Redwire Corporation will post -0.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the transaction, the director owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 13,211,433 shares of company stock worth $147,576,208. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its position in Redwire by 7,512.5% in the 1st quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after acquiring an additional 6,730,414 shares in the last quarter. State Street Corp increased its holdings in Redwire by 61.1% during the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after purchasing an additional 1,786,038 shares in the last quarter. UBS Group AG increased its holdings in Redwire by 140.8% during the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock worth $15,503,000 after purchasing an additional 1,192,885 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Redwire in the fourth quarter worth approximately $7,676,000. Finally, Van ECK Associates Corp raised its stake in shares of Redwire by 231.0% in the fourth quarter. Van ECK Associates Corp now owns 1,436,535 shares of the company’s stock worth $10,918,000 after purchasing an additional 1,002,504 shares during the last quarter. 8.10% of the stock is owned by institutional investors.

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.