Redwire (NYSE:RDW) Stock Price Down 6.1% – Should You Sell?

Redwire Corporation (NYSE:RDW) fell 6.1% during trading on Friday . The stock traded as low as $8.65 and last traded at $8.7110. 13,235,995 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 30,286,074 shares. The stock had previously closed at $9.28.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RDW. Truist Financial raised shares of Redwire to a “strong-buy” rating in a report on Friday, May 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. Jefferies Financial Group upgraded shares of Redwire to a “hold” rating in a research report on Wednesday, June 10th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Finally, Canaccord Genuity Group boosted their price objective on Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Redwire presently has an average rating of “Moderate Buy” and an average price target of $15.44.

Redwire Price Performance

The stock’s fifty day moving average price is $14.03 and its 200-day moving average price is $11.38. The firm has a market cap of $2.08 billion, a PE ratio of -3.25 and a beta of 3.01. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37.

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 the consensus estimate of ($0.16) by ($0.24). Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The business had revenue of $96.97 million during the quarter, compared to analysts’ expectations of $105.94 million. During the same period in the prior year, the business posted ($0.09) earnings per share. The business’s quarterly revenue was up 57.9% on a year-over-year basis. As a group, equities analysts expect that Redwire Corporation will post -0.81 EPS for the current fiscal year.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the transaction, the director directly owned 1,077,419 shares in the company, valued at $23,142,960.12. The trade was a 49.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in shares of Redwire by 7,512.5% in the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after purchasing an additional 6,730,414 shares during the period. State Street Corp raised its stake in Redwire by 61.1% during the fourth 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 during the period. Vanguard Group Inc. boosted its holdings in Redwire by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock valued at $29,153,000 after purchasing an additional 91,045 shares during the last quarter. UBS Group AG boosted its holdings in Redwire by 140.8% in the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after purchasing an additional 1,192,885 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Redwire by 46.9% in the 4th quarter. Geode Capital Management LLC now owns 1,764,643 shares of the company’s stock valued at $13,413,000 after buying an additional 563,259 shares during the period. Hedge funds and other institutional investors own 8.10% of the company’s stock.

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.