Redwire (NYSE:RDW) Trading Down 5.4% – What’s Next?

Redwire Corporation (NYSE:RDW) shares traded down 5.4% during mid-day trading on Thursday . The company traded as low as $10.11 and last traded at $10.7670. 27,075,579 shares traded hands during trading, a decline of 16% from the average daily volume of 32,233,645 shares. The stock had previously closed at $11.38.

Wall Street Analyst Weigh In

RDW has been the topic of several analyst reports. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Jefferies Financial Group upgraded shares of Redwire to a “hold” rating in a research report on Wednesday, June 10th. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.44.

Redwire Stock Up 0.6%

The company has a market cap of $2.59 billion, a P/E ratio of -4.05 and a beta of 2.92. The stock’s 50-day moving average price is $14.23 and its 200-day moving average price is $11.01. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

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

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’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 of the company’s stock, valued at $23,142,960.12. This represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 13,211,433 shares of company stock worth $147,576,208 in the last ninety days. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC grew its holdings in shares of Redwire by 125.0% during the first quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock valued at $426,000 after buying an additional 28,576 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Redwire by 352.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock valued at $2,945,000 after acquiring an additional 276,814 shares in the last quarter. Strs Ohio acquired a new position in Redwire during the 1st quarter valued at about $69,000. Rhumbline Advisers boosted its stake in Redwire by 61.0% during the 2nd quarter. Rhumbline Advisers now owns 56,517 shares of the company’s stock valued at $921,000 after purchasing an additional 21,417 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Redwire by 57.6% during the 2nd quarter. Invesco Ltd. now owns 21,198 shares of the company’s stock worth $346,000 after purchasing an additional 7,750 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.