Redwire (NYSE:RDW) Stock Price Down 4.5% – What’s Next?

by · The Markets Daily

Shares of Redwire Corporation (NYSE:RDW – Get Free Report) dropped 4.5% on Tuesday. The company traded as low as $10.65 and last traded at $10.6950. Approximately 13,646,826 shares were traded during mid-day trading, a decline of 48% from the average session volume of 26,438,711 shares. The stock had previously closed at $11.20.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RDW shares. Cantor Fitzgerald boosted their target price on shares of Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Bank of America lifted their price target on Redwire from $7.00 to $8.00 and gave the company an “underperform” rating in a report on Monday, August 31st. Canaccord Genuity Group boosted their price objective on Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Wall Street Zen raised Redwire from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group set a $15.00 target price on Redwire in a research report on Sunday, August 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Redwire has an average rating of “Hold” and an average target price of $14.69.

Read Our Latest Research Report on RDW

Redwire Price Performance

The company has a market capitalization of $2.67 billion, a P/E ratio of -7.33 and a beta of 3.08. 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 business’s 50-day simple moving average is $11.00 and its 200 day simple moving average is $11.76.

Redwire (NYSE:RDW – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%.The firm had revenue of $117.07 million during the quarter, compared to analyst estimates of $107.10 million. As a group, sell-side analysts anticipate that Redwire Corporation will post -0.7 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ae Red Holdings, Llc sold 929,435 shares of Redwire stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $11.34, for a total transaction of $10,539,792.90. Following the transaction, the director directly owned 147,984 shares of the company’s stock, valued at $1,678,138.56. The trade was a 86.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of Redwire

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC acquired a new stake in Redwire during the first quarter valued at approximately $28,000. KBC Group NV bought a new position in shares of Redwire in the first quarter valued at $29,000. Rockefeller Capital Management L.P. boosted its stake in shares of Redwire by 1,054.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after acquiring an additional 3,668 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Redwire by 3,662.5% in the 2nd quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock worth $44,000 after acquiring an additional 3,516 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Redwire during the second quarter worth $57,000. 8.10% of the stock is currently owned by institutional investors.

About Redwire

(Get Free Report)

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.

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