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

by · The Markets Daily

Shares of Redwire Corporation (NYSE:RDWGet Free Report) dropped 5.4% during mid-day trading on Friday . The company traded as low as $7.51 and last traded at $7.3990. Approximately 2,028,907 shares were traded during trading, a decline of 56% from the average daily volume of 4,633,118 shares. The stock had previously closed at $7.82.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RDW. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Thursday, November 6th. Truist Financial cut their price objective on Redwire from $11.00 to $8.00 and set a “hold” rating for the company in a research note on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Canaccord Genuity Group decreased their price objective on shares of Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Six equities research analysts have rated the stock with 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.com, Redwire currently has an average rating of “Hold” and an average price target of $12.50.

Get Our Latest Stock Report on RDW

Redwire Trading Down 6.1%

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.05. The stock has a 50-day moving average price of $6.73 and a two-hundred day moving average price of $10.47. The stock has a market cap of $1.21 billion, a PE ratio of -2.33 and a beta of 2.48.

Insiders Place Their Bets

In other Redwire news, EVP Aaron Michael Futch purchased 18,410 shares of Redwire stock in a transaction that occurred on Friday, November 14th. The shares were bought at an average price of $5.45 per share, for a total transaction of $100,334.50. Following the completion of the transaction, the executive vice president owned 88,704 shares of the company’s stock, valued at approximately $483,436.80. This trade represents a 26.19% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Chris Edmunds acquired 5,500 shares of the stock in a transaction on Friday, November 14th. The shares were acquired at an average price of $5.46 per share, with a total value of $30,030.00. Following the transaction, the chief accounting officer directly owned 107,441 shares of the company’s stock, valued at $586,627.86. The trade was a 5.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 56,065 shares of company stock valued at $330,047 in the last quarter. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Redwire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AE Industrial Partners LP boosted its stake in Redwire by 7.1% during the third quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock worth $823,472,000 after buying an additional 6,101,959 shares during the period. Vanguard Group Inc. grew its stake in Redwire by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock worth $29,153,000 after acquiring an additional 91,045 shares in the last quarter. Voya Investment Management LLC purchased a new stake in Redwire in the third quarter worth about $20,372,000. Hood River Capital Management LLC bought a new stake in Redwire during the second quarter valued at about $36,206,000. Finally, Cooper Creek Partners Management LLC acquired a new position in Redwire during the 2nd quarter valued at about $32,652,000. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

Redwire Company Profile

(Get Free Report)

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.

Further Reading