Redwire (NYSE:RDW) Shares Down 1.7% – Here’s What Happened

by · The Markets Daily

Shares of Redwire Corporation (NYSE:RDWGet Free Report) dropped 1.7% on Monday . The company traded as low as $10.53 and last traded at $10.69. Approximately 10,809,980 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 28,059,027 shares. The stock had previously closed at $10.87.

Analyst Ratings Changes

RDW has been the subject of a number of recent research reports. Cantor Fitzgerald lifted their price objective on shares of Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Canaccord Genuity Group lifted their price target on Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.69.

Get Our Latest Stock Report on Redwire

Redwire Stock Down 1.7%

The company has a market cap of $2.67 billion, a PE ratio of -7.32 and a beta of 3.05. The company’s 50 day moving average is $10.89 and its 200 day moving average is $11.44. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03.

Redwire (NYSE:RDWGet Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.07. The company had revenue of $117.07 million during the quarter, compared to analysts’ expectations of $107.10 million. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. As a group, analysts predict that Redwire Corporation will post -0.68 earnings per share for the current fiscal year.

Insider Activity at Redwire

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Redwire

Several institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC acquired a new position in shares of Redwire during the 1st quarter worth approximately $28,000. KBC Group NV purchased a new position in Redwire during the first quarter worth approximately $29,000. Sunbelt Securities Inc. raised its holdings in shares of Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after acquiring an additional 3,396 shares during the period. CWM LLC raised its holdings in shares of Redwire by 1,725.0% during the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after acquiring an additional 3,864 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its position 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 valued at $31,000 after acquiring an additional 3,668 shares during the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

About Redwire

(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.

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