Redwire (NYSE:RDW) Shares Down 12.5% – Time to Sell?
by Mitch Edgeman · The Markets DailyRedwire Corporation (NYSE:RDW – Get Free Report) was down 12.5% on Monday . The company traded as low as $10.68 and last traded at $10.95. Approximately 37,787,802 shares were traded during mid-day trading, an increase of 26% from the average daily volume of 29,976,328 shares. The stock had previously closed at $12.52.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the company. Canaccord Genuity Group decreased their target price on Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Roth Mkm reaffirmed a “buy” rating and set a $15.00 price objective on shares of Redwire in a report on Thursday, November 6th. Bank of America lowered their target price on shares of Redwire from $9.00 to $6.00 and set an “underperform” rating on the stock in a report on Wednesday, November 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research report on Thursday. Finally, Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.13.
Check Out Our Latest Report on RDW
Redwire Price Performance
The business’s 50 day simple moving average is $8.02 and its 200 day simple moving average is $9.31. The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20.
Redwire (NYSE:RDW – Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.15). Redwire had a negative return on equity of 16.24% and a negative net margin of 70.32%.The company had revenue of $103.43 million during the quarter, compared to analysts’ expectations of $132.05 million. As a group, research analysts expect that Redwire Corporation will post -0.85 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director Ae Red Holdings, Llc sold 12,656,683 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $10.51, for a total value of $133,021,738.33. Following the completion of the sale, the director owned 61,541,253 shares in the company, valued at approximately $646,798,569.03. This trade represents a 17.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Chris Edmunds purchased 5,500 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were purchased at an average cost of $5.46 per share, with a total value of $30,030.00. Following the completion of the purchase, the chief accounting officer owned 107,441 shares in the company, valued at $586,627.86. This trade represents a 5.40% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 56,065 shares of company stock valued at $330,047 and have sold 23,953,093 shares valued at $252,001,857. 2.60% of the stock is owned by insiders.
Institutional Trading of Redwire
Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in shares of Redwire by 4.4% during the fourth quarter. Farther Finance Advisors LLC now owns 20,897 shares of the company’s stock valued at $159,000 after buying an additional 877 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Redwire by 32.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after acquiring an additional 1,533 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in Redwire by 10.4% during the 2nd quarter. Vontobel Holding Ltd. now owns 18,507 shares of the company’s stock valued at $302,000 after acquiring an additional 1,751 shares during the period. Jones Financial Companies Lllp grew its position in Redwire by 24.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 12,617 shares of the company’s stock valued at $111,000 after acquiring an additional 2,442 shares during the last quarter. Finally, Huntleigh Advisors Inc. increased its stake in Redwire by 4.2% in the third quarter. Huntleigh Advisors Inc. now owns 61,837 shares of the company’s stock worth $556,000 after purchasing an additional 2,488 shares during the period. 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.