Redwire (NYSE:RDW) Stock Falls 4.3% – Here’s Why

by · The Markets Daily

Redwire Corporation (NYSE:RDW – Get Free Report)’s share price fell 4.3% during trading on Monday. The company traded as low as $10.24 and last traded at $10.4110. 17,867,147 shares traded hands during trading, a decline of 32% from the average session volume of 26,185,902 shares. The stock had previously closed at $10.88.

Analysts Set New Price Targets

RDW has been the topic of a number of recent research reports. Jefferies Financial Group set a $15.00 target price on Redwire in a report on Sunday, August 9th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. 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 report on Wednesday, August 5th. Canaccord Genuity Group upped their target price on shares of Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, Guggenheim assumed coverage on shares of Redwire in a research report on Monday, September 14th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Redwire presently has a consensus rating of “Hold” and a consensus target price of $14.69.

Check Out Our Latest Analysis on RDW

Redwire Stock Down 4.3%

The firm has a market capitalization of $2.60 billion, a PE ratio of -7.13 and a beta of 3.12. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48. The company has a 50-day moving average price of $11.13 and a 200 day moving average price of $11.80.

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

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 929,435 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $11.34, for a total transaction of $10,539,792.90. Following the completion of the sale, the director directly owned 147,984 shares of the company’s stock, valued at $1,678,138.56. This trade represents a 86.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Redwire

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bouchey Financial Group Ltd. purchased a new position in Redwire during the second quarter valued at $141,000. Tidal Investments LLC purchased a new stake in Redwire in the 2nd quarter worth $7,717,000. Integrated Wealth Concepts LLC purchased a new stake in Redwire in the 2nd quarter worth $635,000. IFP Advisors Inc boosted its holdings in shares of Redwire by 3,662.5% during the 2nd quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock valued at $44,000 after purchasing an additional 3,516 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Redwire by 160.5% during the 2nd quarter. Allworth Financial LP now owns 7,341 shares of the company’s stock valued at $90,000 after purchasing an additional 4,523 shares during the last quarter. Institutional investors own 8.10% of the company’s stock.

About Redwire

(Get Free Report)

Redwire Corporation is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its work supports space exploration, national security, civil space programs and the growing commercial space economy.

The company’s offerings include spacecraft platforms, avionics, sensors, deployable structures, solar arrays, in-space manufacturing systems, robotic technologies and components designed for satellite and space station applications.

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