Redwire (NYSE:RDW) Shares Down 4.8% – Time to Sell?

Redwire Corporation (NYSE:RDW) shares fell 4.8% during trading on Tuesday . The stock traded as low as $11.03 and last traded at $11.5820. 27,410,104 shares traded hands during mid-day trading, an increase of 10% from the average session volume of 24,818,234 shares. The stock had previously closed at $12.16.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RDW. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Roth Mkm reiterated a “buy” rating and issued a $20.00 target price on shares of Redwire in a report on Wednesday, January 28th. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a report on Friday, May 1st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $13.00 target price on shares of Redwire in a report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.22.

Redwire Stock Performance

The firm’s fifty day moving average price is $9.54 and its 200-day moving average price is $8.68. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market cap of $2.22 billion, a P/E ratio of -4.32 and a beta of 2.41.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). The business had revenue of $96.97 million during the quarter, compared to the consensus estimate of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business’s revenue was up 57.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.09) EPS. As a group, research analysts forecast that Redwire Corporation will post -0.49 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ae Red Holdings, Llc sold 977,887 shares of the company’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $10.57, for a total value of $10,336,265.59. Following the sale, the director owned 21,494,349 shares of the company’s stock, valued at $227,195,268.93. The trade was a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 23,327,795 shares of company stock valued at $228,806,188 over the last quarter. Insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RDW. Parallel Advisors LLC bought a new stake in Redwire in the first quarter valued at about $28,000. KBC Group NV bought a new stake in Redwire in the first quarter valued at about $29,000. Sunbelt Securities Inc. increased its stake in Redwire by 601.1% in the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after acquiring an additional 3,396 shares during the period. CWM LLC increased its stake in Redwire by 1,725.0% in the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after acquiring an additional 3,864 shares during the period. Finally, Rockefeller Capital Management L.P. increased its stake in Redwire by 1,054.0% in the fourth 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 period. Institutional investors own 8.10% of the company’s stock.

About Redwire

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.