Redwire (NYSE:RDW) Trading Down 4.8% – Here’s What Happened

Redwire Corporation (NYSE:RDW) was down 4.8% during trading on Wednesday . The stock traded as low as $8.90 and last traded at $8.9650. 11,156,309 shares were traded during mid-day trading, a decline of 63% from the average session volume of 30,530,512 shares. The stock had previously closed at $9.42.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Wall Street Zen cut shares of Redwire from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. Jefferies Financial Group raised shares of Redwire to a “hold” rating in a research note on Wednesday, June 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Stock Up 3.2%

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37. The stock has a market capitalization of $2.21 billion, a PE ratio of -3.46 and a beta of 3.01. The company has a 50 day moving average price of $14.14 and a 200-day moving average price of $11.40.

Redwire (NYSE:RDW) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) EPS 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 analysts’ expectations of $105.94 million. Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The business’s revenue was up 57.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) EPS. As a group, analysts forecast that Redwire Corporation will post -0.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $21.48, for a total value of $22,995,736.20. Following the completion of the sale, the director directly owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Redwire

A number of institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its position in Redwire by 7,512.5% during the 1st quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after acquiring an additional 6,730,414 shares in the last quarter. State Street Corp raised its position in shares of Redwire by 61.1% in the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after acquiring an additional 1,786,038 shares in the last quarter. UBS Group AG lifted its stake in shares of Redwire by 140.8% in the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after purchasing an additional 1,192,885 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Redwire in the 4th quarter valued at approximately $7,676,000. Finally, Van ECK Associates Corp lifted its stake in shares of Redwire by 231.0% in the 4th quarter. Van ECK Associates Corp now owns 1,436,535 shares of the company’s stock valued at $10,918,000 after purchasing an additional 1,002,504 shares during the period. 8.10% of the stock is owned by institutional investors.

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.