Redwire (NYSE:RDW) Trading Down 3.1% – Time to Sell?

Shares of Redwire Corporation (NYSE:RDW) were down 3.1% during mid-day trading on Friday . The stock traded as low as $10.68 and last traded at $10.92. Approximately 9,701,842 shares traded hands during trading, a decline of 66% from the average session volume of 28,163,055 shares. The stock had previously closed at $11.27.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wall Street Zen raised Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Cantor Fitzgerald lifted their price target on Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a research note on Sunday, August 9th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.44.

Redwire Price Performance

The firm has a 50-day moving average of $10.96 and a 200 day moving average of $11.43. The company has a market capitalization of $2.73 billion, a PE ratio of -7.48 and a beta of 3.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48.

Redwire (NYSE:RDW) last issued its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. The business had revenue of $117.07 million during the quarter, compared to analyst estimates of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. As a group, research analysts anticipate that Redwire Corporation will post -0.68 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction on Thursday, June 11th. The stock was 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 owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. The trade was a 49.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RDW. Parallel Advisors LLC purchased a new stake in shares of Redwire during the 1st quarter valued at about $28,000. KBC Group NV bought a new position in Redwire in the first quarter worth approximately $29,000. Sunbelt Securities Inc. boosted its stake 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 last quarter. CWM LLC grew its position in shares of Redwire by 1,725.0% during the 4th 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 shares of Redwire by 1,054.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after purchasing an additional 3,668 shares in the last quarter. 8.10% of the stock is owned by hedge funds and other 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.