Redwire (NYSE:RDW) Stock: Insider Ae Red Holdings, Llc Sells 929,435 Shares

Redwire Corporation (NYSE:RDW) Director Ae Red Holdings, Llc sold 929,435 shares of the business’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $11.34, for a total transaction of $10,539,792.90. Following the transaction, the director directly owned 147,984 shares in the company, valued at $1,678,138.56. This trade represents a 86.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Redwire Stock Performance

Shares of RDW traded up $0.02 during trading hours on Friday, reaching $11.62. 13,244,927 shares of the company traded hands, compared to its average volume of 26,586,611. Redwire Corporation has a 1-year low of $4.87 and a 1-year high of $26.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92. The stock has a market cap of $2.90 billion, a P/E ratio of -7.96 and a beta of 3.08. The stock’s fifty day moving average is $10.89 and its 200 day moving average is $11.74.

Redwire (NYSE:RDW) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. The business had revenue of $117.07 million for 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%. Equities research analysts anticipate that Redwire Corporation will post -0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Redwire

Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in Redwire in the second quarter valued at $196,514,000. Van ECK Associates Corp grew its position in shares of Redwire by 173.0% in the second quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company’s stock valued at $83,791,000 after purchasing an additional 4,341,424 shares during the last quarter. Bank of America Corp DE increased 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 worth $57,970,000 after buying an additional 6,730,414 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Redwire in the second quarter valued at about $16,583,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of Redwire during the second quarter worth approximately $11,186,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RDW. Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a report on Sunday, August 9th. Guggenheim began coverage on shares of Redwire in a research report on Monday, September 14th. They set a “neutral” rating on the stock. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. Cantor Fitzgerald lifted their target price on Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $14.69.

About Redwire

Redwire Corporation is a space infrastructure and technology company that develops products and services for government, commercial and international space customers. Its capabilities support the design, manufacture and operation of spacecraft, space systems and related infrastructure across missions in low Earth orbit and beyond.

The company’s offerings include digital engineering and mission-support services, spacecraft platforms, avionics, sensors, power systems, deployable structures and solar arrays.