Redwire (NYSE:RDW) Stock Price Down 13.9% – Should You Sell?

Redwire Corporation (NYSE:RDW)’s stock price was down 13.9% during mid-day trading on Friday . The company traded as low as $17.62 and last traded at $18.4440. Approximately 53,501,059 shares traded hands during mid-day trading, an increase of 72% from the average daily volume of 31,015,162 shares. The stock had previously closed at $21.43.

Analysts Set New Price Targets

A number of brokerages have recently commented on RDW. Truist Financial raised Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Jefferies Financial Group cut Redwire from a “buy” rating to a “hold” rating and boosted their price objective for the company from $13.00 to $24.00 in a research note on Monday. Weiss Ratings reaffirmed 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 research note on Wednesday, March 11th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.44.

Redwire Stock Performance

The stock has a market capitalization of $3.54 billion, a PE ratio of -6.88 and a beta of 2.92. 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 business’s fifty day moving average price is $12.61 and its 200-day moving average price is $10.06.

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). Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The firm had revenue of $96.97 million for the quarter, compared to the consensus estimate of $105.94 million. During the same period last year, the company posted ($0.09) EPS. The business’s revenue was up 57.9% on a year-over-year basis. As a group, equities research analysts expect that Redwire Corporation will post -0.7 EPS for the current year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the company’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $9.15, for a total value of $68,625,000.00. Following the transaction, the director directly owned 36,135,217 shares in the company, valued at $330,637,235.55. This represents a 17.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 23,327,795 shares of company stock worth $228,806,188 in the last three months. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Redwire

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in Redwire by 7,512.5% in 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 in the last quarter. AE Industrial Partners LP lifted its holdings in shares of Redwire by 7.1% during the 3rd quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock worth $823,472,000 after acquiring an additional 6,101,959 shares during the last quarter. State Street Corp grew its position in Redwire by 61.1% in the fourth 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 increased its stake in Redwire by 140.8% in the fourth quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after acquiring an additional 1,192,885 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Redwire in the fourth quarter valued at $7,676,000. 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.