Redwire (NYSE:RDW) Trading Down 5.9% – Time to Sell?

Redwire Corporation (NYSE:RDW)’s stock price fell 5.9% during trading on Tuesday . The company traded as low as $6.32 and last traded at $6.4850. 2,796,106 shares were traded during trading, a decline of 35% from the average session volume of 4,284,002 shares. The stock had previously closed at $6.89.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RDW. Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Roth Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of Redwire in a research report on Thursday, November 6th. Canaccord Genuity Group cut their target price on Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Cantor Fitzgerald lowered their price target on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.50.

Redwire Price Performance

The business has a fifty day moving average price of $7.03 and a 200 day moving average price of $10.87. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.05. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -2.07 and a beta of 2.48.

Insider Activity at Redwire

In related news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $7.83, for a total transaction of $86,130,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Aaron Michael Futch bought 18,410 shares of the business’s stock in a transaction on Friday, November 14th. The stock was purchased at an average price of $5.45 per share, with a total value of $100,334.50. Following the completion of the transaction, the executive vice president directly owned 88,704 shares of the company’s stock, valued at $483,436.80. This trade represents a 26.19% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 56,065 shares of company stock valued at $330,047 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Redwire

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Advisory Services LLC purchased a new stake in shares of Redwire in the second quarter valued at $54,000. Abich Financial Wealth Management LLC acquired a new position in Redwire during the third quarter valued at $41,000. Russell Investments Group Ltd. boosted its position in Redwire by 308.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock worth $44,000 after acquiring an additional 3,672 shares during the period. Tower Research Capital LLC TRC grew its stake in Redwire by 32.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock valued at $102,000 after acquiring an additional 1,533 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Redwire by 440.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock valued at $60,000 after purchasing an additional 5,395 shares during the period. Institutional investors own 8.10% of the company’s stock.

About Redwire

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.