Redwire (NYSE:RDW) Trading Down 9.2% – Here’s Why

Redwire Corporation (NYSE:RDW) was down 9.2% during trading on Monday . The stock traded as low as $12.60 and last traded at $13.0290. 32,634,866 shares were traded during mid-day trading, an increase of 1% from the average daily volume of 32,413,318 shares. The stock had previously closed at $14.35.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RDW. Wall Street Zen raised shares of Redwire from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Jefferies Financial Group upgraded shares of Redwire to a “hold” rating in a research note on Wednesday, June 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. One 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 assigned a Sell rating to the stock. According to MarketBeat, Redwire currently has a consensus rating of “Moderate Buy” and an average target price of $15.44.

Redwire Price Performance

The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of -4.55 and a beta of 2.91. The company’s 50-day moving average is $14.17 and its 200-day moving average is $10.95.

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). Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The business had revenue of $96.97 million for the quarter, compared to the consensus estimate of $105.94 million. During the same quarter in the prior year, the business earned ($0.09) EPS. The firm’s revenue for the quarter was up 57.9% on a year-over-year basis. Equities research analysts expect that Redwire Corporation will post -0.76 earnings per share for the current fiscal year.

Insider Activity at Redwire

In related news, Director Ae Red Holdings, Llc sold 3,145,207 shares of the business’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $10.57, for a total value of $33,244,837.99. Following the sale, the director owned 26,273,144 shares of the company’s stock, valued at $277,707,132.08. The trade was a 10.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 13,211,433 shares of company stock worth $147,576,208. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Redwire

Several large investors have recently made changes to their positions in RDW. Bank of America Corp DE lifted its holdings 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 purchasing an additional 6,730,414 shares during the last quarter. State Street Corp grew its stake in Redwire by 61.1% during the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after buying an additional 1,786,038 shares during the last quarter. UBS Group AG grew its stake in Redwire by 140.8% during the fourth quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock worth $15,503,000 after buying an additional 1,192,885 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Redwire during the fourth quarter worth approximately $7,676,000. Finally, Van ECK Associates Corp increased its holdings in shares of Redwire by 231.0% during the fourth quarter. Van ECK Associates Corp now owns 1,436,535 shares of the company’s stock worth $10,918,000 after buying an additional 1,002,504 shares in the last quarter. Institutional investors own 8.10% of the company’s stock.

About Redwire

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.