Redwire (NYSE:RDW) Releases Earnings Results, Misses Estimates By $0.42 EPS

Redwire (NYSE:RDW) posted its earnings results on Wednesday. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.42), FiscalAI reports. The company had revenue of $108.79 million for the quarter, compared to analysts’ expectations of $98.78 million. Redwire had a negative net margin of 70.32% and a negative return on equity of 16.24%.

Redwire Trading Up 1.5%

Shares of Redwire stock traded up $0.13 on Wednesday, reaching $8.55. The company had a trading volume of 13,007,174 shares, compared to its average volume of 28,234,449. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -2.70 and a beta of 2.44. 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 firm’s 50-day moving average price is $9.58 and its two-hundred day moving average price is $8.47. Redwire has a 1 year low of $4.87 and a 1 year high of $22.25.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Bank of America cut their price objective on Redwire from $9.00 to $6.00 and set an “underperform” rating for the company in a research report on Wednesday, November 19th. Roth Mkm reissued a “buy” rating and set a $20.00 price target on shares of Redwire in a research note on Wednesday, January 28th. KeyCorp assumed coverage on Redwire in a report on Thursday, December 18th. They set a “sector weight” rating for the company. Truist Financial set a $13.00 price objective on Redwire in a report on Friday, January 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $22.00 target price on shares of Redwire in a research report on Tuesday, December 23rd. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $13.75.

Insiders Place Their Bets

In related news, Director Ae Red Holdings, Llc sold 49,985 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $10.01, for a total value of $500,349.85. Following the completion of the sale, the director directly owned 45,094,000 shares in the company, valued at $451,390,940. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 40,400,346 shares of company stock worth $453,127,301. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Redwire

Hedge funds and other institutional investors have recently made changes to their positions in the company. 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 purchasing an additional 3,396 shares during the period. Invesco Ltd. lifted its stake in Redwire by 101.7% in the fourth quarter. Invesco Ltd. now owns 1,295,461 shares of the company’s stock worth $9,846,000 after purchasing an additional 653,043 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Redwire during the fourth quarter valued at approximately $114,000. Vident Advisory LLC grew its stake in shares of Redwire by 7.8% during the fourth quarter. Vident Advisory LLC now owns 94,032 shares of the company’s stock valued at $715,000 after buying an additional 6,844 shares during the last quarter. Finally, VARCOV Co. purchased a new stake in shares of Redwire in the fourth quarter worth approximately $84,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

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.