Redwire (NYSE:RDW) Trading Down 3.6% – Should You Sell?

Redwire Corporation (NYSE:RDW) traded down 3.6% during trading on Thursday . The stock traded as low as $12.28 and last traded at $12.8090. 38,634,371 shares changed hands during trading, an increase of 10% from the average session volume of 35,222,555 shares. The stock had previously closed at $13.29.

Wall Street Analyst Weigh In

Several analysts recently commented on RDW shares. Roth Mkm reiterated a “buy” rating and issued a $20.00 price objective on shares of Redwire in a research note on Wednesday. HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Redwire in a report on Tuesday, December 23rd. KeyCorp assumed coverage on Redwire in a research report on Thursday, December 18th. They issued a “sector weight” rating for the company. Truist Financial set a $13.00 price objective on shares of Redwire in a research report on Friday, January 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research report on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.75.

Redwire Price Performance

The company has a 50 day moving average of $8.63 and a 200 day moving average of $9.30. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -3.70 and a beta of 2.44. The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.15). Redwire had a negative net margin of 70.32% and a negative return on equity of 16.24%. The company had revenue of $103.43 million for the quarter, compared to analyst estimates of $132.05 million. As a group, equities research analysts forecast that Redwire Corporation will post -0.85 EPS for the current fiscal year.

Insider Buying and Selling at Redwire

In other Redwire news, CEO Peter Anthony Cannito, Jr. purchased 32,155 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $6.21 per share, with a total value of $199,682.55. Following the transaction, the chief executive officer owned 526,728 shares in the company, valued at approximately $3,270,980.88. This trade represents a 6.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ae Red Holdings, Llc sold 12,656,683 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $10.51, for a total value of $133,021,738.33. Following the completion of the transaction, the director directly owned 61,541,253 shares in the company, valued at $646,798,569.03. This trade represents a 17.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have purchased 56,065 shares of company stock worth $330,047 and have sold 32,733,646 shares worth $366,768,390. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Redwire

Institutional investors and hedge funds have recently bought and sold shares of the stock. AE Industrial Partners LP boosted its stake in shares of Redwire by 139.3% in the second quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock valued at $1,394,000 after purchasing an additional 49,765,262 shares during the period. Voya Investment Management LLC acquired a new position in shares of Redwire in the 3rd quarter valued at approximately $20,372,000. Hood River Capital Management LLC acquired a new position in shares of Redwire in the 2nd quarter valued at approximately $36,206,000. Cooper Creek Partners Management LLC purchased a new position in shares of Redwire during the 2nd quarter valued at approximately $32,652,000. Finally, UBS Group AG grew its position in shares of 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 in the last quarter. 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.