Redwire (NYSE:RDW) Shares Down 2.1% – Here’s What Happened

Shares of Redwire Corporation (NYSE:RDW) fell 2.1% during mid-day trading on Thursday . The company traded as low as $12.87 and last traded at $13.2050. Approximately 16,191,734 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 29,306,641 shares. The stock had previously closed at $13.49.

Analysts Set New Price Targets

A number of equities analysts recently commented on RDW shares. Truist Financial upgraded Redwire to a “strong-buy” rating in a report on Friday, May 1st. Canaccord Genuity Group upped their price objective on Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research report on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. Finally, Cantor Fitzgerald boosted their target price on Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.44.

Redwire Trading Down 2.1%

The company has a market cap of $3.15 billion, a price-to-earnings ratio of -9.04 and a beta of 3.05. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average price is $11.83 and its 200-day moving average price is $11.37.

Redwire (NYSE:RDW) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. The business had revenue of $117.07 million for the quarter, compared to analyst estimates of $107.10 million. Redwire had a negative net margin of 57.26% and a negative return on equity of 12.65%. On average, equities analysts anticipate that Redwire Corporation will post -0.68 EPS for the current fiscal year.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the transaction, the director owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Redwire in the second quarter valued at about $196,514,000. Bank of America Corp DE boosted its holdings 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 valued at $57,970,000 after purchasing an additional 6,730,414 shares during the period. State Street Corp grew its position in shares of Redwire by 61.1% during the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after purchasing an additional 1,786,038 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Redwire during the 2nd quarter worth approximately $16,583,000. Finally, UBS Group AG increased its holdings 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 purchasing an additional 1,192,885 shares during the period. 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.