Redwire (NYSE:RDW) Director Sells 929,435 Shares of Company Stock

Key Points

• Redwire director Ae Red Holdings sold 929,435 shares at an average price of $11.34, generating approximately $10.54 million. The sale reduced the director’s stake by 86.26% to 147,984 shares.
• Redwire shares recently traded at $11.62, while the company reported quarterly revenue of $117.07 million and an adjusted loss of $0.09 per share, exceeding analyst expectations.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $14.69; institutional investors own 8.10% of the company.

Redwire Corporation (NYSE:RDW - Get Free Report) Director Ae Red Holdings, Llc sold 929,435 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $11.34, for a total transaction of $10,539,792.90. Following the completion of the sale, the director directly owned 147,984 shares of the company's stock, valued at approximately $1,678,138.56. This trade represents a 86.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Redwire Trading Up 0.2%

RDW stock traded up $0.02 during mid-day trading on Friday, hitting $11.62. 13,244,927 shares of the company were exchanged, compared to its average volume of 26,586,611. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.90 billion, a P/E ratio of -7.96 and a beta of 3.08. The business has a fifty day simple moving average of $10.89 and a 200-day simple moving average of $11.74. Redwire Corporation has a 12-month low of $4.87 and a 12-month high of $26.64.

Redwire (NYSE:RDW - Get Free Report) last announced its 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. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%.The company had revenue of $117.07 million during the quarter, compared to analysts' expectations of $107.10 million. On average, equities research analysts predict that Redwire Corporation will post -0.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Redwire

Several institutional investors and hedge funds have recently modified their holdings of the stock. Parvin Asset Management LLC raised its holdings in shares of Redwire by 6.9% during the first quarter. Parvin Asset Management LLC now owns 17,825 shares of the company's stock worth $152,000 after acquiring an additional 1,150 shares in the last quarter. Parallel Advisors LLC bought a new position in shares of Redwire during the 1st quarter valued at $28,000. KBC Group NV acquired a new stake in shares of Redwire in the 1st quarter valued at $29,000. IFP Advisors Inc increased its holdings in shares of Redwire by 3,662.5% during the 2nd quarter. IFP Advisors Inc now owns 3,612 shares of the company's stock valued at $44,000 after acquiring an additional 3,516 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Redwire by 1,054.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company's stock worth $31,000 after buying an additional 3,668 shares during the last quarter. Hedge funds and other institutional investors own 8.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RDW shares. Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a report on Thursday, August 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Redwire in a report on Friday, July 17th. Wall Street Zen upgraded shares of Redwire from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Guggenheim initiated coverage on Redwire in a report on Monday, September 14th. They issued a "neutral" rating on the stock. Finally, Cantor Fitzgerald upped their target price on Redwire from $9.00 to $13.50 and gave the company an "overweight" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $14.69.

About Redwire

Redwire Corporation is a space infrastructure and technology company that develops products and services for government, commercial and international space customers. Its capabilities support the design, manufacture and operation of spacecraft, space systems and related infrastructure across missions in low Earth orbit and beyond.

The company's offerings include digital engineering and mission-support services, spacecraft platforms, avionics, sensors, power systems, deployable structures and solar arrays.

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