Redwire (NYSE:RDW) Stock Price Down 3.1% - Here's What Happened

Key Points

• Redwire shares fell 3.1% to $10.92, with trading volume down 66% from its average. The company has a $2.73 billion market capitalization and a high beta of 3.05.
• Analysts have a mixed outlook, resulting in a consensus “Hold” rating and an average price target of $14.44; several firms recently raised targets or upgraded the stock.
• Redwire beat quarterly expectations, reporting an adjusted loss of $0.09 per share versus the expected $0.16 loss and revenue of $117.07 million versus $107.10 million expected. However, profitability remained weak, with a negative net margin of 57.26%.

Redwire Corporation (NYSE:RDW - Get Free Report)'s stock price was down 3.1% on Friday . The company traded as low as $10.68 and last traded at $10.92. Approximately 9,701,842 shares were traded during trading, a decline of 66% from the average daily volume of 28,163,055 shares. The stock had previously closed at $11.27.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RDW. Wall Street Zen upgraded Redwire from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a report on Sunday, August 9th. Canaccord Genuity Group increased their target price on shares of Redwire from $14.00 to $15.00 and gave the company a "buy" rating in a report on Monday, August 10th. Cantor Fitzgerald upped their price target on shares of Redwire from $9.00 to $13.50 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Finally, Truist Financial upgraded Redwire to a "strong-buy" rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $14.44.

Redwire Trading Down 3.1%

The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48. The firm's 50 day moving average price is $10.96 and its 200 day moving average price is $11.43. The stock has a market capitalization of $2.73 billion, a P/E ratio of -7.48 and a beta of 3.05.

Redwire (NYSE:RDW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (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 for the quarter, compared to the consensus estimate of $107.10 million. As a group, equities research analysts expect that Redwire Corporation will post -0.68 earnings per share for the current fiscal year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total value of $22,995,736.20. Following the completion of the transaction, the director directly owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This represents a 49.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.79% of the company's stock.

Hedge Funds Weigh In On Redwire

A number of institutional investors have recently bought and sold shares of RDW. Parallel Advisors LLC bought a new stake in Redwire during the 1st quarter valued at approximately $28,000. KBC Group NV purchased a new position in shares of Redwire in the 1st quarter valued at approximately $29,000. Sunbelt Securities Inc. boosted its position in shares of Redwire by 601.1% during the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company's stock valued at $30,000 after purchasing an additional 3,396 shares in the last quarter. CWM LLC grew its stake in Redwire by 1,725.0% in the fourth quarter. CWM LLC now owns 4,088 shares of the company's stock worth $31,000 after purchasing an additional 3,864 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in 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 purchasing an additional 3,668 shares in the last quarter. 8.10% of the stock is owned by institutional investors.

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.

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