Redwire (NYSE:RDW) Stock Price Down 3.6% Following Insider Selling

Key Points

• Redwire shares fell 3.6% to about $11.21 after Director Ae Red Holdings sold 929,435 shares for approximately $10.54 million, reducing its ownership by 86.26%.
• Analyst sentiment is mixed, with the stock carrying an average “Hold” rating and a consensus price target of $14.69; ratings range from Strong Buy to Sell.
• Redwire’s latest quarterly results exceeded expectations, reporting revenue of $117.07 million and an adjusted loss of $0.09 per share versus the expected $0.16 loss, though profitability remained negative.

Shares of Redwire Corporation (NYSE:RDW - Get Free Report) traded down 3.6% during mid-day trading on Monday following insider selling activity. The stock traded as low as $11.17 and last traded at $11.2060. Approximately 11,791,346 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 26,499,336 shares. The stock had previously closed at $11.62.

Specifically, Director Ae Red Holdings, Llc sold 929,435 shares of Redwire stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $11.34, for a total value of $10,539,792.90. Following the sale, the director owned 147,984 shares of the company's stock, valued at approximately $1,678,138.56. The trade was a 86.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

RDW has been the topic of several analyst reports. Cantor Fitzgerald upped their price target on shares of Redwire from $9.00 to $13.50 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Bank of America raised their target price on shares of Redwire from $7.00 to $8.00 and gave the company an "underperform" rating in a research note on Monday, August 31st. Wall Street Zen upgraded 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 set a "neutral" rating on the stock. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Redwire in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Redwire currently has an average rating of "Hold" and a consensus target price of $14.69.

Redwire Stock Performance

The company's fifty day simple moving average is $10.95 and its two-hundred day simple moving average is $11.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92. The stock has a market capitalization of $2.80 billion, a P/E ratio of -7.68 and a beta of 3.08.

Redwire (NYSE:RDW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping 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. As a group, equities analysts forecast that Redwire Corporation will post -0.7 EPS for the current year.

Institutional Trading of Redwire

Several institutional investors have recently added to or reduced their stakes in RDW. Parallel Advisors LLC acquired a new position in Redwire in the 1st quarter valued at $28,000. KBC Group NV bought a new stake in Redwire in the 1st quarter valued at about $29,000. Rockefeller Capital Management L.P. grew its position in Redwire by 1,054.0% during 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 in the last quarter. IFP Advisors Inc grew 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 worth $44,000 after purchasing an additional 3,516 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in Redwire in the 2nd quarter valued at about $57,000. 8.10% of the stock is currently owned by institutional investors.

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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