Redwire (NYSE:RDW) Rating Lowered to Strong Sell at Wall Street Zen

Key Points

• Redwire has been downgraded from a "hold" to a "strong sell" rating by Wall Street Zen, indicating negative sentiment among analysts.
• The company reported a quarterly EPS of ($0.39), significantly missing the consensus estimate, and achieved revenue of $61.76 million, falling short of the $80.48 million expectation.
• Despite the downgrade, Redwire has a consensus rating of "Moderate Buy" from analysts, with several firms maintaining buy ratings and an average price target of $20.00.

Wall Street Zen downgraded shares of Redwire (NYSE:RDW - Free Report) from a hold rating to a strong sell rating in a research note released on Saturday morning.

RDW has been the subject of a number of other reports. Canaccord Genuity Group raised their target price on shares of Redwire from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. B. Riley decreased their price target on shares of Redwire from $25.00 to $20.00 and set a "buy" rating for the company in a report on Friday, August 8th. Truist Financial set a $16.00 price objective on Redwire and gave the stock a "hold" rating in a report on Thursday, June 26th. Alliance Global Partners restated a "buy" rating on shares of Redwire in a report on Monday, May 12th. Finally, HC Wainwright restated a "buy" rating and issued a $22.00 target price (down from $26.00) on shares of Redwire in a report on Friday, August 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $19.42.

Redwire Stock Performance

Shares of NYSE RDW traded down $0.12 during mid-day trading on Friday, hitting $9.30. The company had a trading volume of 2,360,771 shares, compared to its average volume of 2,816,962. Redwire has a 12 month low of $5.27 and a 12 month high of $26.66. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -2.86 and a beta of 2.52. The firm's 50 day simple moving average is $16.02 and its two-hundred day simple moving average is $14.51. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.46 and a quick ratio of 1.18.

Redwire (NYSE:RDW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.28). Redwire had a negative return on equity of 32.67% and a negative net margin of 71.95%. The business had revenue of $61.76 million during the quarter, compared to the consensus estimate of $80.48 million. As a group, equities research analysts forecast that Redwire will post -0.85 earnings per share for the current year.

Institutional Trading of Redwire

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. acquired a new stake in Redwire during the second quarter valued at approximately $7,062,000. Geode Capital Management LLC boosted its holdings in Redwire by 77.1% during the second quarter. Geode Capital Management LLC now owns 935,297 shares of the company's stock valued at $15,248,000 after purchasing an additional 407,131 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Redwire during the fourth quarter valued at approximately $4,830,000. EAM Global Investors LLC acquired a new stake in Redwire during the fourth quarter valued at approximately $4,689,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Redwire by 352.8% during the first quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company's stock valued at $2,945,000 after purchasing an additional 276,814 shares in the last quarter. Institutional investors own 8.10% of the company's stock.

About Redwire

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.