Redwire (NYSE:RDW) Stock Price Down 8.5% - Here's Why

Redwire Co. (NYSE:RDW - Get Free Report)'s stock price traded down 8.5% during trading on Tuesday . The company traded as low as $18.94 and last traded at $18.26. 1,125,403 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 1,192,558 shares. The stock had previously closed at $19.96.

Wall Street Analysts Forecast Growth

RDW has been the topic of several recent research reports. HC Wainwright restated a "buy" rating and set a $26.00 target price on shares of Redwire in a research report on Wednesday, March 12th. Wall Street Zen raised Redwire from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Cantor Fitzgerald restated an "overweight" rating and issued a $28.00 price target on shares of Redwire in a research report on Tuesday, March 11th. B. Riley lowered their target price on shares of Redwire from $27.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday, March 12th. Finally, Alliance Global Partners reissued a "buy" rating on shares of Redwire in a research note on Monday, May 12th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $20.05.

Redwire Trading Down 1.3%

The stock has a market capitalization of $1.47 billion, a P/E ratio of -15.77 and a beta of 2.53. The company has a 50-day moving average price of $12.42 and a 200 day moving average price of $14.39.

Redwire (NYSE:RDW - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.20). The business had revenue of $61.40 million during the quarter, compared to analyst estimates of $74.54 million. As a group, research analysts expect that Redwire Co. will post -0.85 earnings per share for the current year.

Institutional Investors Weigh In On Redwire

A number of large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Redwire by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,876 shares of the company's stock worth $212,000 after acquiring an additional 532 shares during the period. JPMorgan Chase & Co. increased its holdings in Redwire by 7.8% in the 4th quarter. JPMorgan Chase & Co. now owns 10,854 shares of the company's stock worth $179,000 after buying an additional 782 shares during the period. Summit Investment Advisors Inc. raised its position in Redwire by 64.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company's stock worth $39,000 after buying an additional 931 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of Redwire by 7.4% in the 1st quarter. Gabelli Funds LLC now owns 18,871 shares of the company's stock valued at $156,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Redwire by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company's stock worth $72,000 after acquiring an additional 1,372 shares during the period. 8.10% of the stock is owned by hedge funds and other institutional investors.

Redwire Company Profile

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.