Redwire (NYSE:RDW) Stock Price Down 1.1% - Time to Sell?

Key Points

• Redwire shares fell 1.1% to $13.43, with trading volume 42% below the average session volume. The stock has a $3.36 billion market capitalization and trades below its consensus price target of $14.44.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating: one analyst rates the stock a Strong Buy, five rate it Buy, three Hold, and two Sell. Price targets include Jefferies’ $15 target, while Weiss Ratings maintained a “sell” rating.
• Redwire exceeded quarterly expectations, reporting an adjusted EPS loss of $0.09 versus estimates of a $0.16 loss and revenue of $117.07 million versus $107.10 million expected. However, profitability remains weak, with a negative net margin of 57.26%, and a director recently sold nearly half of their holdings.

Redwire Corporation (NYSE:RDW - Get Free Report) shares traded down 1.1% during trading on Monday . The stock traded as low as $13.38 and last traded at $13.43. 16,884,119 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 29,131,107 shares. The stock had previously closed at $13.58.

Analysts Set New Price Targets

Several brokerages have issued reports on RDW. Jefferies Financial Group set a $15.00 target price on Redwire in a research report on Sunday, August 9th. Truist Financial raised shares of Redwire to a "strong-buy" rating in a report on Friday, May 1st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Redwire in a report on Friday, July 17th. Alliance Global Partners reiterated a "buy" rating on shares of Redwire in a research note on Thursday, August 6th. Finally, Wall Street Zen raised shares of Redwire from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $14.44.

Redwire Stock Performance

The company has a market cap of $3.36 billion, a PE ratio of -9.20 and a beta of 3.05. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. The business's 50 day moving average is $11.56 and its two-hundred day moving average is $11.40.

Redwire (NYSE:RDW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.07. The business had revenue of $117.07 million for the quarter, compared to the consensus estimate of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. On average, equities research analysts anticipate that Redwire Corporation will post -0.68 EPS for the current year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The stock was 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 $23,142,960.12. This represents a 49.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.79% of the company's stock.

Hedge Funds Weigh In On Redwire

Several hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in Redwire by 125.0% in the 1st quarter. AQR Capital Management LLC now owns 51,437 shares of the company's stock valued at $426,000 after acquiring an additional 28,576 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of 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. Strs Ohio purchased a new position in shares of Redwire during the first quarter valued at about $69,000. Rhumbline Advisers increased its holdings in shares of Redwire by 61.0% in the second quarter. Rhumbline Advisers now owns 56,517 shares of the company's stock worth $921,000 after purchasing an additional 21,417 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Redwire by 57.6% in the second quarter. Invesco Ltd. now owns 21,198 shares of the company's stock worth $346,000 after buying an additional 7,750 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source