Redwire (NYSE:RDW) Stock Price Down 6.7% - What's Next?

Shares of Redwire Corporation (NYSE:RDW - Get Free Report) dropped 6.7% on Monday . The company traded as low as $18.16 and last traded at $18.10. Approximately 3,372,678 shares changed hands during trading, an increase of 111% from the average daily volume of 1,596,787 shares. The stock had previously closed at $19.41.

Wall Street Analyst Weigh In

RDW has been the topic of a number of research analyst reports. Roth Capital reiterated a "buy" rating on shares of Redwire in a report on Tuesday, June 24th. Wall Street Zen raised Redwire from a "sell" rating to a "hold" rating in a research report on Friday. Canaccord Genuity Group boosted their target price on shares of Redwire from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Truist Financial set a $16.00 target price on shares of Redwire and gave the stock a "hold" rating in a research report on Thursday, June 26th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $26.00 target price on shares of Redwire in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.61.

Redwire Trading Down 10.4%

The stock has a fifty day moving average price of $15.78 and a 200-day moving average price of $14.88. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -7.70 and a beta of 2.54.

Redwire (NYSE:RDW - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.20) EPS for the quarter, meeting analysts' consensus estimates of ($0.20). The firm had revenue of $61.40 million during the quarter, compared to the consensus estimate of $74.54 million. On average, equities analysts expect that Redwire Corporation will post -0.85 EPS for the current year.

Institutional Trading of Redwire

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in shares of Redwire by 6.9% during the fourth quarter. Bank of New York Mellon Corp now owns 52,170 shares of the company's stock worth $859,000 after acquiring an additional 3,357 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Redwire by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,641 shares of the company's stock valued at $1,080,000 after buying an additional 2,533 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Redwire in the fourth quarter valued at approximately $278,000. Raymond James Financial Inc. bought a new stake in shares of Redwire in the fourth quarter valued at approximately $215,000. Finally, Quantbot Technologies LP bought a new stake in shares of Redwire in the fourth quarter valued at approximately $154,000. Institutional investors and hedge funds own 8.10% of the company's stock.

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.

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