Redwire (NYSE:RDW) Shares Down 8.2% - Should You Sell?

Key Points

• Redwire Corporation shares fell by 8.2% to $14.21 during mid-day trading, continuing a trend of lower share prices amid decreased trading volume.
• Wall Street analysts generally maintain a "Moderate Buy" consensus on Redwire, with an average price target of $19.61 and several firms including HC Wainwright setting targets as high as $26.00.
• The company reported a quarter revenue of $61.4 million, missing analysts' expectations of $74.54 million, and anticipates posting earnings per share of -0.85 for the current fiscal year.

Redwire Corporation (NYSE:RDW - Get Free Report) was down 8.2% during trading on Tuesday . The stock traded as low as $14.23 and last traded at $14.21. Approximately 2,011,545 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 2,516,867 shares. The stock had previously closed at $15.47.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a research report on Monday, May 12th. Roth Capital reaffirmed a "buy" rating on shares of Redwire in a research report on Tuesday, June 24th. HC Wainwright reaffirmed a "buy" rating and issued a $26.00 price objective on shares of Redwire in a research report on Tuesday, June 24th. Truist Financial set a $16.00 price target on shares of Redwire and gave the stock a "hold" rating in a research report on Thursday, June 26th. Finally, Canaccord Genuity Group raised their price target 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. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Redwire presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.50.

Redwire Price Performance

The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -6.15 and a beta of 2.54. The business's 50-day moving average price is $16.45 and its two-hundred day moving average price is $14.86.

Redwire (NYSE:RDW - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.20). The company had revenue of $61.40 million for the quarter, compared to analyst estimates of $74.54 million. Equities analysts predict that Redwire Corporation will post -0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Redwire

Several large investors have recently added to or reduced their stakes in the company. Brookwood Investment Group LLC bought a new position in Redwire during the second quarter worth $192,000. Canal Insurance CO bought a new position in Redwire during the second quarter worth $3,260,000. Ethic Inc. bought a new stake in Redwire in the second quarter valued at $180,000. Brookstone Capital Management lifted its stake in Redwire by 34.8% in the second quarter. Brookstone Capital Management now owns 26,733 shares of the company's stock valued at $436,000 after buying an additional 6,896 shares during the last quarter. Finally, FNY Investment Advisers LLC lifted its stake in Redwire by 111.2% in the second quarter. FNY Investment Advisers LLC now owns 12,034 shares of the company's stock valued at $196,000 after buying an additional 6,336 shares during the last quarter. 8.10% of the stock is currently owned by 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.