Redwire (NYSE:RDW) Shares Gap Down – Should You Sell?
by Jessica Moore · The Cerbat GemRedwire Corporation (NYSE:RDW – Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $11.71, but opened at $11.00. Redwire shares last traded at $11.1470, with a volume of 8,930,120 shares changing hands.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. Roth Capital reissued a “buy” rating and issued a $15.00 target price on shares of Redwire in a research report on Thursday, November 6th. HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of Redwire in a report on Tuesday, December 23rd. KeyCorp started coverage on shares of Redwire in a research report on Thursday, December 18th. They issued a “sector weight” rating for the company. Canaccord Genuity Group cut their price target on Redwire from $17.50 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $13.13.
Check Out Our Latest Stock Report on RDW
Redwire Price Performance
The business has a fifty day moving average price of $7.47 and a 200 day moving average price of $9.47. The company has a market cap of $1.77 billion, a price-to-earnings ratio of -3.39 and a beta of 2.44. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.05 and a current ratio of 1.41.
Redwire (NYSE:RDW – Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.15). Redwire had a negative return on equity of 16.24% and a negative net margin of 70.32%.The business had revenue of $103.43 million for the quarter, compared to analyst estimates of $132.05 million. As a group, research analysts anticipate that Redwire Corporation will post -0.85 earnings per share for the current year.
Insider Activity at Redwire
In other news, EVP Aaron Michael Futch acquired 18,410 shares of Redwire stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average price of $5.45 per share, for a total transaction of $100,334.50. Following the transaction, the executive vice president directly owned 88,704 shares of the company’s stock, valued at approximately $483,436.80. The trade was a 26.19% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Chris Edmunds bought 5,500 shares of the company’s stock in a transaction on Friday, November 14th. The stock was purchased at an average price of $5.46 per share, with a total value of $30,030.00. Following the completion of the transaction, the chief accounting officer directly owned 107,441 shares of the company’s stock, valued at approximately $586,627.86. The trade was a 5.40% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 56,065 shares of company stock valued at $330,047 and have sold 23,953,093 shares valued at $252,001,857. Corporate insiders own 2.60% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in RDW. AE Industrial Partners LP grew its holdings in Redwire by 7.1% during the 3rd quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock worth $823,472,000 after acquiring an additional 6,101,959 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Redwire by 2.9% during the third quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock worth $29,153,000 after purchasing an additional 91,045 shares during the period. Voya Investment Management LLC bought a new stake in shares of Redwire in the third quarter worth $20,372,000. Hood River Capital Management LLC acquired a new stake in Redwire in the second quarter valued at $36,206,000. Finally, Cooper Creek Partners Management LLC acquired a new stake in Redwire in the second quarter valued at $32,652,000. Institutional investors own 8.10% of the company’s stock.
About Redwire
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.