Redwire (NYSE:RDW) Stock Price Down 5.4% – What’s Next?

Redwire Corporation (NYSE:RDW)’s stock price was down 5.4% during trading on Friday . The stock traded as low as $7.51 and last traded at $7.3990. Approximately 2,028,907 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 4,633,118 shares. The stock had previously closed at $7.82.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RDW shares. Cantor Fitzgerald cut their price objective on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research report on Thursday, November 6th. Bank of America reduced their price target on Redwire from $9.00 to $6.00 and set an “underperform” rating for the company in a research report on Wednesday, November 19th. Truist Financial decreased their price objective on Redwire from $11.00 to $8.00 and set a “hold” rating for the company in a research note on Friday, November 7th. Finally, KeyCorp initiated coverage on Redwire in a research note on Thursday, December 18th. They issued a “sector weight” rating on the stock. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.50.

Redwire Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.05 and a current ratio of 1.41. The stock has a market cap of $1.18 billion, a PE ratio of -2.25 and a beta of 2.48. The firm has a fifty day moving average price of $6.71 and a 200 day moving average price of $10.32.

Insiders Place Their Bets

In related news, CEO Peter Anthony Cannito, Jr. acquired 32,155 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $6.21 per share, with a total value of $199,682.55. Following the transaction, the chief executive officer directly owned 526,728 shares of the company’s stock, valued at $3,270,980.88. This trade represents a 6.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Chris Edmunds bought 5,500 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was bought at an average price of $5.46 per share, with a total value of $30,030.00. Following the completion of the purchase, the chief accounting officer directly owned 107,441 shares in the company, valued at $586,627.86. This represents a 5.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 56,065 shares of company stock valued at $330,047. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RDW. Deutsche Bank AG lifted its stake in shares of Redwire by 40.0% during the first quarter. Deutsche Bank AG now owns 14,072 shares of the company’s stock worth $117,000 after buying an additional 4,017 shares during the period. Nuveen LLC purchased a new position in Redwire in the 1st quarter worth $761,000. Jump Financial LLC acquired a new stake in Redwire during the 1st quarter worth about $425,000. Gabelli Funds LLC grew its stake in Redwire by 7.4% during the 1st quarter. Gabelli Funds LLC now owns 18,871 shares of the company’s stock valued at $156,000 after purchasing an additional 1,300 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Redwire by 125.0% in the first quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock valued at $426,000 after purchasing an additional 28,576 shares during the period. Institutional investors and hedge funds 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.