Redwire (NYSE:RDW) Trading Down 7.5% Following Insider Selling

Redwire Corporation (NYSE:RDW)’s stock price dropped 7.5% on Monday following insider selling activity. The stock traded as low as $10.83 and last traded at $10.8710. Approximately 28,378,744 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 35,232,250 shares. The stock had previously closed at $11.75.

Specifically, Director Ae Red Holdings, Llc sold 3,932,686 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $12.80, for a total transaction of $50,338,380.80. Following the transaction, the director owned 52,760,700 shares in the company, valued at $675,336,960. This trade represents a 6.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ae Red Holdings, Llc sold 4,847,867 shares of Redwire stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $13.29, for a total value of $64,428,152.43. Following the completion of the sale, the director owned 56,693,386 shares in the company, valued at approximately $753,455,099.94. The trade was a 7.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RDW shares. Truist Financial set a $13.00 price objective on Redwire in a research note on Friday, January 9th. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research note on Thursday, November 6th. Canaccord Genuity Group dropped their price objective on shares of Redwire from $17.50 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Bank of America decreased their target price on Redwire from $9.00 to $6.00 and set an “underperform” rating for the company in a research note on Wednesday, November 19th. Finally, HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Redwire in a research report on Tuesday, December 23rd. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Redwire currently has an average rating of “Hold” and a consensus target price of $13.75.

Redwire Stock Performance

The firm has a market capitalization of $1.80 billion, a PE ratio of -3.43 and a beta of 2.44. The company’s fifty day moving average price is $8.74 and its two-hundred day moving average price is $9.13. 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) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.15). The business had revenue of $103.43 million for the quarter, compared to analysts’ expectations of $132.05 million. Redwire had a negative return on equity of 16.24% and a negative net margin of 70.32%. As a group, equities analysts expect that Redwire Corporation will post -0.85 earnings per share for the current year.

Hedge Funds Weigh In On Redwire

Hedge funds and other institutional investors have recently made changes to their positions in the business. AE Industrial Partners LP lifted its position in shares of Redwire by 7.1% during the 3rd quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after acquiring an additional 6,101,959 shares during the last quarter. Vanguard Group Inc. lifted its stake in Redwire by 2.9% in the third quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock valued at $29,153,000 after acquiring an additional 91,045 shares during the last quarter. Voya Investment Management LLC acquired a new position in shares of Redwire during the 3rd quarter worth $20,372,000. Hood River Capital Management LLC acquired a new stake in shares of Redwire in the second quarter worth about $36,206,000. Finally, UBS Group AG lifted its holdings in Redwire by 140.8% in the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock worth $15,503,000 after purchasing an additional 1,192,885 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.