Redwire (NYSE:RDW) Shares Gap Down – Time to Sell?

by · The Markets Daily

Redwire Co. (NYSE:RDW – Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $9.19, but opened at $8.82. Redwire shares last traded at $8.80, with a volume of 179,056 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RDW. Cantor Fitzgerald reissued an “overweight” rating and set a $6.00 price objective on shares of Redwire in a report on Monday, September 30th. B. Riley lowered shares of Redwire from a “buy” rating to a “neutral” rating and upped their price target for the company from $8.00 to $9.50 in a report on Tuesday. Finally, Alliance Global Partners upped their price target on shares of Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.95.

Get Our Latest Analysis on RDW

Redwire Stock Down 7.4 %

The business’s 50-day simple moving average is $7.09 and its two-hundred day simple moving average is $6.14. The firm has a market cap of $566.26 million, a price-to-earnings ratio of -8.66 and a beta of 1.96.

Redwire (NYSE:RDW – Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.15). The business had revenue of $78.11 million for the quarter, compared to analyst estimates of $66.86 million. On average, analysts expect that Redwire Co. will post -0.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vontobel Holding Ltd. acquired a new position in shares of Redwire during the 3rd quarter worth about $74,000. SG Americas Securities LLC raised its position in shares of Redwire by 39.6% during the 3rd quarter. SG Americas Securities LLC now owns 21,870 shares of the company’s stock worth $150,000 after purchasing an additional 6,200 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Redwire in the 2nd quarter valued at about $74,000. AQR Capital Management LLC acquired a new stake in Redwire in the 2nd quarter valued at about $89,000. Finally, Squarepoint Ops LLC raised its holdings in Redwire by 59.4% in the 2nd quarter. Squarepoint Ops LLC now owns 71,236 shares of the company’s stock valued at $511,000 after acquiring an additional 26,543 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Company Profile

(Get Free Report)

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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