Redwire (NYSE:RDW) Announces Quarterly Earnings Results

Redwire (NYSE:RDW) issued its quarterly earnings results on Monday. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.48), Zacks reports.

Redwire Trading Down 6.4 %

RDW traded down $0.77 during trading on Monday, hitting $11.29. 2,442,594 shares of the company traded hands, compared to its average volume of 778,897. The company has a market cap of $751.05 million, a PE ratio of -9.33 and a beta of 2.33. Redwire has a 1 year low of $3.00 and a 1 year high of $26.66. The stock’s 50-day simple moving average is $18.58 and its two-hundred day simple moving average is $12.63.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Redwire in a report on Friday, January 24th. They set an “overweight” rating and a $28.00 price target on the stock. HC Wainwright lifted their target price on shares of Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, B. Riley raised Redwire from a “neutral” rating to a “buy” rating and raised their price target for the company from $9.50 to $27.00 in a report on Monday, January 27th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $18.04.

Insider Buying and Selling at Redwire

In other news, major shareholder Park Lp Genesis II sold 5,371 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $18.01, for a total transaction of $96,731.71. Following the sale, the insider now directly owns 4,598,056 shares of the company’s stock, valued at $82,810,988.56. This represents a 0.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 684,454 shares of company stock valued at $13,682,993 in the last 90 days. Insiders own 2.60% of the company’s stock.

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.