Redwire (NYSE:RDW) Posts Earnings Results, Misses Expectations By $0.48 EPS

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

Redwire Price Performance

NYSE:RDW traded down $0.77 during mid-day trading on Monday, reaching $11.29. The stock had a trading volume of 2,376,165 shares, compared to its average volume of 778,776. The stock has a market cap of $751.05 million, a P/E ratio of -9.33 and a beta of 2.33. The business’s 50 day moving average is $18.58 and its 200 day moving average is $12.63. Redwire has a fifty-two week low of $3.00 and a fifty-two week high of $26.66.

Insiders Place Their Bets

In other news, major shareholder Park Lp Genesis II sold 10,115 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $24.11, for a total transaction of $243,872.65. Following the transaction, the insider now owns 3,644,566 shares in the company, valued at approximately $87,870,486.26. This trade represents a 0.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 684,454 shares of company stock valued at $13,682,993 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.