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

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

Redwire Price Performance

Redwire stock traded down $0.77 during mid-day trading on Monday, reaching $11.29. 2,442,594 shares of the company traded hands, compared to its average volume of 778,897. Redwire has a fifty-two week low of $3.00 and a fifty-two week high of $26.66. The firm’s fifty day moving average is $18.58 and its two-hundred day moving average is $12.63. The company has a market capitalization of $751.05 million, a price-to-earnings ratio of -9.33 and a beta of 2.33.

Analyst Ratings Changes

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

Insider Activity

In related news, major shareholder Park Lp Genesis II sold 5,371 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.01, for a total value of $96,731.71. Following the completion of the transaction, the insider now owns 4,598,056 shares in the company, valued at $82,810,988.56. This trade represents a 0.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 684,454 shares of company stock valued at $13,682,993 over the last ninety days. 2.60% of the stock is currently owned by insiders.

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.