Redwire (NYSE:RDW) Shares Up 7% After Analyst Upgrade

Redwire Corporation (NYSE:RDW) was up 7% on Monday after Truist Financial upgraded the stock from a hold rating to a buy rating. Truist Financial now has a $15.00 price target on the stock, up from their previous price target of $13.00. Redwire traded as high as $9.37 and last traded at $9.15. Approximately 7,429,943 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 26,242,984 shares. The stock had previously closed at $8.55.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group reduced their price target on Redwire from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday. Bank of America lowered their price target on Redwire from $9.00 to $6.00 and set an “underperform” rating on the stock in a research report on Wednesday, November 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a report on Thursday, January 22nd. KeyCorp began coverage on shares of Redwire in a research note on Thursday, December 18th. They issued a “sector weight” rating for the company. Finally, Zacks Research downgraded shares of Redwire from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 10th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Redwire currently has an average rating of “Hold” and an average target price of $13.89.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 49,985 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $10.01, for a total value of $500,349.85. Following the sale, the director owned 45,094,000 shares in the company, valued at $451,390,940. This represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 40,400,346 shares of company stock valued at $453,127,301 in the last 90 days. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Redwire

A number of large investors have recently added to or reduced their stakes in RDW. Sunbelt Securities Inc. lifted its holdings in Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after purchasing an additional 3,396 shares during the last quarter. CWM LLC raised its position in shares of Redwire by 1,725.0% in the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after purchasing an additional 3,864 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in shares of Redwire during the 3rd quarter worth about $41,000. Russell Investments Group Ltd. boosted its holdings in shares of Redwire by 308.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock worth $44,000 after buying an additional 3,672 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Redwire by 440.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 6,620 shares of the company’s stock worth $60,000 after buying an additional 5,395 shares during the period. Institutional investors own 8.10% of the company’s stock.

Redwire Stock Performance

The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -3.82 and a beta of 2.50. The company has a current ratio of 1.62, a quick ratio of 1.27 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average is $9.81 and its 200 day moving average is $8.47.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.19). Redwire had a negative return on equity of 13.04% and a negative net margin of 67.55%.The company had revenue of $108.79 million for the quarter, compared to analyst estimates of $98.78 million. Analysts anticipate that Redwire Corporation will post -0.85 earnings per share for the current year.

Redwire Company Profile

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.