Redwire Target of Unusually Large Options Trading (NYSE:RDW)

Redwire Corporation (NYSE:RDW) was the target of unusually large options trading on Wednesday. Stock traders acquired 42,865 call options on the stock. This represents an increase of 47% compared to the average daily volume of 29,069 call options.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Canaccord Genuity Group lifted their target price on Redwire from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Roth Mkm reiterated a “buy” rating and set a $20.00 target price on shares of Redwire in a research report on Wednesday, January 28th. Truist Financial upgraded Redwire from a “hold” rating to a “buy” rating and raised their price target for the company from $13.00 to $15.00 in a research note on Monday, March 9th. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, Jefferies Financial Group cut their price target on Redwire from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Redwire currently has an average rating of “Moderate Buy” and an average target price of $13.89.

Redwire Stock Up 11.9%

Shares of Redwire stock traded up $1.23 during trading on Wednesday, hitting $11.54. 32,118,106 shares of the stock traded hands, compared to its average volume of 23,815,885. The firm has a market cap of $2.21 billion, a P/E ratio of -4.87 and a beta of 2.49. The company has a current ratio of 1.62, a quick ratio of 1.27 and a debt-to-equity ratio of 0.08. Redwire has a 52-week low of $4.87 and a 52-week high of $22.25. The stock’s fifty day simple moving average is $9.18 and its 200 day simple moving average is $8.63.

Redwire (NYSE:RDW) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.19). The firm had revenue of $108.79 million for the quarter, compared to analysts’ expectations of $98.78 million. Redwire had a negative net margin of 67.55% and a negative return on equity of 13.04%. On average, equities analysts predict that Redwire will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 2,034,536 shares of Redwire stock in a transaction on Friday, April 17th. The stock was sold at an average price of $10.77, for a total transaction of $21,911,952.72. Following the completion of the sale, the director directly owned 24,238,608 shares in the company, valued at approximately $261,049,808.16. This trade represents a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 37,030,789 shares of company stock worth $401,525,382 in the last ninety days. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Redwire

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. grew its stake in Redwire by 601.1% in the fourth 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. Rockefeller Capital Management L.P. grew its stake in Redwire by 1,054.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after purchasing an additional 3,668 shares during the last quarter. CWM LLC grew its stake in 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 last quarter. Abich Financial Wealth Management LLC purchased a new position in Redwire in the third quarter valued at about $41,000. Finally, Russell Investments Group Ltd. grew its stake in Redwire by 308.6% in the third quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock valued at $44,000 after purchasing an additional 3,672 shares during the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

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.