Redwire (NYSE:RDW) Sees Strong Trading Volume – What’s Next?

Redwire Corporation (NYSE:RDW) shares saw unusually-strong trading volume on Friday . Approximately 17,212,022 shares changed hands during trading, a decline of 32% from the previous session’s volume of 25,219,578 shares.The stock last traded at $13.8240 and had previously closed at $13.99.

Analysts Set New Price Targets

Several research analysts have issued reports on RDW shares. Canaccord Genuity Group upped their price objective on Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Jefferies Financial Group reaffirmed a “buy” rating and set a $13.00 price objective on shares of Redwire in a research note on Sunday. Finally, Roth Mkm reaffirmed a “buy” rating and set a $20.00 price objective on shares of Redwire in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Redwire has a consensus rating of “Moderate Buy” and a consensus target price of $14.22.

Redwire Price Performance

The company has a 50 day simple moving average of $9.73 and a 200-day simple moving average of $8.78. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of -5.09 and a beta of 2.41. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Redwire (NYSE:RDW) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.24). The firm had revenue of $96.97 million during the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business’s revenue for the quarter was up 57.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.09) EPS. Research analysts expect that Redwire Corporation will post -0.61 EPS for the current year.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $9.15, for a total value of $68,625,000.00. Following the completion of the transaction, the director owned 36,135,217 shares in the company, valued at $330,637,235.55. This trade represents a 17.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 23,327,795 shares of company stock valued at $228,806,188. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Redwire

A number of hedge funds and other institutional investors have recently bought and sold shares of RDW. AQR Capital Management LLC grew its holdings in Redwire by 125.0% during the first quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock worth $426,000 after purchasing an additional 28,576 shares during the period. Goldman Sachs Group Inc. grew its holdings in Redwire by 352.8% during the first quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after purchasing an additional 276,814 shares during the period. Strs Ohio bought a new position in Redwire during the first quarter worth about $69,000. Rhumbline Advisers grew its holdings in Redwire by 61.0% during the second quarter. Rhumbline Advisers now owns 56,517 shares of the company’s stock worth $921,000 after purchasing an additional 21,417 shares during the period. Finally, Invesco Ltd. grew its holdings in Redwire by 57.6% during the second quarter. Invesco Ltd. now owns 21,198 shares of the company’s stock worth $346,000 after purchasing an additional 7,750 shares during the period. 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.