Redwire (NYSE:RDW) Shares Up 6.1% – Here’s What Happened

Redwire Corporation (NYSE:RDW) shares shot up 6.1% during mid-day trading on Wednesday . The stock traded as high as $15.12 and last traded at $14.7650. 52,037,177 shares traded hands during trading, an increase of 94% from the average session volume of 26,802,816 shares. The stock had previously closed at $13.91.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RDW. Jefferies Financial Group reissued a “buy” rating and set a $13.00 target price on shares of Redwire in a research note on Sunday, May 10th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Canaccord Genuity Group boosted their target price on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Roth Mkm reissued a “buy” rating and set a $20.00 target price on shares of Redwire in a research note on Wednesday, January 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $14.22.

Redwire Stock Up 6.1%

The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2.83 billion, a P/E ratio of -5.51 and a beta of 2.41. The company has a 50-day moving average of $10.03 and a two-hundred day moving average of $8.90.

Redwire (NYSE:RDW) last released its earnings results on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.24). Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The company had revenue of $96.97 million during the quarter, compared to the consensus estimate of $105.94 million. During the same period last year, the firm posted ($0.09) earnings per share. The company’s revenue was up 57.9% compared to the same quarter last year. On average, research analysts predict that Redwire Corporation will post -0.67 EPS for the current year.

Insider Buying and Selling

In other news, Director Ae Red Holdings, Llc sold 977,887 shares of the company’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $10.57, for a total transaction of $10,336,265.59. Following the transaction, the director directly owned 21,494,349 shares of the company’s stock, valued at $227,195,268.93. This represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 23,327,795 shares of company stock valued at $228,806,188 over the last 90 days. Insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

A number of hedge funds have recently bought and sold shares of the company. Andar Capital Management HK Ltd lifted its stake in shares of Redwire by 76.5% during the 3rd quarter. Andar Capital Management HK Ltd now owns 300,000 shares of the company’s stock worth $2,697,000 after acquiring an additional 130,000 shares during the last quarter. Register Financial Advisors LLC lifted its stake in shares of Redwire by 46.8% during the 3rd quarter. Register Financial Advisors LLC now owns 327,900 shares of the company’s stock worth $2,948,000 after acquiring an additional 104,597 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Redwire by 2,556.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 577,271 shares of the company’s stock worth $5,190,000 after acquiring an additional 555,536 shares during the last quarter. Capelight Capital Asset Management LP bought a new stake in shares of Redwire during the 4th quarter worth approximately $1,330,000. Finally, AE Industrial Partners LP lifted its stake in shares of Redwire by 7.1% during the 3rd quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock worth $823,472,000 after acquiring an additional 6,101,959 shares during the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

About Redwire

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.