Redwire (NYSE:RDW) Shares Up 26.2% – What’s Next?

Redwire Corporation (NYSE:RDW) was up 26.2% during mid-day trading on Tuesday . The stock traded as high as $23.10 and last traded at $22.08. Approximately 104,768,171 shares changed hands during trading, an increase of 273% from the average daily volume of 28,066,486 shares. The stock had previously closed at $17.49.

Wall Street Analyst Weigh In

RDW has been the subject of several recent research reports. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Redwire in a research note on Sunday, May 10th. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Roth Mkm reissued a “buy” rating and set a $20.00 target price on shares of Redwire in a research report on Wednesday, January 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Redwire presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.22.

Redwire Price Performance

The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $4.24 billion, a PE ratio of -8.24 and a beta of 2.41. The stock’s 50-day moving average is $10.58 and its two-hundred day moving average is $9.15.

Redwire (NYSE:RDW) last announced its 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). Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business had revenue of $96.97 million for the quarter, compared to analysts’ expectations of $105.94 million. During the same quarter last year, the firm earned ($0.09) EPS. The firm’s quarterly revenue was up 57.9% on a year-over-year basis. On average, equities analysts predict that Redwire Corporation will post -0.7 EPS for the current year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the stock in a transaction on 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 23,327,795 shares of company stock valued at $228,806,188. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RDW. Bank of America Corp DE boosted its position in Redwire by 7,512.5% in the 1st quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after buying an additional 6,730,414 shares during the period. Janus Henderson Group PLC increased its position in shares of Redwire by 157.5% during the first quarter. Janus Henderson Group PLC now owns 54,600 shares of the company’s stock worth $463,000 after acquiring an additional 33,400 shares during the period. Amundi raised its stake in shares of Redwire by 55.4% during the first quarter. Amundi now owns 40,197 shares of the company’s stock valued at $342,000 after acquiring an additional 14,337 shares in the last quarter. Parvin Asset Management LLC boosted its holdings in shares of Redwire by 6.9% in the first quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock valued at $152,000 after purchasing an additional 1,150 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of Redwire by 33.6% in the first quarter. California State Teachers Retirement System now owns 98,527 shares of the company’s stock valued at $837,000 after purchasing an additional 24,765 shares during the period. 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.