Redwire (NYSE:RDW) Shares Up 10.8% – Time to Buy?

Redwire Corporation (NYSE:RDW)’s stock price traded up 10.8% during trading on Tuesday . The stock traded as high as $10.71 and last traded at $10.6830. Approximately 19,727,461 shares were traded during trading, a decline of 33% from the average daily volume of 29,642,666 shares. The stock had previously closed at $9.64.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Canaccord Genuity Group raised their price target on shares of Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Jefferies Financial Group raised Redwire to a “hold” rating in a report on Wednesday, June 10th. Wall Street Zen downgraded Redwire from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Truist Financial upgraded Redwire to a “strong-buy” rating in a report on Friday, May 1st. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Redwire currently has an average rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Trading Up 10.8%

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37. The firm’s fifty day moving average is $13.21 and its two-hundred day moving average is $11.31. The firm has a market capitalization of $2.55 billion, a PE ratio of -3.99 and a beta of 3.05.

Redwire (NYSE:RDW) last posted its quarterly earnings data 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 net margin of 80.90% and a negative return on equity of 11.68%. The firm had revenue of $96.97 million during the quarter, compared to analysts’ expectations of $105.94 million. During the same quarter last year, the business posted ($0.09) EPS. The company’s quarterly revenue was up 57.9% on a year-over-year basis. On average, equities analysts predict that Redwire Corporation will post -0.81 EPS for the current fiscal year.

Insider Activity at Redwire

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the completion of the sale, the director directly owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RDW. Tema ETFs LLC increased its position in shares of Redwire by 51,491.5% during the 2nd quarter. Tema ETFs LLC now owns 621,162 shares of the company’s stock valued at $7,597,000 after purchasing an additional 619,958 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Redwire by 82.7% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 63,067 shares of the company’s stock worth $771,000 after buying an additional 28,540 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Redwire in the 2nd quarter worth about $1,730,000. Militia Capital Management LLC bought a new position in Redwire during the first quarter valued at about $281,000. Finally, Parallel Advisors LLC purchased a new stake in Redwire during the first quarter worth about $28,000. 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.