Redwire (NYSE:RDW) Trading 2.8% Higher – What’s Next?

Redwire Corporation (NYSE:RDW)’s stock price traded up 2.8% on Friday . The company traded as high as $14.02 and last traded at $13.5720. Approximately 14,125,915 shares traded hands during trading, a decline of 52% from the average daily volume of 29,198,400 shares. The stock had previously closed at $13.20.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a report on Friday, May 1st. Cantor Fitzgerald boosted their price target on shares of Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Canaccord Genuity Group boosted their price objective on Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday. Finally, Jefferies Financial Group set a $15.00 target price on shares of Redwire in a research note on Sunday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.44.

Redwire Trading Up 2.8%

The stock’s 50 day simple moving average is $11.66 and its two-hundred day simple moving average is $11.38. The stock has a market capitalization of $3.24 billion, a PE ratio of -9.30 and a beta of 3.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 12.65%. The company had revenue of $117.07 million for the quarter, compared to analysts’ expectations of $107.10 million. On average, sell-side analysts expect that Redwire Corporation will post -0.68 EPS for the current year.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the stock in a transaction 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 transaction, the director owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This represents a 49.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Redwire

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Redwire during the second quarter worth about $196,514,000. Bank of America Corp DE lifted its stake in shares of Redwire by 7,512.5% during 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 in the last quarter. State Street Corp boosted its holdings in Redwire by 61.1% in the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after buying an additional 1,786,038 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Redwire in the 2nd quarter valued at approximately $16,583,000. Finally, UBS Group AG grew its stake in Redwire by 140.8% in the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after buying an additional 1,192,885 shares in the last quarter. 8.10% of the stock is owned by hedge funds and other institutional investors.

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.