Redwire Sees Unusually Large Options Volume (NYSE:RDW)

Redwire Corporation (NYSE:RDW) was the recipient of unusually large options trading activity on Tuesday. Stock traders acquired 107,373 call options on the company. This represents an increase of approximately 176% compared to the average volume of 38,858 call options.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 977,887 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $10.57, for a total value of $10,336,265.59. Following the sale, the director owned 21,494,349 shares in the company, valued at $227,195,268.93. This represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 23,327,795 shares of company stock valued at $228,806,188 in the last quarter. 0.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Redwire

Institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC purchased a new position in Redwire during the first quarter worth about $28,000. KBC Group NV purchased a new stake in shares of Redwire in the 1st quarter valued at approximately $29,000. Sunbelt Securities Inc. raised its stake in shares of Redwire by 601.1% in the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after acquiring an additional 3,396 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of Redwire by 1,054.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after acquiring an additional 3,668 shares during the period. Finally, CWM LLC raised its stake in shares of Redwire by 1,725.0% in the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after acquiring an additional 3,864 shares during the period. 8.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RDW shares. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Jefferies Financial Group restated a “buy” rating and set a $13.00 price target on shares of Redwire in a research report on Sunday, May 10th. 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. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Roth Mkm restated a “buy” rating and set a $20.00 price target on shares of Redwire in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.22.

Redwire Price Performance

Shares of NYSE:RDW traded up $4.73 during midday trading on Tuesday, hitting $22.22. The company’s stock had a trading volume of 59,738,768 shares, compared to its average volume of 27,559,404. The business’s 50 day simple moving average is $10.58 and its 200 day simple moving average is $9.15. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75. The company has a market cap of $4.27 billion, a P/E ratio of -8.29 and a beta of 2.41. Redwire has a 12-month low of $4.87 and a 12-month high of $22.86.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share 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 business had revenue of $96.97 million during the quarter, compared to analysts’ expectations of $105.94 million. During the same period in the prior year, the business posted ($0.09) earnings per share. The business’s quarterly revenue was up 57.9% on a year-over-year basis. On average, analysts forecast that Redwire will post -0.7 EPS for the current year.

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.