Redwire (NYSE:RDW) Trading 9% Higher – Time to Buy?

Shares of Redwire Corporation (NYSE:RDW) traded up 9% during mid-day trading on Wednesday . The company traded as high as $24.92 and last traded at $24.0180. 119,911,794 shares traded hands during mid-day trading, an increase of 313% from the average session volume of 29,022,869 shares. The stock had previously closed at $22.04.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Roth Mkm reiterated a “buy” rating and issued a $20.00 target price on shares of Redwire in a research note on Wednesday, January 28th. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Canaccord Genuity Group lifted their price objective on shares of Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. One 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 assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.22.

Redwire Trading Up 9.0%

The business’s 50 day moving average is $10.83 and its two-hundred day moving average is $9.26. 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 firm has a market capitalization of $4.61 billion, a P/E ratio of -8.96 and a beta of 2.41.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $96.97 million for the quarter, compared to the consensus estimate of $105.94 million. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. Redwire’s revenue for the quarter was up 57.9% compared to the same quarter last year. Analysts expect 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 977,887 shares of the business’s stock in a transaction dated 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 directly owned 21,494,349 shares in the company, valued at approximately $227,195,268.93. The trade was a 4.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 23,327,795 shares of company stock valued at $228,806,188 in the last quarter. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Redwire

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its position in Redwire by 7,512.5% in the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock worth $57,970,000 after acquiring an additional 6,730,414 shares in the last quarter. Janus Henderson Group PLC raised its position in Redwire by 157.5% in 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 in the last quarter. Amundi raised its position in Redwire by 55.4% in the first quarter. Amundi now owns 40,197 shares of the company’s stock worth $342,000 after acquiring an additional 14,337 shares in the last quarter. Parvin Asset Management LLC raised its position in Redwire by 6.9% in the first quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock worth $152,000 after acquiring an additional 1,150 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in Redwire by 33.6% in the first quarter. California State Teachers Retirement System now owns 98,527 shares of the company’s stock worth $837,000 after acquiring an additional 24,765 shares in the last quarter. 8.10% of the stock is currently owned by 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.