Redwire (NYSE:RDW) Trading 13.7% Higher – Here’s Why

Redwire Corporation (NYSE:RDW) was up 13.7% on Thursday . The company traded as high as $21.05 and last traded at $21.1740. Approximately 13,431,999 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 30,133,127 shares. The stock had previously closed at $18.62.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RDW shares. Jefferies Financial Group downgraded shares of Redwire from a “buy” rating to a “hold” rating and upped their price target for the company from $13.00 to $24.00 in a report on Monday. Canaccord Genuity Group upped their price target on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a report on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. Finally, Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.44.

Redwire Price Performance

The company has a market cap of $4.16 billion, a P/E ratio of -8.10 and a beta of 2.92. 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 stock has a 50-day simple moving average of $12.36 and a 200 day simple moving average of $9.94.

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

Insiders Place Their Bets

In related news, Director Ae Red Holdings, Llc sold 977,887 shares of the company’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 owned 21,494,349 shares of the company’s stock, valued at $227,195,268.93. The trade was a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 23,327,795 shares of company stock valued at $228,806,188 over the last quarter. Insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AE Industrial Partners LP grew its holdings in shares of Redwire by 7.1% in the 3rd quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock worth $823,472,000 after purchasing an additional 6,101,959 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of 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 worth $57,970,000 after purchasing an additional 6,730,414 shares during the last quarter. State Street Corp grew its holdings in shares of 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 purchasing an additional 1,786,038 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Redwire by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock worth $29,153,000 after purchasing an additional 91,045 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of Redwire by 140.8% in the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock worth $15,503,000 after purchasing an additional 1,192,885 shares during the last quarter. 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.