Redwire (NYSE:RDW) Trading 6.1% Higher – What’s Next?

Redwire Corporation (NYSE:RDW) traded up 6.1% during mid-day trading on Wednesday . The stock traded as high as $14.98 and last traded at $14.32. 35,492,894 shares changed hands during mid-day trading, an increase of 10% from the average session volume of 32,284,563 shares. The stock had previously closed at $13.50.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Jefferies Financial Group raised shares of Redwire to a “hold” rating in a report on Wednesday, June 10th. Truist Financial raised shares of Redwire to a “strong-buy” rating in a report on Friday, May 1st. Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Canaccord Genuity Group lifted their price target on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. One 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 company’s stock. According to data from MarketBeat, Redwire currently has a consensus rating of “Moderate Buy” and an average target price of $15.44.

Redwire Stock Up 6.1%

The stock has a market capitalization of $2.75 billion, a PE ratio of -5.34 and a beta of 2.92. 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 business’s fifty day moving average price is $13.76 and its two-hundred day moving average price is $10.66.

Redwire (NYSE:RDW) last announced 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). The company had revenue of $96.97 million for the quarter, compared to analysts’ expectations of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. Redwire’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) earnings per share. On average, equities research analysts forecast that Redwire Corporation will post -0.76 EPS for the current fiscal year.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the sale, the director directly owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. The trade was a 49.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 23,211,433 shares of company stock worth $239,826,208 over the last 90 days. 0.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in Redwire by 2,556.0% during the third quarter. JPMorgan Chase & Co. now owns 577,271 shares of the company’s stock valued at $5,190,000 after purchasing an additional 555,536 shares during the period. Capelight Capital Asset Management LP acquired a new position in Redwire during the fourth quarter valued at $1,330,000. AE Industrial Partners LP lifted its position in Redwire by 7.1% during the third quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after purchasing an additional 6,101,959 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Redwire during the fourth quarter valued at $7,676,000. Finally, Quantbot Technologies LP acquired a new position in Redwire during the third quarter valued at $2,607,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.