Redwire (NYSE:RDW) Trading 1.8% Higher – Should You Buy?

Redwire Corporation (NYSE:RDW)’s share price shot up 1.8% on Tuesday . The company traded as high as $10.20 and last traded at $9.76. Approximately 13,188,754 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 31,148,963 shares. The stock had previously closed at $9.59.

Analyst Upgrades and Downgrades

RDW has been the topic of several research reports. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Wall Street Zen cut Redwire from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Jefferies Financial Group upgraded Redwire to a “hold” rating in a research report on Wednesday, June 10th. Canaccord Genuity Group upped their price target on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.44.

Redwire Stock Up 1.8%

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 stock has a market cap of $2.33 billion, a price-to-earnings ratio of -3.64 and a beta of 3.01. The firm has a 50 day simple moving average of $14.45 and a two-hundred day simple moving average of $11.32.

Redwire (NYSE:RDW) last posted its 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 company had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.Redwire’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. As a group, sell-side analysts expect that Redwire Corporation will post -0.81 EPS for the current year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 3,145,207 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $10.57, for a total value of $33,244,837.99. Following the completion of the sale, the director owned 26,273,144 shares of the company’s stock, valued at approximately $277,707,132.08. This represents a 10.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 9,687,503 shares of company stock worth $113,280,257 in the last ninety days. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Redwire

Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC acquired a new stake in Redwire during the 1st quarter worth $28,000. KBC Group NV acquired a new position in Redwire in the first quarter valued at about $29,000. Sunbelt Securities Inc. increased its holdings in shares of Redwire by 601.1% in the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after acquiring an additional 3,396 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Redwire by 1,054.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after purchasing an additional 3,668 shares during the period. Finally, CWM LLC raised its position in shares of Redwire by 1,725.0% during the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after purchasing an additional 3,864 shares during the period. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.