Redwire (NYSE:RDW) Stock Price Up 1.9% – Still a Buy?

Redwire Corporation (NYSE:RDW) shares were up 1.9% during mid-day trading on Friday . The company traded as high as $12.33 and last traded at $11.99. 11,408,950 shares changed hands during trading, a decline of 60% from the average daily volume of 28,738,629 shares. The stock had previously closed at $11.77.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RDW. Cantor Fitzgerald lifted their target price on Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Wall Street Zen raised shares of Redwire from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Truist Financial raised shares of Redwire to a “strong-buy” rating in a report on Friday, May 1st. Finally, Jefferies Financial Group set a $15.00 price target on shares of Redwire in a report on Sunday, August 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $14.44.

Redwire Trading Up 1.9%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92. The stock has a market cap of $3.00 billion, a P/E ratio of -8.21 and a beta of 3.05. The stock has a 50-day moving average price of $11.25 and a 200-day moving average price of $11.39.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. The company had revenue of $117.07 million for the quarter, compared to analysts’ expectations of $107.10 million. On average, equities research analysts expect that Redwire Corporation will post -0.68 EPS for the current year.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm’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 owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RDW. Parallel Advisors LLC bought a new stake in Redwire during the first quarter worth about $28,000. KBC Group NV purchased a new position in shares of Redwire in the 1st quarter worth about $29,000. Sunbelt Securities Inc. increased its position in shares of Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after purchasing an additional 3,396 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Redwire by 1,054.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after purchasing an additional 3,668 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Redwire by 1,725.0% during the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after buying an additional 3,864 shares in 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.