Redwire (NYSE:RDW) Stock Price Up 1% – Here’s What Happened

Redwire Corporation (NYSE:RDW)’s stock price traded up 1% during trading on Tuesday . The company traded as high as $11.85 and last traded at $11.4950. 10,760,112 shares traded hands during trading, a decline of 62% from the average session volume of 28,527,344 shares. The stock had previously closed at $11.38.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Truist Financial upgraded Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Jefferies Financial Group set a $15.00 price target on Redwire in a report on Sunday, August 9th. Canaccord Genuity Group upped their target price on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Cantor Fitzgerald raised their price target on Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Finally, Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.44.

Redwire Stock Up 1.0%

The firm has a market capitalization of $2.87 billion, a P/E ratio of -7.87 and a beta of 3.05. 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 business’s fifty day moving average price is $11.12 and its two-hundred day moving average price is $11.40.

Redwire (NYSE:RDW) last announced its earnings results 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 return on equity of 11.02% and a negative net margin of 57.26%.The firm had revenue of $117.07 million for the quarter, compared to the consensus estimate of $107.10 million. Equities analysts expect that Redwire Corporation will post -0.68 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total value of $22,995,736.20. Following the completion of the transaction, the director directly owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. This trade represents a 49.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Redwire

Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Redwire in the 2nd quarter worth approximately $196,514,000. Van ECK Associates Corp lifted its stake in Redwire by 173.0% during the 2nd quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company’s stock valued at $83,791,000 after acquiring an additional 4,341,424 shares during the period. Bank of America Corp DE boosted 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 valued at $57,970,000 after acquiring an additional 6,730,414 shares during the last quarter. State Street Corp boosted 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 valued at $35,785,000 after acquiring an additional 1,786,038 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Redwire by 2.9% in the third quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock worth $29,153,000 after acquiring an additional 91,045 shares during the period. Hedge funds and other institutional investors 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.