Redwire (NYSE:RDW) Trading Up 2.3% – Here’s Why

Redwire Corporation (NYSE:RDW)’s share price traded up 2.3% on Tuesday . The stock traded as high as $10.94 and last traded at $10.7360. Approximately 10,275,375 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 27,106,670 shares. The stock had previously closed at $10.49.

Wall Street Analysts Forecast Growth

RDW has been the topic of a number of research reports. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Guggenheim assumed coverage on Redwire in a research note on Monday. They set a “neutral” rating on the stock. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Cantor Fitzgerald lifted their target price on Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Redwire presently has a consensus rating of “Hold” and a consensus target price of $14.69.

Redwire Price Performance

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 company has a market cap of $2.87 billion, a PE ratio of -7.86 and a beta of 3.08. The company’s 50-day simple moving average is $10.68 and its 200 day simple moving average is $11.64.

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 analysts’ consensus estimates of ($0.16) by $0.07. The business had revenue of $117.07 million for the quarter, compared to analyst estimates of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. On average, sell-side analysts predict that Redwire Corporation will post -0.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Redwire

Several large investors have recently bought and sold shares of RDW. Bouchey Financial Group Ltd. acquired a new stake in Redwire in the 2nd quarter valued at about $141,000. Tidal Investments LLC purchased a new stake in shares of Redwire during the second quarter worth approximately $7,717,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Redwire during the second quarter worth approximately $635,000. IFP Advisors Inc raised its holdings in Redwire by 3,662.5% in the second quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock valued at $44,000 after acquiring an additional 3,516 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in Redwire by 160.5% in the second quarter. Allworth Financial LP now owns 7,341 shares of the company’s stock worth $90,000 after acquiring an additional 4,523 shares during the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

About Redwire

Redwire Corporation is a space infrastructure and technology company that develops products and services for government, commercial and international space customers. Its capabilities support the design, manufacture and operation of spacecraft, space systems and related infrastructure across missions in low Earth orbit and beyond.

The company’s offerings include digital engineering and mission-support services, spacecraft platforms, avionics, sensors, power systems, deployable structures and solar arrays.