Redwire (NYSE:RDW) Trading Up 11.3% – Here’s What Happened

Shares of Redwire Corporation (NYSE:RDW) traded up 11.3% during mid-day trading on Monday . The stock traded as high as $10.40 and last traded at $10.0910. 6,582,942 shares were traded during trading, a decline of 76% from the average session volume of 27,358,248 shares. The stock had previously closed at $9.07.

Analysts Set New Price Targets

A number of research firms recently weighed in on RDW. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective on shares of Redwire in a research report on Tuesday, December 23rd. Canaccord Genuity Group set a $12.00 target price on shares of Redwire in a report on Friday. Truist Financial set a $13.00 price target on Redwire in a report on Friday, January 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Thursday, January 22nd. Finally, Alliance Global Partners reissued a “buy” rating on shares of Redwire in a report on Thursday, November 6th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.88.

Redwire Trading Up 2.9%

The firm has a market capitalization of $1.54 billion, a P/E ratio of -3.93 and a beta of 2.50. The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $9.69 and a 200 day simple moving average of $8.47.

Redwire (NYSE:RDW) last issued its earnings results on Wednesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.19). Redwire had a negative net margin of 67.55% and a negative return on equity of 15.65%. The business had revenue of $108.79 million for the quarter, compared to the consensus estimate of $98.78 million. As a group, research analysts forecast that Redwire Corporation will post -0.85 EPS for the current year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 12,656,683 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $10.51, for a total transaction of $133,021,738.33. Following the transaction, the director owned 61,541,253 shares of the company’s stock, valued at approximately $646,798,569.03. This trade represents a 17.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 40,400,346 shares of company stock worth $453,127,301. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RDW. Sunbelt Securities Inc. increased its holdings in shares of Redwire by 601.1% during the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after acquiring an additional 3,396 shares in the last quarter. CWM LLC raised its position in Redwire by 1,725.0% during the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after buying an additional 3,864 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Redwire in the 3rd quarter valued at $41,000. Russell Investments Group Ltd. raised its holdings in shares of Redwire by 308.6% during the third quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock worth $44,000 after purchasing an additional 3,672 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Redwire by 32.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after purchasing an additional 1,533 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.