Redwire (NYSE:RDW) Trading Up 3.8% – Should You Buy?

Redwire Corporation (NYSE:RDWGet Free Report)’s share price was up 3.8% during trading on Thursday . The stock traded as high as $15.39 and last traded at $15.3330. Approximately 44,061,229 shares traded hands during mid-day trading, an increase of 63% from the average daily volume of 26,988,939 shares. The stock had previously closed at $14.77.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RDW. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Roth Mkm reaffirmed a “buy” rating and set a $20.00 price objective on shares of Redwire in a report on Wednesday, January 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $13.00 price objective on shares of Redwire in a research note on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.22.

Read Our Latest Analysis on Redwire

Redwire Price Performance

The business’s fifty day moving average is $10.14 and its 200-day moving average is $8.95. 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 firm has a market cap of $2.94 billion, a PE ratio of -5.72 and a beta of 2.41.

Redwire (NYSE:RDWGet Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The company had revenue of $96.97 million for the quarter, compared to analysts’ expectations of $105.94 million. During the same quarter last year, the business posted ($0.09) EPS. The business’s quarterly revenue was up 57.9% on a year-over-year basis. On average, research analysts predict that Redwire Corporation will post -0.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $9.15, for a total value of $68,625,000.00. Following the transaction, the director owned 36,135,217 shares in the company, valued at approximately $330,637,235.55. This represents a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 23,327,795 shares of company stock valued at $228,806,188 in the last quarter. 0.79% of the stock is currently owned by corporate insiders.

Institutional Trading of Redwire

Hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC purchased a new stake in Redwire in the 1st quarter worth about $28,000. KBC Group NV purchased a new stake in Redwire in the 1st quarter worth about $29,000. Sunbelt Securities Inc. increased its holdings in Redwire by 601.1% in the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after acquiring an additional 3,396 shares during the last quarter. CWM LLC boosted its position in 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. Finally, Rockefeller Capital Management L.P. boosted its position in 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. 8.10% of the stock is currently owned by institutional investors.

Redwire Company Profile

(Get Free Report)

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.

Further Reading

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