Redwire Corporation (NYSE:RDW – Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $17.49, but opened at $19.65. Redwire shares last traded at $21.87, with a volume of 31,246,134 shares changing hands.
Analysts Set New Price Targets
Several analysts have issued reports on the company. Canaccord Genuity Group lifted their price target on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Roth Mkm reaffirmed a “buy” rating and issued a $20.00 target price on shares of Redwire in a research report on Wednesday, January 28th. Finally, Truist Financial raised Redwire to a “strong-buy” rating in a research report on Friday, May 1st. One equities research 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.22.
Read Our Latest Research Report on RDW
Redwire Trading Up 27.7%
Redwire (NYSE:RDW – Get Free Report) last released its earnings results 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 net margin of 80.90% and a negative return on equity of 11.68%. The company had revenue of $96.97 million during the quarter, compared to analyst estimates of $105.94 million. During the same period in the prior year, the firm posted ($0.09) EPS. Redwire’s revenue was up 57.9% compared to the same quarter last year. Research analysts anticipate that Redwire Corporation will post -0.7 EPS for the current year.
Insider Buying and Selling
In related news, Director Ae Red Holdings, Llc sold 7,500,000 shares of Redwire stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $9.15, for a total transaction of $68,625,000.00. Following the completion of the transaction, the director owned 36,135,217 shares in the company, valued at approximately $330,637,235.55. This trade represents a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 23,327,795 shares of company stock worth $228,806,188 in the last three months. Company insiders own 0.79% of the company’s stock.
Hedge Funds Weigh In On Redwire
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its holdings in Redwire by 4.4% during the fourth quarter. Farther Finance Advisors LLC now owns 20,897 shares of the company’s stock worth $159,000 after purchasing an additional 877 shares during the period. Parvin Asset Management LLC grew its holdings in Redwire by 6.9% during the first quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock worth $152,000 after purchasing an additional 1,150 shares during the period. Tower Research Capital LLC TRC grew its holdings in Redwire by 32.3% during the second 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. Jones Financial Companies Lllp grew its holdings in Redwire by 24.0% during the third quarter. Jones Financial Companies Lllp now owns 12,617 shares of the company’s stock worth $111,000 after purchasing an additional 2,442 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Redwire by 12.0% during the second quarter. BNP Paribas Financial Markets now owns 30,396 shares of the company’s stock worth $495,000 after acquiring an additional 3,248 shares during the period. 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.
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