Shares of Redwire Corporation (NYSE:RDW – Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $18.57, but opened at $17.00. Redwire shares last traded at $17.05, with a volume of 18,673,336 shares traded.
Redwire News Summary
Here are the key news stories impacting Redwire this week:
- Positive Sentiment: Redwire remains a high-growth “picks and shovels” space infrastructure play, and some investors see the company as a beneficiary of broader enthusiasm for space stocks. The unusual call option activity also suggests speculative interest in the shares. MarketBeat unusual options activity
- Neutral Sentiment: Coverage around SpaceX’s upcoming IPO has put the space sector in the spotlight, which may be drawing more attention to Redwire as an adjacent public-space company. Redwire stock page
- Negative Sentiment: The expanded ATM program raises dilution concerns because issuing more shares can weigh on existing shareholders and signal that management wants flexibility to fund operations or acquisitions. Redwire establishes expanded ATM equity program
- Negative Sentiment: Commentary specifically tied Redwire’s drop to the $500 million equity program, with investors questioning whether dilution could slow the company’s growth story. Redwire’s US$500 Million ATM Raises Dilution Questions For Growth Story
Analysts Set New Price Targets
Several research analysts recently weighed in on RDW shares. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Jefferies Financial Group upgraded shares of Redwire to a “hold” rating in a research report on Wednesday. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Canaccord Genuity Group increased their price target on shares of Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.44.
Redwire Stock Performance
The stock has a market cap of $2.85 billion, a PE ratio of -5.55 and a beta of 2.92. 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 business has a 50 day moving average price of $13.29 and a two-hundred day moving average price of $10.38.
Redwire (NYSE:RDW – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). The company had revenue of $96.97 million for the quarter, compared to analysts’ expectations of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business’s revenue for the quarter was up 57.9% compared to the same quarter last year. During the same period last year, the company posted ($0.09) EPS. As a group, equities research analysts forecast that Redwire Corporation will post -0.76 EPS for the current fiscal year.
Insider Buying and Selling at Redwire
In other news, Director Ae Red Holdings, Llc sold 977,887 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $10.57, for a total transaction of $10,336,265.59. Following the completion of the sale, the director owned 21,494,349 shares of the company’s stock, valued at approximately $227,195,268.93. This represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 23,327,795 shares of company stock worth $228,806,188 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.
Institutional Trading of Redwire
A number of institutional investors have recently made changes to their positions in RDW. AE Industrial Partners LP lifted its stake in Redwire by 7.1% in the third quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock worth $823,472,000 after acquiring an additional 6,101,959 shares during the period. Bank of America Corp DE lifted its stake in Redwire by 7,512.5% in the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock worth $57,970,000 after acquiring an additional 6,730,414 shares during the period. State Street Corp lifted its stake in Redwire by 61.1% in the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after acquiring an additional 1,786,038 shares during the period. Vanguard Group Inc. lifted its stake in 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. Finally, UBS Group AG lifted its stake in Redwire by 140.8% in the fourth quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock worth $15,503,000 after acquiring an additional 1,192,885 shares during the period. Hedge funds and other 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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