Shares of Redwire Corporation (NYSE:RDW – Get Free Report) traded up 6.1% on Wednesday . The stock traded as high as $14.98 and last traded at $14.32. Approximately 35,492,894 shares changed hands during mid-day trading, an increase of 10% from the average daily volume of 32,284,563 shares. The stock had previously closed at $13.50.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the stock. Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. Canaccord Genuity Group upped their target price on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Jefferies Financial Group raised shares of Redwire to a “hold” rating in a research note on Wednesday, June 10th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.44.
Read Our Latest Stock Analysis on RDW
Redwire Stock Down 0.5%
Redwire (NYSE:RDW – Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($0.40) 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 firm had revenue of $96.97 million for the quarter, compared to the consensus estimate of $105.94 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The firm’s revenue was up 57.9% compared to the same quarter last year. As a group, analysts expect that Redwire Corporation will post -0.76 earnings per share for the current year.
Insider Buying and Selling
In other Redwire news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the stock in a transaction on Tuesday, March 24th. The shares were 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 $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 Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 23,211,433 shares of company stock worth $239,826,208 in the last three months. 0.79% of the stock is owned by company insiders.
Institutional Trading of Redwire
Several hedge funds have recently made changes to their positions in RDW. Militia Capital Management LLC bought a new position in shares of Redwire in the 1st quarter valued at about $281,000. Parallel Advisors LLC bought a new stake in Redwire during the first quarter worth approximately $28,000. Bank of America Corp DE raised its position in Redwire by 7,512.5% during the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after purchasing an additional 6,730,414 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Redwire by 157.5% in the 1st quarter. Janus Henderson Group PLC now owns 54,600 shares of the company’s stock valued at $463,000 after purchasing an additional 33,400 shares during the last quarter. Finally, Amundi lifted its stake in shares of Redwire by 55.4% in the 1st quarter. Amundi now owns 40,197 shares of the company’s stock valued at $342,000 after purchasing an additional 14,337 shares during the last quarter. 8.10% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Articles
- Five stocks we like better than Redwire
- VMware: Broadcom’s Second Biggest Business Set to Accelerate
- Buyback Capacity Is Rising Across 3 Soaring and Sinking Stocks
- How to Invest in the Biggest European Defense Surge in Decades
- The Netflix-Lionsgate Rumor Exposed a Bigger Shift in Media M&A
Receive News & Ratings for Redwire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redwire and related companies with MarketBeat.com's FREE daily email newsletter.
