Redwire Corporation (NYSE:RDW – Get Free Report)’s share price traded up 5.5% during mid-day trading on Wednesday . The stock traded as high as $10.97 and last traded at $10.7750. 5,509,337 shares traded hands during trading, a decline of 83% from the average session volume of 31,630,828 shares. The stock had previously closed at $10.21.
Wall Street Analyst Weigh In
RDW has been the topic of several recent research reports. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. Wall Street Zen downgraded shares of Redwire from a “hold” rating to a “sell” rating in a research report on Saturday. Canaccord Genuity Group raised their target price on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, Jefferies Financial Group raised Redwire to a “hold” rating in a research report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.44.
View Our Latest Stock Analysis on Redwire
Redwire Price Performance
Redwire (NYSE:RDW – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.24). The business had revenue of $96.97 million for the quarter, compared to the consensus estimate of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. Redwire’s revenue for the quarter was up 57.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.09) EPS. On average, equities analysts forecast that Redwire Corporation will post -0.81 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the transaction, the director owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. The trade was a 49.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 12,803,657 shares of company stock valued at $143,429,127 in the last 90 days. Company insiders own 0.79% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Parallel Advisors LLC bought a new stake in shares of Redwire in the first quarter valued at about $28,000. KBC Group NV bought a new stake in shares of Redwire in the 1st quarter worth approximately $29,000. Sunbelt Securities Inc. grew its holdings in shares of Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after purchasing an additional 3,396 shares in the last quarter. CWM LLC increased its position in shares of Redwire by 1,725.0% during the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after purchasing an additional 3,864 shares during the period. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Redwire by 1,054.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after purchasing an additional 3,668 shares in the last quarter. Institutional investors and hedge funds 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.
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