Shares of Redwire Corporation (NYSE:RDW – Get Free Report) rose 3.1% during mid-day trading on Tuesday after Canaccord Genuity Group raised their price target on the stock from $14.00 to $15.00. Canaccord Genuity Group currently has a buy rating on the stock. Redwire traded as high as $13.67 and last traded at $13.5230. 16,886,314 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 29,465,209 shares. The stock had previously closed at $13.12.
Several other analysts have also recently issued reports on RDW. Jefferies Financial Group set a $15.00 target price on Redwire in a research note on Sunday. Cantor Fitzgerald upped their price target on Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a report on Saturday. Truist Financial upgraded Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Redwire currently has a consensus rating of “Hold” and an average target price of $14.44.
Read Our Latest Stock Analysis on RDW
Insider Buying and Selling at Redwire
Hedge Funds Weigh In On Redwire
A number of hedge funds have recently bought and sold shares of RDW. Farther Finance Advisors LLC grew its position in Redwire by 4.4% during the 4th quarter. Farther Finance Advisors LLC now owns 20,897 shares of the company’s stock valued at $159,000 after purchasing an additional 877 shares during the last quarter. Parvin Asset Management LLC raised its holdings in Redwire by 6.9% in the first quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock worth $152,000 after buying an additional 1,150 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Redwire by 32.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after buying an additional 1,533 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Redwire by 12.0% in the second quarter. BNP Paribas Financial Markets now owns 30,396 shares of the company’s stock worth $495,000 after buying an additional 3,248 shares in the last quarter. Finally, Parallel Advisors LLC purchased a new stake in shares of Redwire during the first quarter valued at approximately $28,000. Institutional investors own 8.10% of the company’s stock.
Redwire Trading Up 3.1%
The stock has a market cap of $3.23 billion, a PE ratio of -9.26 and a beta of 3.05. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average price is $12.07 and its 200 day moving average price is $11.34.
Redwire (NYSE:RDW – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. The company had revenue of $117.07 million during the quarter, compared to analyst estimates of $107.10 million. Redwire had a negative net margin of 57.26% and a negative return on equity of 12.65%. On average, sell-side analysts forecast that Redwire Corporation will post -0.88 EPS for the current year.
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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