Redwire (NYSE:RDW) Trading 13.9% Higher – Here’s What Happened

Redwire Corporation (NYSE:RDWGet Free Report) shares traded up 13.9% during trading on Friday . The company traded as high as $17.89 and last traded at $17.4850. 54,939,984 shares changed hands during mid-day trading, an increase of 101% from the average session volume of 27,280,779 shares. The stock had previously closed at $15.35.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Canaccord Genuity Group increased 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. Jefferies Financial Group reiterated a “buy” rating and issued a $13.00 price target on shares of Redwire in a research note on Sunday, May 10th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. Finally, Roth Mkm reiterated a “buy” rating and issued a $20.00 price target on shares of Redwire in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Redwire has an average rating of “Moderate Buy” and an average price target of $14.22.

Read Our Latest Analysis on Redwire

Redwire Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75. The stock has a fifty day simple moving average of $10.26 and a two-hundred day simple moving average of $9.01. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of -6.52 and a beta of 2.41.

Redwire (NYSE:RDWGet Free Report) last issued its quarterly earnings results 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). Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The business had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. During the same quarter in the previous year, the business posted ($0.09) earnings per share. The business’s revenue was up 57.9% on a year-over-year basis. Analysts forecast that Redwire Corporation will post -0.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 977,887 shares of the stock in a transaction dated 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 directly owned 21,494,349 shares in the company, valued at approximately $227,195,268.93. This trade represents a 4.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 23,327,795 shares of company stock worth $228,806,188. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

A number of large investors have recently bought and sold shares of RDW. AQR Capital Management LLC grew its holdings in Redwire by 125.0% during the 1st quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock worth $426,000 after acquiring an additional 28,576 shares during the period. Goldman Sachs Group Inc. grew its holdings in Redwire by 352.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after acquiring an additional 276,814 shares during the period. Strs Ohio acquired a new stake in Redwire during the 1st quarter worth about $69,000. Rhumbline Advisers grew its holdings in Redwire by 61.0% during the 2nd quarter. Rhumbline Advisers now owns 56,517 shares of the company’s stock worth $921,000 after acquiring an additional 21,417 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Redwire by 57.6% in the 2nd quarter. Invesco Ltd. now owns 21,198 shares of the company’s stock valued at $346,000 after buying an additional 7,750 shares during the period. 8.10% of the stock is currently owned by institutional investors and hedge funds.

About Redwire

(Get Free Report)

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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