Redwire (NYSE:RDW) Shares Up 9% – Still a Buy?

Redwire Corporation (NYSE:RDW)’s share price was up 9% during trading on Wednesday . The company traded as high as $9.48 and last traded at $9.2690. Approximately 9,874,900 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 24,037,287 shares. The stock had previously closed at $8.50.

Analyst Ratings Changes

Several research firms have issued reports on RDW. Canaccord Genuity Group boosted their price target on Redwire from $11.00 to $12.00 and gave the company a “buy” rating in a report on Friday, February 27th. Truist Financial raised Redwire from a “hold” rating to a “buy” rating and lifted their price objective for the company from $13.00 to $15.00 in a research report on Monday, March 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research note on Thursday, January 22nd. HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Redwire in a report on Tuesday, December 23rd. Finally, Roth Mkm restated a “buy” rating and set a $20.00 target price on shares of Redwire in a research note on Wednesday, January 28th. Eight research analysts have rated the stock with 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.89.

Redwire Price Performance

The company has a current ratio of 1.62, a quick ratio of 1.27 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $9.58 and a 200-day simple moving average of $8.53. The firm has a market cap of $1.77 billion, a PE ratio of -3.88 and a beta of 2.50.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.19). The business had revenue of $108.79 million during the quarter, compared to analysts’ expectations of $98.78 million. Redwire had a negative net margin of 67.55% and a negative return on equity of 13.04%. Equities analysts anticipate that Redwire Corporation will post -0.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ae Red Holdings, Llc sold 12,656,683 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $10.51, for a total value of $133,021,738.33. Following the transaction, the director directly owned 61,541,253 shares of the company’s stock, valued at approximately $646,798,569.03. The trade was a 17.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 51,587,273 shares of company stock valued at $557,353,017. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Redwire

Several institutional investors and hedge funds have recently modified their holdings of RDW. Sunbelt Securities Inc. lifted its holdings in shares of Redwire by 601.1% in the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after buying an additional 3,396 shares in the last quarter. CWM LLC grew its stake in 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 acquiring an additional 3,864 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Redwire by 1,054.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after acquiring an additional 3,668 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in Redwire in the 3rd quarter worth $41,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Redwire by 308.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,862 shares of the company’s stock valued at $44,000 after purchasing an additional 3,672 shares during the last quarter. 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.