Redwire (NYSE:RDW) Trading 9% Higher – Time to Buy?

Redwire Corporation (NYSE:RDW) shares shot up 9% on Wednesday . The company traded as high as $24.92 and last traded at $24.0180. 119,911,794 shares were traded during mid-day trading, an increase of 313% from the average session volume of 29,022,869 shares. The stock had previously closed at $22.04.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RDW. Canaccord Genuity Group lifted their price target on Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. Jefferies Financial Group reissued a “buy” rating and issued a $13.00 price target on shares of Redwire in a research note on Sunday, May 10th. Finally, Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.22.

Redwire Trading Up 9.0%

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 company has a 50 day simple moving average of $10.83 and a two-hundred day simple moving average of $9.26. The company has a market cap of $4.61 billion, a PE ratio of -8.96 and a beta of 2.41.

Redwire (NYSE:RDW) last released 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). Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business had revenue of $96.97 million for the quarter, compared to analysts’ expectations of $105.94 million. During the same period last year, the firm earned ($0.09) EPS. The company’s revenue was up 57.9% compared to the same quarter last year. Sell-side analysts forecast that Redwire Corporation will post -0.7 EPS for the current year.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 7,500,000 shares of Redwire stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $9.15, for a total transaction of $68,625,000.00. Following the transaction, the director owned 36,135,217 shares of the company’s stock, valued at $330,637,235.55. The trade was a 17.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 23,327,795 shares of company stock worth $228,806,188. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

Several institutional investors have recently made changes to their positions in RDW. Bank of America Corp DE lifted its holdings in shares of Redwire by 7,512.5% during the 1st quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after buying an additional 6,730,414 shares during the last quarter. AE Industrial Partners LP lifted its holdings in shares of Redwire by 7.1% during the 3rd quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after buying an additional 6,101,959 shares during the last quarter. State Street Corp lifted its holdings in shares of Redwire by 61.1% during the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after buying an additional 1,786,038 shares during the last quarter. UBS Group AG lifted its holdings in shares of Redwire by 140.8% during the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after buying an additional 1,192,885 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Redwire during the 4th quarter valued at about $7,676,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.