Redwire (NYSE:RDW) Shares Up 4% – Here’s What Happened

Redwire Corporation (NYSE:RDW) was up 4% on Wednesday . The company traded as high as $10.97 and last traded at $10.6230. 14,168,773 shares were traded during trading, a decline of 55% from the average session volume of 31,710,980 shares. The stock had previously closed at $10.21.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RDW. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Canaccord Genuity Group lifted their target price on Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Jefferies Financial Group raised shares of Redwire to a “hold” rating in a research report on Wednesday, June 10th. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Wall Street Zen cut shares of Redwire from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.44.

Redwire Stock Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37. The stock has a market cap of $2.54 billion, a P/E ratio of -3.96 and a beta of 3.01. The stock has a 50-day simple moving average of $14.36 and a 200-day simple moving average of $11.26.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, May 6th. The company reported ($0.40) EPS 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 company had revenue of $96.97 million during the quarter, compared to the consensus estimate of $105.94 million. During the same period last year, the company posted ($0.09) EPS. The firm’s revenue was up 57.9% compared to the same quarter last year. Research analysts forecast that Redwire Corporation will post -0.81 earnings per share for the current year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 3,145,207 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $10.57, for a total value of $33,244,837.99. Following the sale, the director owned 26,273,144 shares in the company, valued at $277,707,132.08. This trade represents a 10.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 12,803,657 shares of company stock valued at $143,429,127. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC acquired a new position in shares of Redwire in the first quarter worth approximately $28,000. KBC Group NV acquired a new stake in Redwire during the 1st quarter valued at approximately $29,000. Sunbelt Securities Inc. raised its holdings in 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 during the last quarter. CWM LLC lifted its position in shares of Redwire by 1,725.0% in the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after purchasing an additional 3,864 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Redwire by 1,054.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after purchasing an additional 3,668 shares during the period. 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.