Redwire (NYSE:RDW) Stock Price Up 2.8% – Should You Buy?

Redwire Corporation (NYSE:RDW)’s stock price was up 2.8% on Friday . The company traded as high as $14.02 and last traded at $13.5720. 14,125,915 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 29,198,400 shares. The stock had previously closed at $13.20.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RDW. Alliance Global Partners restated a “buy” rating on shares of Redwire in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Jefferies Financial Group set a $15.00 target price on shares of Redwire in a research report on Sunday, August 9th. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Canaccord Genuity Group lifted their price target on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, August 10th. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $14.44.

Redwire Price Performance

The company has a quick ratio of 1.37, a current ratio of 3.92 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.24 billion, a P/E ratio of -9.30 and a beta of 3.05. The business’s 50-day simple moving average is $11.56 and its two-hundred day simple moving average is $11.39.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.07. The company had revenue of $117.07 million for 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 11.02%. Sell-side analysts expect that Redwire Corporation will post -0.68 EPS for the current year.

Insider Activity

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total value of $22,995,736.20. Following the completion of the transaction, the director directly owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. This trade represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is currently owned by corporate insiders.

Institutional Trading of Redwire

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Redwire during the 2nd quarter valued at about $196,514,000. Bank of America Corp DE lifted its holdings in shares of Redwire by 7,512.5% in the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock worth $57,970,000 after buying an additional 6,730,414 shares in the last quarter. State Street Corp lifted its holdings in shares of Redwire by 61.1% in the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after buying an additional 1,786,038 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Redwire in the second quarter valued at approximately $16,583,000. Finally, UBS Group AG grew its stake in Redwire by 140.8% during the fourth quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after acquiring an additional 1,192,885 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

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.