Redwire (NYSE:RDW) Stock Price Up 1.9% – Here’s Why

Redwire Corporation (NYSE:RDW) shot up 1.9% during trading on Friday . The company traded as high as $12.33 and last traded at $11.99. 11,408,950 shares were traded during trading, a decline of 60% from the average session volume of 28,738,629 shares. The stock had previously closed at $11.77.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RDW shares. Canaccord Genuity Group boosted their price objective on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Wall Street Zen raised shares of Redwire from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Thursday, August 6th. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group set a $15.00 price target on shares of Redwire in a research report on Sunday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $14.44.

Redwire Trading Up 1.9%

The firm has a market cap of $3.00 billion, a PE ratio of -8.21 and a beta of 3.05. The firm has a fifty day simple moving average of $11.25 and a two-hundred day simple moving average of $11.39. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03.

Redwire (NYSE:RDW) last announced its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. The company had revenue of $117.07 million during the quarter, compared to the consensus estimate of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. Equities analysts forecast that Redwire Corporation will post -0.68 EPS for the current year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the transaction, the director directly owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. The trade was a 49.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Redwire

Several hedge funds and other institutional investors have recently modified their holdings of RDW. Farther Finance Advisors LLC boosted its holdings in shares of Redwire by 4.4% during the 4th quarter. Farther Finance Advisors LLC now owns 20,897 shares of the company’s stock valued at $159,000 after buying an additional 877 shares in the last quarter. Parvin Asset Management LLC increased its stake in shares of Redwire by 6.9% in the 1st quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock worth $152,000 after acquiring an additional 1,150 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Redwire by 32.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock valued at $102,000 after acquiring an additional 1,533 shares during the period. BNP Paribas Financial Markets lifted its position in Redwire by 12.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 30,396 shares of the company’s stock valued at $495,000 after acquiring an additional 3,248 shares during the period. Finally, Parallel Advisors LLC bought a new stake in Redwire during the first quarter worth about $28,000. Hedge funds and other 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.