Redwire (NYSE:RDW) Trading Up 1.4% – What’s Next?

Redwire Corporation (NYSE:RDW)’s share price traded up 1.4% on Tuesday . The stock traded as high as $11.90 and last traded at $11.7630. Approximately 12,503,998 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 26,804,514 shares. The stock had previously closed at $11.60.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RDW shares. Canaccord Genuity Group increased their target price on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Guggenheim assumed coverage on shares of Redwire in a research note on Monday, September 14th. They set a “neutral” rating for the company. Jefferies Financial Group set a $15.00 price target on Redwire in a report on Sunday, August 9th. Finally, Wall Street Zen raised Redwire from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.69.

Redwire Stock Up 1.4%

The firm’s 50 day moving average is $10.75 and its 200-day moving average is $11.68. The firm has a market cap of $2.94 billion, a PE ratio of -8.06 and a beta of 3.08. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03.

Redwire (NYSE:RDW) last released its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.07. The firm had revenue of $117.07 million for 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%. As a group, equities research analysts expect that Redwire Corporation will post -0.7 earnings per share for the current fiscal year.

Institutional Trading of Redwire

Institutional investors have recently added to or reduced their stakes in the business. Bouchey Financial Group Ltd. acquired a new stake in shares of Redwire in the second quarter valued at about $141,000. Tidal Investments LLC bought a new stake in shares of Redwire in the 2nd quarter valued at approximately $7,717,000. Integrated Wealth Concepts LLC acquired a new position in shares of Redwire in the 2nd quarter valued at about $635,000. IFP Advisors Inc boosted its stake in Redwire by 3,662.5% in the second quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock valued at $44,000 after acquiring an additional 3,516 shares during the period. Finally, Allworth Financial LP grew its stake in Redwire by 160.5% during the 2nd quarter. Allworth Financial LP now owns 7,341 shares of the company’s stock worth $90,000 after buying an additional 4,523 shares during the last quarter. 8.10% of the stock is owned by hedge funds and other institutional investors.

Redwire Company Profile

Redwire Corporation is a space infrastructure and technology company that develops products and services for government, commercial and international space customers. Its capabilities support the design, manufacture and operation of spacecraft, space systems and related infrastructure across missions in low Earth orbit and beyond.

The company’s offerings include digital engineering and mission-support services, spacecraft platforms, avionics, sensors, power systems, deployable structures and solar arrays.