Redwire (NYSE:RDW) Stock Price Up 3.3% – Time to Buy?

Shares of Redwire Corporation (NYSE:RDW) were up 3.3% on Thursday. The company traded as high as $8.97 and last traded at $8.9050. Approximately 15,944,860 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 25,635,414 shares. The stock had previously closed at $8.62.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Bank of America raised their target price on shares of Redwire from $7.00 to $8.00 and gave the company an “underperform” rating in a report on Monday, August 31st. Wall Street Zen raised shares of Redwire from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Guggenheim assumed coverage on shares of Redwire in a research report on Monday, September 14th. They issued a “neutral” rating on the stock. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group raised their price objective on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.28.

Redwire Stock Down 6.0%

The firm has a fifty day moving average price of $11.06 and a 200-day moving average price of $11.80. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -5.74 and a beta of 3.12.

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. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. The firm had revenue of $117.07 million for the quarter, compared to the consensus estimate of $107.10 million. As a group, sell-side analysts forecast that Redwire Corporation will post -0.73 EPS for the current year.

Insiders Place Their Bets

In other news, Director Ae Red Holdings, Llc sold 929,435 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $11.34, for a total transaction of $10,539,792.90. Following the completion of the sale, the director owned 147,984 shares in the company, valued at approximately $1,678,138.56. The trade was a 86.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Redwire in the second quarter worth $196,514,000. 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 acquiring an additional 6,730,414 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Redwire by 173.0% during the 2nd quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company’s stock valued at $83,791,000 after acquiring an additional 4,341,424 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Redwire during the 2nd quarter worth $16,583,000. Finally, Alyeska Investment Group L.P. purchased a new stake in Redwire during the 2nd quarter worth $11,186,000. 8.10% of the stock is owned by institutional investors and hedge funds.

About Redwire

Redwire Corporation is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its work supports space exploration, national security, civil space programs and the growing commercial space economy.

The company’s offerings include spacecraft platforms, avionics, sensors, deployable structures, solar arrays, in-space manufacturing systems, robotic technologies and components designed for satellite and space station applications.