Redwire (NYSE:RDW) Shares Gap Up – Should You Buy?

Shares of Redwire Corporation (NYSE:RDW) gapped up before the market opened on Monday . The stock had previously closed at $8.69, but opened at $9.15. Redwire shares last traded at $9.20, with a volume of 1,065,803 shares traded.

Analyst Ratings Changes

Several research analysts have recently weighed in on RDW shares. Roth Capital reaffirmed a “buy” rating on shares of Redwire in a research report on Tuesday, June 24th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective (down from $26.00) on shares of Redwire in a research report on Friday, August 8th. Wall Street Zen cut Redwire from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 9th. Canaccord Genuity Group reduced their price objective on Redwire from $21.00 to $17.50 and set a “buy” rating for the company in a research report on Monday, August 11th. Finally, Truist Financial set a $16.00 price objective on Redwire and gave the stock a “hold” rating in a research report on Thursday, June 26th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.07.

Redwire Stock Performance

The company has a market cap of $1.33 billion, a P/E ratio of -2.82 and a beta of 2.49. The company has a quick ratio of 1.11, a current ratio of 1.46 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $12.13 and a two-hundred day moving average price of $12.45.

Redwire (NYSE:RDW) last announced its earnings results on Wednesday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.28). The firm had revenue of $61.76 million for the quarter, compared to the consensus estimate of $80.48 million. Redwire had a negative return on equity of 32.67% and a negative net margin of 71.95%. On average, research analysts predict that Redwire Corporation will post -0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Redwire

A number of hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. increased its stake in Redwire by 31.7% during the 2nd quarter. Osaic Holdings Inc. now owns 15,983 shares of the company’s stock worth $261,000 after acquiring an additional 3,851 shares during the period. AE Industrial Partners LP increased its stake in Redwire by 139.3% during the 2nd quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock worth $1,394,000 after acquiring an additional 49,765,262 shares during the period. Hudson Bay Capital Management LP bought a new position in Redwire during the 2nd quarter worth $2,139,000. Tower Research Capital LLC TRC increased its stake in Redwire by 32.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after acquiring an additional 1,533 shares during the period. Finally, Sender Co & Partners Inc. increased its stake in Redwire by 184.0% during the 2nd quarter. Sender Co & Partners Inc. now owns 78,966 shares of the company’s stock worth $1,287,000 after acquiring an additional 51,164 shares during the period. Institutional investors own 8.10% of the company’s stock.

Redwire Company Profile

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.