Redwire (NYSE:RDW) Shares Up 2.6% – What’s Next?

Redwire Corporation (NYSE:RDW)’s share price was up 2.6% during trading on Thursday. The stock traded as high as $11.85 and last traded at $11.5650. 14,259,074 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 26,659,029 shares. The stock had previously closed at $11.27.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RDW shares. Bank of America boosted their price objective on Redwire from $7.00 to $8.00 and gave the company an “underperform” rating in a research report on Monday, August 31st. Jefferies Financial Group set a $15.00 price target on shares of Redwire in a report on Sunday, August 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Cantor Fitzgerald lifted their target price on shares of Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Finally, Canaccord Genuity Group increased their price target on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.69.

Redwire Stock Up 2.6%

The firm has a 50 day simple moving average of $10.83 and a two-hundred day simple moving average of $11.72. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of -7.92 and a beta of 3.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48.

Redwire (NYSE:RDW) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. The business had revenue of $117.07 million during the quarter, compared to analysts’ expectations of $107.10 million. As a group, sell-side analysts expect that Redwire Corporation will post -0.7 EPS for the current year.

Hedge Funds Weigh In On Redwire

Large investors have recently bought and sold shares of the company. Parallel Advisors LLC bought a new position in shares of Redwire during the 1st quarter worth approximately $28,000. KBC Group NV acquired a new position in Redwire during the first quarter worth $29,000. Rockefeller Capital Management L.P. increased its stake in Redwire by 1,054.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after buying an additional 3,668 shares during the last quarter. IFP Advisors Inc lifted its position in Redwire by 3,662.5% during the 2nd quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock worth $44,000 after buying an additional 3,516 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in Redwire during the 2nd quarter worth about $57,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.