Redwire (NYSE:RDW) Shares Up 22.3% – Here’s What Happened

Redwire Corporation (NYSE:RDW)’s share price shot up 22.3% during mid-day trading on Thursday . The company traded as high as $14.60 and last traded at $14.0120. 66,917,479 shares changed hands during mid-day trading, an increase of 164% from the average session volume of 25,330,189 shares. The stock had previously closed at $11.46.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RDW. Jefferies Financial Group reissued a “buy” rating and issued a $13.00 target price on shares of Redwire in a research report on Sunday, May 10th. Canaccord Genuity Group boosted their target price on shares of Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Monday. Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Roth Mkm reissued a “buy” rating and issued a $20.00 target price on shares of Redwire in a research report on Wednesday, January 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.22.

Redwire Stock Performance

The firm has a market cap of $2.71 billion, a price-to-earnings ratio of -5.26 and a beta of 2.41. The stock has a 50 day moving average of $9.83 and a 200 day moving average of $8.81. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). The company had revenue of $96.97 million during the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The firm’s revenue for the quarter was up 57.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.09) EPS. As a group, analysts anticipate that Redwire Corporation will post -0.67 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the business’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $9.15, for a total value of $68,625,000.00. Following the completion of the transaction, the director owned 36,135,217 shares of the company’s stock, valued at $330,637,235.55. The trade was a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 23,327,795 shares of company stock valued at $228,806,188 over the last three months. 0.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Andar Capital Management HK Ltd raised its stake in Redwire by 76.5% in the third quarter. Andar Capital Management HK Ltd now owns 300,000 shares of the company’s stock valued at $2,697,000 after purchasing an additional 130,000 shares in the last quarter. Register Financial Advisors LLC raised its stake in Redwire by 46.8% in the third quarter. Register Financial Advisors LLC now owns 327,900 shares of the company’s stock valued at $2,948,000 after purchasing an additional 104,597 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Redwire by 2,556.0% during the third quarter. JPMorgan Chase & Co. now owns 577,271 shares of the company’s stock worth $5,190,000 after acquiring an additional 555,536 shares in the last quarter. Capelight Capital Asset Management LP acquired a new position in Redwire during the fourth quarter worth about $1,330,000. Finally, AE Industrial Partners LP raised its stake in Redwire by 7.1% during the third quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock worth $823,472,000 after acquiring an additional 6,101,959 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Redwire Company Profile

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.