Redwire (NYSE:RDW) Stock Price Up 1.4% – Still a Buy?

Redwire Corporation (NYSE:RDW) shot up 1.4% on Thursday. The company traded as high as $10.95 and last traded at $10.5850. 12,488,329 shares changed hands during trading, a decline of 52% from the average daily volume of 26,280,484 shares. The stock had previously closed at $10.44.

Analysts Set New Price Targets

Several research firms have issued reports on RDW. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Canaccord Genuity Group increased their target price on Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research report on Thursday, August 6th. Cantor Fitzgerald lifted their price target on shares of Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen raised shares of Redwire from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $14.69.

Redwire Price Performance

The company’s fifty day moving average price is $11.13 and its 200 day moving average price is $11.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of -7.45 and a beta of 3.12.

Redwire (NYSE:RDW) last released its quarterly earnings data 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 net margin of 57.26% and a negative return on equity of 11.02%. The firm had revenue of $117.07 million for the quarter, compared to analyst estimates of $107.10 million. Equities research analysts expect that Redwire Corporation will post -0.7 earnings per share for the current year.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 929,435 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 147,984 shares in the company, valued at approximately $1,678,138.56. This represents 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 the SEC website. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parvin Asset Management LLC increased its holdings in shares of Redwire by 6.9% in the 1st quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock worth $152,000 after acquiring an additional 1,150 shares during the period. Parallel Advisors LLC acquired a new position in Redwire during the 1st quarter valued at about $28,000. KBC Group NV acquired a new position in Redwire during the 1st quarter valued at about $29,000. IFP Advisors Inc grew its position in Redwire by 3,662.5% in the 2nd quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock worth $44,000 after purchasing an additional 3,516 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its position 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 worth $31,000 after purchasing an additional 3,668 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.