Redwire (NYSE:RDW) Stock Price Up 11.9% – Here’s Why

Redwire Corporation (NYSE:RDW)’s stock price was up 11.9% on Monday . The stock traded as high as $9.74 and last traded at $9.6450. Approximately 18,878,789 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 29,709,990 shares. The stock had previously closed at $8.62.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RDW shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Friday, July 17th. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Wall Street Zen lowered shares of Redwire from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Jefferies Financial Group raised shares of Redwire to a “hold” rating in a research note on Wednesday, June 10th. Finally, Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.94.

Redwire Price Performance

The company has a market cap of $2.54 billion, a PE ratio of -3.97 and a beta of 3.05. The business has a 50 day moving average of $12.99 and a 200 day moving average of $11.31. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37.

Redwire (NYSE:RDW) last announced its 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 business had revenue of $96.97 million for the quarter, compared to the consensus estimate of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business’s quarterly revenue was up 57.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS. As a group, research analysts predict that Redwire Corporation will post -0.81 EPS for the current year.

Insider Activity at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total value of $22,995,736.20. Following the completion of the sale, the director owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. The trade was a 49.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Redwire

Several large investors have recently made changes to their positions in RDW. Parallel Advisors LLC bought a new stake in shares of Redwire in the first quarter worth about $28,000. KBC Group NV bought a new position in Redwire during the 1st quarter valued at about $29,000. Sunbelt Securities Inc. raised its holdings in shares of Redwire by 601.1% in the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after buying an additional 3,396 shares during the period. CWM LLC lifted its position in shares of Redwire by 1,725.0% during the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after purchasing an additional 3,864 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew 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 worth $31,000 after acquiring an additional 3,668 shares in the last quarter. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.