Redwire (NYSE:RDW) Stock Price Up 9.8% – Still a Buy?

Shares of Redwire Corporation (NYSE:RDW) rose 9.8% during mid-day trading on Monday . The company traded as high as $12.87 and last traded at $12.1520. Approximately 46,717,918 shares traded hands during mid-day trading, an increase of 89% from the average daily volume of 24,781,432 shares. The stock had previously closed at $11.07.

Analyst Upgrades and Downgrades

RDW has been the topic of a number of recent research reports. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Truist Financial upgraded Redwire to a “strong-buy” rating in a report on Friday, May 1st. Roth Mkm reiterated a “buy” rating and issued a $20.00 price target on shares of Redwire in a report on Wednesday, January 28th. Finally, Canaccord Genuity Group boosted their price target on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Redwire has a consensus rating of “Moderate Buy” and a consensus price target of $14.22.

Redwire Trading Up 9.8%

The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -4.53 and a beta of 2.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75. The business has a fifty day moving average price of $9.44 and a 200 day moving average price of $8.63.

Redwire (NYSE:RDW) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). The firm had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The company’s quarterly revenue was up 57.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.09) earnings per share. As a group, equities analysts forecast that Redwire Corporation will post -0.49 earnings per share for the current year.

Insider Transactions at Redwire

In related news, Director Ae Red Holdings, Llc sold 977,887 shares of the stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $10.57, for a total value of $10,336,265.59. Following the completion of the sale, the director directly owned 21,494,349 shares in the company, valued at approximately $227,195,268.93. This represents a 4.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 23,377,780 shares of company stock valued at $229,306,538. 0.79% of the stock is currently owned by corporate insiders.

Institutional Trading of Redwire

Large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC acquired a new stake in Redwire in the 1st quarter valued at $28,000. KBC Group NV acquired a new stake in Redwire during the 1st quarter valued at $29,000. Sunbelt Securities Inc. grew its holdings in Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after purchasing an additional 3,396 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in Redwire by 1,054.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after purchasing an additional 3,668 shares in the last quarter. Finally, CWM LLC grew its holdings in Redwire by 1,725.0% during the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after purchasing an additional 3,864 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

About Redwire

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.