Redwire (NYSE:RDW) Trading 1.8% Higher – Should You Buy?

Redwire Corporation (NYSE:RDW) traded up 1.8% during trading on Tuesday . The stock traded as high as $10.20 and last traded at $9.76. 13,188,754 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 31,148,963 shares. The stock had previously closed at $9.59.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RDW. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Canaccord Genuity Group boosted their price objective on shares of Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Jefferies Financial Group raised shares of Redwire to a “hold” rating in a research note on Wednesday, June 10th. Wall Street Zen lowered shares of Redwire from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. One research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Stock Performance

The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The firm has a market cap of $2.23 billion, a P/E ratio of -3.48 and a beta of 3.01. The business has a fifty day simple moving average of $14.47 and a 200-day simple moving average of $11.35.

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. On average, sell-side analysts predict that Redwire Corporation will post -0.81 EPS for the current fiscal year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s stock in a transaction dated 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 sale, the director owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 5,849,360 shares of company stock worth $73,313,940 over the last 90 days. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Redwire

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in Redwire by 125.0% in the first quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock worth $426,000 after purchasing an additional 28,576 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Redwire by 352.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock worth $2,945,000 after purchasing an additional 276,814 shares in the last quarter. Strs Ohio bought a new position in Redwire in the 1st quarter worth $69,000. Rhumbline Advisers lifted its position in Redwire by 61.0% during the second quarter. Rhumbline Advisers now owns 56,517 shares of the company’s stock valued at $921,000 after purchasing an additional 21,417 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Redwire by 57.6% during the second quarter. Invesco Ltd. now owns 21,198 shares of the company’s stock valued at $346,000 after purchasing an additional 7,750 shares during the period. Institutional investors own 8.10% of the company’s stock.

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.