Redwire (NYSE:RDW) Trading 26.2% Higher – Should You Buy?

Redwire Corporation (NYSE:RDW) was up 26.2% on Tuesday . The company traded as high as $23.10 and last traded at $22.08. Approximately 104,768,171 shares changed hands during trading, an increase of 273% from the average daily volume of 28,066,486 shares. The stock had previously closed at $17.49.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RDW shares. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Canaccord Genuity Group upped their price objective on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Roth Mkm restated a “buy” rating and issued a $20.00 price target on shares of Redwire in a report on Wednesday, January 28th. Finally, Truist Financial raised shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $14.22.

Redwire Stock Up 26.2%

The business has a 50 day moving average of $10.58 and a two-hundred day moving average of $9.15. The stock has a market capitalization of $4.24 billion, a PE ratio of -8.24 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.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.24). The company had revenue of $96.97 million during the quarter, compared to analysts’ expectations of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. Redwire’s revenue for the quarter was up 57.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) EPS. Analysts predict that Redwire Corporation will post -0.7 EPS for the current year.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $9.15, for a total transaction of $68,625,000.00. Following the completion of the transaction, the director owned 36,135,217 shares in the company, valued at $330,637,235.55. The trade was a 17.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 23,327,795 shares of company stock valued at $228,806,188. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Redwire

Several institutional investors and hedge funds have recently bought and sold shares of the company. Andar Capital Management HK Ltd boosted its position in shares of Redwire by 76.5% in the 3rd quarter. Andar Capital Management HK Ltd now owns 300,000 shares of the company’s stock worth $2,697,000 after purchasing an additional 130,000 shares in the last quarter. JPMorgan Chase & Co. increased its position in Redwire by 2,556.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 577,271 shares of the company’s stock valued at $5,190,000 after buying an additional 555,536 shares in the last quarter. Capelight Capital Asset Management LP purchased a new stake in Redwire in the fourth quarter valued at about $1,330,000. AE Industrial Partners LP raised its stake in Redwire by 7.1% in the third quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after buying an additional 6,101,959 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Redwire in the fourth quarter worth about $7,676,000. 8.10% of the stock is owned by hedge funds and other institutional investors.

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.