Redwire (NYSE:RDW) Trading 6.1% Higher – What’s Next?

Redwire Corporation (NYSE:RDW) traded up 6.1% during mid-day trading on Wednesday . The stock traded as high as $15.12 and last traded at $14.7650. 52,037,177 shares changed hands during trading, an increase of 94% from the average session volume of 26,802,816 shares. The stock had previously closed at $13.91.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $13.00 target price on shares of Redwire in a research note on Sunday, May 10th. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Roth Mkm reaffirmed a “buy” rating and set a $20.00 target price on shares of Redwire in a research note on Wednesday, January 28th. Truist Financial raised Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Canaccord Genuity Group lifted their target price on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Redwire has an average rating of “Moderate Buy” and a consensus price target of $14.22.

Redwire Trading Up 13.9%

The company has a market cap of $3.36 billion, a PE ratio of -6.52 and a beta of 2.41. The company has a 50 day simple moving average of $10.26 and a two-hundred day simple moving average of $9.01. 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 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). Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The firm had revenue of $96.97 million during the quarter, compared to analyst estimates of $105.94 million. During the same quarter in the prior year, the company posted ($0.09) EPS. The company’s quarterly revenue was up 57.9% on a year-over-year basis. Sell-side analysts forecast that Redwire Corporation will post -0.67 EPS for the current year.

Insider Buying and Selling

In related news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $9.15, for a total value of $68,625,000.00. Following the transaction, the director owned 36,135,217 shares in the company, valued at approximately $330,637,235.55. This represents a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 23,327,795 shares of company stock valued at $228,806,188 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Redwire

A number of hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in Redwire by 7,512.5% in the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock worth $57,970,000 after buying an additional 6,730,414 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Redwire by 157.5% in the first quarter. Janus Henderson Group PLC now owns 54,600 shares of the company’s stock worth $463,000 after buying an additional 33,400 shares during the last quarter. Amundi increased its holdings in Redwire by 55.4% in the first quarter. Amundi now owns 40,197 shares of the company’s stock worth $342,000 after buying an additional 14,337 shares during the last quarter. Parvin Asset Management LLC increased its holdings in Redwire by 6.9% in the first quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock worth $152,000 after buying an additional 1,150 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in Redwire by 33.6% in the first quarter. California State Teachers Retirement System now owns 98,527 shares of the company’s stock worth $837,000 after buying an additional 24,765 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.