Redwire (NYSE:RDW) Trading Up 16.4% – Still a Buy?

Redwire Corporation (NYSE:RDW) shares traded up 16.4% on Thursday . The company traded as high as $11.99 and last traded at $11.8730. 12,775,182 shares traded hands during trading, a decline of 51% from the average session volume of 26,133,789 shares. The stock had previously closed at $10.20.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Roth Mkm reissued a “buy” rating and issued a $15.00 price target on shares of Redwire in a research note on Thursday, November 6th. KeyCorp began coverage on shares of Redwire in a report on Thursday, December 18th. They set a “sector weight” rating for the company. Truist Financial set a $13.00 price objective on shares of Redwire in a research note on Friday, January 9th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Thursday, November 6th. Finally, Cantor Fitzgerald cut their price target on shares of Redwire from $20.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Redwire currently has a consensus rating of “Hold” and an average price target of $13.13.

Redwire Stock Up 4.1%

The company has a market cap of $2.06 billion, a P/E ratio of -3.93 and a beta of 2.44. The stock’s 50-day moving average price is $7.91 and its 200-day moving average price is $9.43. The company has a current ratio of 1.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.15). Redwire had a negative return on equity of 16.24% and a negative net margin of 70.32%.The firm had revenue of $103.43 million for the quarter, compared to analyst estimates of $132.05 million. As a group, research analysts forecast that Redwire Corporation will post -0.85 EPS for the current year.

Insider Buying and Selling at Redwire

In other Redwire news, EVP Aaron Michael Futch bought 18,410 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was bought at an average cost of $5.45 per share, with a total value of $100,334.50. Following the completion of the transaction, the executive vice president directly owned 88,704 shares in the company, valued at approximately $483,436.80. The trade was a 26.19% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Chris Edmunds purchased 5,500 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was acquired at an average cost of $5.46 per share, for a total transaction of $30,030.00. Following the transaction, the chief accounting officer owned 107,441 shares in the company, valued at $586,627.86. This represents a 5.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 56,065 shares of company stock valued at $330,047 and have sold 23,953,093 shares valued at $252,001,857. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Redwire

Institutional investors and hedge funds have recently bought and sold shares of the stock. AE Industrial Partners LP boosted its holdings in Redwire by 139.3% during the second quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company’s stock worth $1,394,000 after purchasing an additional 49,765,262 shares during the last quarter. Voya Investment Management LLC purchased a new stake in Redwire in the 3rd quarter valued at about $20,372,000. Hood River Capital Management LLC bought a new position in shares of Redwire during the 2nd quarter worth approximately $36,206,000. Cooper Creek Partners Management LLC purchased a new position in shares of Redwire in the 2nd quarter worth approximately $32,652,000. Finally, Two Sigma Investments LP grew its holdings in shares of Redwire by 489.3% in the third quarter. Two Sigma Investments LP now owns 1,049,292 shares of the company’s stock valued at $9,433,000 after acquiring an additional 871,223 shares in the last quarter. 8.10% of the stock is 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.