Redwire (NYSE:RDW) Trading Up 3.2% – Should You Buy?

Redwire Corporation (NYSE:RDW)’s stock price rose 3.2% during trading on Thursday . The stock traded as high as $9.49 and last traded at $9.2740. 15,060,884 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 30,420,459 shares. The stock had previously closed at $8.99.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RDW shares. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Jefferies Financial Group raised Redwire to a “hold” rating in a research report on Wednesday, June 10th. Canaccord Genuity Group increased 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. Finally, Wall Street Zen downgraded shares of Redwire from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Redwire has a consensus rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Trading Down 6.1%

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’s 50 day moving average is $14.03 and its two-hundred day moving average is $11.38. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -3.25 and a beta of 3.01.

Redwire (NYSE:RDW) last issued 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 company had revenue of $96.97 million during the quarter, compared to analyst estimates 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 revenue was up 57.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. Equities analysts anticipate that Redwire Corporation will post -0.81 EPS for the current year.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the completion of the transaction, the director owned 1,077,419 shares in the company, valued at $23,142,960.12. The trade was a 49.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

Hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC acquired a new position in shares of Redwire during the first quarter valued at $28,000. KBC Group NV acquired a new stake in shares of Redwire in the 1st quarter worth about $29,000. Sunbelt Securities Inc. lifted its position in Redwire by 601.1% in 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 during the last quarter. CWM LLC lifted its position in Redwire by 1,725.0% in 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 during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake 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 during the period. 8.10% of the stock is currently owned by 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.