Redwire (NYSE:RDW) Trading Up 4.7% – What’s Next?

Shares of Redwire Corporation (NYSE:RDW) rose 4.7% on Tuesday . The stock traded as high as $12.50 and last traded at $12.2450. 34,894,762 shares changed hands during mid-day trading, an increase of 8% from the average daily volume of 32,254,920 shares. The stock had previously closed at $11.69.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Redwire from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Jefferies Financial Group raised Redwire to a “hold” rating in a research note on Wednesday, June 10th. Canaccord Genuity Group lifted their target price on Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, Truist Financial upgraded Redwire to a “strong-buy” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of -4.57 and a beta of 2.91. The business’s fifty day simple moving average is $14.24 and its 200 day simple moving average is $11.07.

Redwire (NYSE:RDW) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.24). Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The company had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. During the same quarter in the prior year, the company posted ($0.09) EPS. Redwire’s revenue for the quarter was up 57.9% on a year-over-year basis. On average, research analysts forecast that Redwire Corporation will post -0.76 EPS for the current year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 3,145,207 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $10.57, for a total value of $33,244,837.99. Following the transaction, the director owned 26,273,144 shares in the company, valued at approximately $277,707,132.08. This represents a 10.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 13,211,433 shares of company stock valued at $147,576,208 in the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Redwire

Institutional investors have recently modified their holdings of the company. Militia Capital Management LLC bought a new position in shares of Redwire in the 1st quarter worth $281,000. Parallel Advisors LLC bought a new stake in Redwire during the 1st quarter valued at $28,000. Bank of America Corp DE lifted its stake in shares of 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 valued at $57,970,000 after buying an additional 6,730,414 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Redwire by 157.5% in the first quarter. Janus Henderson Group PLC now owns 54,600 shares of the company’s stock valued at $463,000 after buying an additional 33,400 shares in the last quarter. Finally, Amundi grew its holdings in shares of Redwire by 55.4% during the first quarter. Amundi now owns 40,197 shares of the company’s stock valued at $342,000 after buying an additional 14,337 shares during the last quarter. 8.10% of the stock is owned by institutional investors and hedge funds.

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.