Redwire Sees Unusually High Options Volume (NYSE:RDW)

Redwire Corporation (NYSE:RDW) was the target of some unusual options trading on Wednesday. Stock investors purchased 79,624 call options on the stock. This is an increase of approximately 74% compared to the average volume of 45,631 call options.

Wall Street Analyst Weigh In

RDW has been the subject of a number of research reports. Truist Financial upgraded Redwire to a “strong-buy” rating in a report on Friday, May 1st. Jefferies Financial Group downgraded Redwire from a “buy” rating to a “hold” rating and raised their price target for the company from $13.00 to $24.00 in a research note on Monday, June 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, Canaccord Genuity Group raised their price target 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, six have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.44.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the stock in a transaction dated 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 of the company’s stock, 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 can be accessed through the SEC website. Insiders sold a total of 23,327,795 shares of company stock valued at $228,806,188 over the last quarter. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Redwire

Several hedge funds and other institutional investors have recently modified their holdings of RDW. Parallel Advisors LLC bought a new stake in shares of Redwire in the 1st quarter valued at about $28,000. Bank of America Corp DE grew its position in shares of Redwire by 7,512.5% in the 1st 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 during the last quarter. Janus Henderson Group PLC grew its position in shares of Redwire by 157.5% in the 1st 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 during the last quarter. Amundi grew its position in shares of Redwire by 55.4% in the 1st 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. Finally, Parvin Asset Management LLC grew its position in shares of Redwire by 6.9% in the 1st quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock valued at $152,000 after buying an additional 1,150 shares during the last quarter. Institutional investors own 8.10% of the company’s stock.

Redwire Price Performance

Shares of NYSE RDW opened at $15.79 on Wednesday. The stock has a market capitalization of $3.03 billion, a PE ratio of -5.89 and a beta of 2.92. 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 business has a fifty day moving average price of $13.14 and a two-hundred day moving average price of $10.31. Redwire has a fifty-two week low of $4.87 and a fifty-two week high of $26.64.

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). 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%. Redwire’s revenue was up 57.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.09) earnings per share. As a group, equities analysts predict that Redwire will post -0.76 earnings per share for the current fiscal year.

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.