Redwire Sees Unusually Large Options Volume (NYSE:RDW)

Redwire Corporation (NYSE:RDW) was the target of some unusual options trading activity on Tuesday. Stock traders purchased 107,373 call options on the company. This is an increase of 176% compared to the average volume of 38,858 call options.

Redwire Stock Up 27.0%

Shares of RDW stock traded up $4.73 during trading on Tuesday, reaching $22.22. The company’s stock had a trading volume of 59,738,768 shares, compared to its average volume of 27,559,404. 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 company has a market capitalization of $4.27 billion, a price-to-earnings ratio of -8.29 and a beta of 2.41. The stock’s 50-day moving average price is $10.58 and its 200 day moving average price is $9.15. Redwire has a 1-year low of $4.87 and a 1-year high of $22.86.

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 analysts’ consensus estimates of ($0.16) by ($0.24). The business 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 company’s revenue for the quarter was up 57.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS. On average, research analysts anticipate that Redwire will post -0.7 EPS for the current year.

Wall Street Analysts Forecast Growth

RDW has been the topic of a number of research analyst reports. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Alliance Global Partners restated a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Jefferies Financial Group restated a “buy” rating and issued a $13.00 price objective on shares of Redwire in a report on Sunday, May 10th. Roth Mkm restated a “buy” rating and issued a $20.00 price objective on shares of Redwire in a report on Wednesday, January 28th. Finally, Canaccord Genuity Group lifted their price objective on shares of Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Redwire has a consensus rating of “Moderate Buy” and a consensus price target of $14.22.

Insider Activity

In other news, Director Ae Red Holdings, Llc sold 977,887 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $10.57, for a total value of $10,336,265.59. Following the sale, the director directly owned 21,494,349 shares of the company’s stock, valued at approximately $227,195,268.93. The trade was a 4.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 23,327,795 shares of company stock valued at $228,806,188. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

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.