Redwire (NYSE:RDW) Upgraded to “Strong-Buy” at Truist Financial

Truist Financial upgraded shares of Redwire (NYSE:RDW) to a strong-buy rating in a research note issued to investors on Friday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the stock. Jefferies Financial Group lowered their target price on shares of Redwire from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Canaccord Genuity Group lifted their target price on shares of Redwire from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Finally, Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Redwire presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.89.

Redwire Price Performance

RDW traded up $0.15 on Friday, hitting $9.34. 14,809,152 shares of the company’s stock were exchanged, compared to its average volume of 22,531,396. Redwire has a fifty-two week low of $4.87 and a fifty-two week high of $22.25. The company has a current ratio of 1.62, a quick ratio of 1.27 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $9.38 and a 200-day moving average price of $8.63. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -3.94 and a beta of 2.41.

Redwire (NYSE:RDW) last announced its earnings results on Wednesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.19). Redwire had a negative return on equity of 13.04% and a negative net margin of 67.55%.The business had revenue of $108.79 million for the quarter, compared to analyst estimates of $98.78 million. As a group, equities analysts anticipate that Redwire will post -0.49 earnings per share for the current year.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the business’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $9.15, for a total transaction 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. The trade was a 17.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 29,444,316 shares of company stock worth $295,555,335. Insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

Several institutional investors and hedge funds have recently bought and sold shares of RDW. AE Industrial Partners LP raised its holdings in Redwire by 7.1% in the 3rd quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after buying an additional 6,101,959 shares during the period. State Street Corp raised its holdings in Redwire by 61.1% in the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after buying an additional 1,786,038 shares during the period. UBS Group AG raised its holdings in Redwire by 140.8% in the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after buying an additional 1,192,885 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Redwire in the 4th quarter valued at about $7,676,000. Finally, Van ECK Associates Corp raised its holdings in Redwire by 231.0% in the 4th quarter. Van ECK Associates Corp now owns 1,436,535 shares of the company’s stock valued at $10,918,000 after buying an additional 1,002,504 shares during the period. 8.10% of the stock is currently owned by hedge funds and other 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.