Redwire (NYSE:RDW) Shares Up 22.3% – Should You Buy?

Redwire Corporation (NYSE:RDW)’s share price was up 22.3% during mid-day trading on Thursday . The company traded as high as $14.60 and last traded at $14.0120. Approximately 66,917,479 shares traded hands during trading, an increase of 164% from the average daily volume of 25,330,189 shares. The stock had previously closed at $11.46.

Analysts Set New Price Targets

RDW has been the topic of a number of recent analyst reports. Roth Mkm restated a “buy” rating and set a $20.00 target price on shares of Redwire in a report on Wednesday, January 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. Finally, Truist Financial upgraded Redwire to a “strong-buy” rating in a research note on Friday, May 1st. 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $14.22.

Redwire Stock Performance

The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -5.23 and a beta of 2.41. The company’s fifty day simple moving average is $9.63 and its 200 day simple moving average is $8.73. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). The company had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The business’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.09) EPS. On average, equities research analysts expect that Redwire Corporation will post -0.61 earnings per share for the current year.

Insider Transactions at Redwire

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 stock was sold at an average price of $10.57, for a total transaction of $10,336,265.59. Following the completion of the sale, the director owned 21,494,349 shares in the company, valued at $227,195,268.93. The trade was a 4.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 23,327,795 shares of company stock worth $228,806,188 in the last three months. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

Several institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC acquired a new position in Redwire in the 1st quarter valued at $28,000. KBC Group NV acquired a new stake in Redwire in the 1st quarter worth about $29,000. Sunbelt Securities Inc. grew its position in shares of Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after purchasing an additional 3,396 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Redwire by 1,054.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after buying an additional 3,668 shares during the period. Finally, CWM LLC increased its stake in Redwire by 1,725.0% during the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after acquiring an additional 3,864 shares during the period. 8.10% of the stock is currently owned by institutional investors.

Redwire Company Profile

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.