Redwire (NYSE:RDW) Trading Up 14.9% on Analyst Upgrade

Shares of Redwire Corporation (NYSE:RDW) shot up 14.9% on Thursday after Jefferies Financial Group upgraded the stock to a hold rating. The company traded as high as $17.28 and last traded at $17.0790. 66,844,970 shares changed hands during trading, an increase of 111% from the average session volume of 31,706,250 shares. The stock had previously closed at $14.87.

Other research analysts have also issued research reports about the company. Canaccord Genuity Group raised their price objective on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Truist Financial upgraded Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Redwire has a consensus rating of “Moderate Buy” and a consensus target price of $15.44.

Insider Activity at Redwire

In related news, Director Ae Red Holdings, Llc sold 977,887 shares of the stock in a transaction 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 sale, the director directly owned 21,494,349 shares of the company’s stock, valued at $227,195,268.93. This trade represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 23,327,795 shares of company stock worth $228,806,188 over the last 90 days. Company insiders own 0.79% of the company’s stock.

More Redwire News

Here are the key news stories impacting Redwire this week:

• Positive Sentiment: Redwire is benefiting from sector-wide enthusiasm tied to the upcoming SpaceX IPO, with investors looking for other public space names that could attract follow-on capital and sympathy buying. The Biggest Opportunity From SpaceX’s IPO May Surprise You
• Neutral Sentiment: Jefferies Financial Group upgraded Redwire to hold, which suggests the stock may have already priced in a lot of near-term optimism and is not necessarily viewed as undervalued from here. Zacks.com
• Negative Sentiment: Redwire’s expanded US$500 million at-the-market equity program is raising dilution concerns, since issuing additional shares could pressure per-share value even if it strengthens the balance sheet and funds growth. Redwire’s US$500 Million ATM Raises Dilution Questions For Growth Story
• Negative Sentiment: Market commentary also points to Redwire’s recent slide being driven by worries that the new equity program could dilute shareholders and weigh on the stock despite its strong longer-term space infrastructure growth story. The $500 Million Reason Redwire Stock Is Down Today

Institutional Trading of Redwire

Large investors have recently modified their holdings of the company. Parallel Advisors LLC bought a new stake in shares of Redwire in the first quarter worth $28,000. KBC Group NV bought a new stake in shares of Redwire in the first quarter worth $29,000. Sunbelt Securities Inc. grew its holdings in shares of Redwire by 601.1% in the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after acquiring an additional 3,396 shares during the period. Rockefeller Capital Management L.P. grew its holdings 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 worth $31,000 after acquiring an additional 3,668 shares during the period. Finally, CWM LLC grew its holdings in shares of Redwire by 1,725.0% in the fourth 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. Institutional investors own 8.10% of the company’s stock.

Redwire Stock Up 14.9%

The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The company has a market cap of $3.28 billion, a P/E ratio of -6.37 and a beta of 2.92. The company has a fifty day moving average of $13.29 and a 200 day moving average of $10.38.

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

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.