Redwire (NYSE:RDW) Stock Price Up 10.1% – What’s Next?

Redwire Corporation (NYSE:RDW) shares were up 10.1% on Wednesday . The company traded as high as $14.95 and last traded at $14.8670. Approximately 21,277,689 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 32,150,098 shares. The stock had previously closed at $13.50.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RDW shares. Alliance Global Partners restated a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Jefferies Financial Group upgraded shares of Redwire to a “hold” rating in a research report on Wednesday, June 10th. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. One equities research 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.44.

Redwire Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75. The stock’s 50-day simple moving average is $13.76 and its two-hundred day simple moving average is $10.66. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of -5.45 and a beta of 2.92.

Redwire (NYSE:RDW) last posted 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). Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The business had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. During the same period in the prior year, the firm posted ($0.09) EPS. Redwire’s revenue for the quarter was up 57.9% on a year-over-year basis. Analysts forecast that Redwire Corporation will post -0.76 earnings per share for the current year.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $9.15, for a total value of $68,625,000.00. Following the completion of the sale, the director owned 36,135,217 shares in the company, valued at approximately $330,637,235.55. This trade represents a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 23,211,433 shares of company stock worth $239,826,208. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RDW. AE Industrial Partners LP raised its stake in shares of 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 in the last quarter. Bank of America Corp DE boosted its position in shares of 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 valued at $57,970,000 after acquiring an additional 6,730,414 shares in the last quarter. State Street Corp increased its stake in Redwire by 61.1% in the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after acquiring an additional 1,786,038 shares during the period. Vanguard Group Inc. increased its stake in Redwire by 2.9% in the third quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock valued at $29,153,000 after acquiring an additional 91,045 shares during the period. Finally, UBS Group AG raised its position in Redwire by 140.8% in the fourth quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock worth $15,503,000 after purchasing an additional 1,192,885 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.