Redwire (NYSE:RDW) Shares Up 2% – What’s Next?

Shares of Redwire Corporation (NYSE:RDW) traded up 2% on Friday . The company traded as high as $8.92 and last traded at $8.6390. Approximately 18,946,978 shares changed hands during trading, a decline of 36% from the average daily volume of 29,774,467 shares. The stock had previously closed at $8.47.

Analysts Set New Price Targets

Several brokerages have issued reports on RDW. Wall Street Zen downgraded Redwire from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Jefferies Financial Group raised shares of Redwire to a “hold” rating in a research report on Wednesday, June 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. Canaccord Genuity Group boosted their price target on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, Truist Financial raised Redwire to a “strong-buy” rating in a report on Friday, May 1st. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $15.44.

Redwire Price Performance

The company has a fifty day simple moving average of $13.55 and a 200 day simple moving average of $11.33. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -3.22 and a beta of 3.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75.

Redwire (NYSE:RDW) last issued its quarterly earnings results 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). The company 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 quarterly revenue was up 57.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) EPS. Equities research analysts forecast that Redwire Corporation will post -0.81 EPS for the current fiscal year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the completion of the transaction, the director owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

Several large investors have recently modified their holdings of RDW. Parallel Advisors LLC bought a new position in Redwire during the first quarter worth $28,000. KBC Group NV acquired a new position in Redwire in the first quarter valued at $29,000. Sunbelt Securities Inc. boosted its position in Redwire by 601.1% during the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after acquiring an additional 3,396 shares during the last quarter. CWM LLC grew its holdings 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. Finally, Rockefeller Capital Management L.P. grew its holdings in Redwire by 1,054.0% during the 4th 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. 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.