Redwire (NYSE:RDW) Trading Up 1.7% – Time to Buy?

Redwire Corporation (NYSE:RDW)’s share price was up 1.7% during trading on Friday . The company traded as high as $10.72 and last traded at $10.55. 8,890,014 shares traded hands during trading, a decline of 68% from the average session volume of 27,630,023 shares. The stock had previously closed at $10.37.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Bank of America boosted their target price on Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a research report on Monday, August 31st. Canaccord Genuity Group increased their target price on Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Cantor Fitzgerald upped their price objective on Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $14.69.

Redwire Trading Up 1.7%

The company has a market cap of $2.64 billion, a price-to-earnings ratio of -7.23 and a beta of 3.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48. The business’s 50-day simple moving average is $10.77 and its 200-day simple moving average is $11.48.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. The business had revenue of $117.07 million during the quarter, compared to analysts’ expectations of $107.10 million. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. Research analysts predict that Redwire Corporation will post -0.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction 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 transaction, the director owned 1,077,419 shares in the company, valued at approximately $23,142,960.12. The trade was a 49.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.79% of the stock is currently owned by company insiders.

Institutional Trading of Redwire

A number of hedge funds and other institutional investors have recently modified their holdings of RDW. Parallel Advisors LLC acquired a new stake in Redwire during the 1st quarter valued at approximately $28,000. KBC Group NV purchased a new position in shares of Redwire during the 1st quarter valued at approximately $29,000. Sunbelt Securities Inc. grew its position in shares of Redwire by 601.1% during the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after buying an additional 3,396 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Redwire by 1,054.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after buying an additional 3,668 shares in the last quarter. Finally, CWM LLC increased its stake 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 buying an additional 3,864 shares during the last quarter. 8.10% of the stock is owned by hedge funds and other 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.