Redwire (NYSE:RDW) Shares Up 6.8% – Still a Buy?

Redwire Corporation (NYSE:RDW)’s share price was up 6.8% during mid-day trading on Tuesday . The company traded as high as $11.36 and last traded at $11.2440. Approximately 15,186,297 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 27,537,898 shares. The stock had previously closed at $10.53.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Cantor Fitzgerald increased their target price on Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. Jefferies Financial Group set a $15.00 price target on Redwire in a report on Sunday, August 9th. Finally, Bank of America upped their price objective on Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a research report on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.69.

Redwire Price Performance

The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -7.70 and a beta of 3.08. The company has a fifty day moving average price of $10.75 and a two-hundred day moving average price of $11.53. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03.

Redwire (NYSE:RDW) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.07. The firm had revenue of $117.07 million for the quarter, compared to analysts’ expectations of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. On average, equities research analysts expect that Redwire Corporation will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling at Redwire

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total value of $22,995,736.20. Following the sale, the director directly owned 1,077,419 shares in the company, valued at $23,142,960.12. The trade was a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Redwire

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