Redwire (NYSE:RDW) Shares Up 2.1% – Here’s Why

Redwire Corporation (NYSE:RDW) shares traded up 2.1% during mid-day trading on Tuesday. The stock traded as high as $11.15 and last traded at $10.6460. 18,673,699 shares changed hands during trading, a decline of 29% from the average session volume of 26,148,205 shares. The stock had previously closed at $10.43.

Analysts Set New Price Targets

Several research firms recently weighed in on RDW. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Canaccord Genuity Group lifted their target price on shares of Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Jefferies Financial Group set a $15.00 price target on shares of Redwire in a research note on Sunday, August 9th. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research report on Thursday, August 6th. Finally, Cantor Fitzgerald increased their target price on Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Redwire currently has an average rating of “Hold” and an average price target of $14.69.

Redwire Trading Up 2.1%

The stock has a 50-day moving average of $11.16 and a two-hundred day moving average of $11.80. The company has a market cap of $2.66 billion, a P/E ratio of -7.29 and a beta of 3.12. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92.

Redwire (NYSE:RDW) last released its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates 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 predict that Redwire Corporation will post -0.7 earnings per share for the current year.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 929,435 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $11.34, for a total transaction of $10,539,792.90. Following the completion of the sale, the director owned 147,984 shares of the company’s stock, valued at $1,678,138.56. This trade represents a 86.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC purchased a new position in shares of Redwire in the first quarter worth $28,000. KBC Group NV purchased a new stake in shares of Redwire during the first quarter valued at $29,000. Rockefeller Capital Management L.P. boosted 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 valued at $31,000 after buying an additional 3,668 shares during the last quarter. IFP Advisors Inc increased its holdings in Redwire by 3,662.5% in the 2nd quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock worth $44,000 after buying an additional 3,516 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in Redwire in the 2nd quarter worth about $57,000. Institutional investors own 8.10% of the company’s stock.

About Redwire

Redwire Corporation is a space infrastructure and defense technology company that develops products and services for government and commercial customers. Its work supports space exploration, national security, civil space programs and the growing commercial space economy.

The company’s offerings include spacecraft platforms, avionics, sensors, deployable structures, solar arrays, in-space manufacturing systems, robotic technologies and components designed for satellite and space station applications.