Redwire (NYSE:RDW) Trading 7.4% Higher – What’s Next?

by · The Cerbat Gem

Redwire Corporation (NYSE:RDWGet Free Report)’s stock price traded up 7.4% on Thursday . The company traded as high as $26.64 and last traded at $25.7860. 85,779,738 shares were traded during mid-day trading, an increase of 190% from the average session volume of 29,592,652 shares. The stock had previously closed at $24.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Jefferies Financial Group reissued a “buy” rating and issued a $13.00 target price on shares of Redwire in a research report on Sunday, May 10th. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Finally, Canaccord Genuity Group upped their price target on shares of Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.22.

Get Our Latest Stock Analysis on RDW

Redwire Trading Down 5.6%

The stock has a 50 day moving average of $11.73 and a 200-day moving average of $9.62. The company has a market capitalization of $4.69 billion, a P/E ratio of -9.12 and a beta of 2.41. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Redwire (NYSE:RDWGet Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). The company had revenue of $96.97 million for the quarter, compared to the consensus estimate 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 revenue was up 57.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) earnings per share. On average, research analysts predict that Redwire Corporation will post -0.7 EPS for the current year.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $9.15, for a total transaction of $68,625,000.00. Following the completion of the transaction, the director directly owned 36,135,217 shares in the company, valued at approximately $330,637,235.55. The trade was a 17.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 23,327,795 shares of company stock worth $228,806,188. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake 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 during the period. Janus Henderson Group PLC boosted its stake in Redwire by 157.5% in the 1st quarter. Janus Henderson Group PLC now owns 54,600 shares of the company’s stock worth $463,000 after purchasing an additional 33,400 shares during the period. Amundi grew its holdings in Redwire by 55.4% during the 1st quarter. Amundi now owns 40,197 shares of the company’s stock valued at $342,000 after buying an additional 14,337 shares in the last quarter. Parvin Asset Management LLC raised its position in shares of Redwire by 6.9% during the first quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock valued at $152,000 after buying an additional 1,150 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Redwire by 33.6% during the first quarter. California State Teachers Retirement System now owns 98,527 shares of the company’s stock valued at $837,000 after buying an additional 24,765 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors.

Redwire Company Profile

(Get Free Report)

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.

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