Redwire (NYSE:RDW) Shares Gap Up – Should You Buy?
by Tristan Rich · The Markets DailyRedwire Corporation (NYSE:RDW – Get Free Report)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $11.98, but opened at $12.83. Redwire shares last traded at $12.6230, with a volume of 13,597,035 shares.
Wall Street Analyst Weigh In
A number of brokerages recently commented on RDW. Bank of America reduced their price objective on shares of Redwire from $9.00 to $6.00 and set an “underperform” rating for the company in a research note on Wednesday, November 19th. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Redwire in a research report on Tuesday, December 23rd. Canaccord Genuity Group decreased their target price on shares of Redwire from $17.50 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Finally, KeyCorp began coverage on shares of Redwire in a research note on Thursday, December 18th. They issued a “sector weight” rating for the company. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.13.
Read Our Latest Stock Analysis on RDW
Redwire Stock Up 13.0%
The stock has a market cap of $2.24 billion, a PE ratio of -4.27 and a beta of 2.44. The business has a 50 day moving average price of $7.77 and a 200 day moving average price of $9.45. The company has a quick ratio of 1.05, a current ratio of 1.41 and a debt-to-equity ratio of 0.20.
Redwire (NYSE:RDW – Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.15). Redwire had a negative net margin of 70.32% and a negative return on equity of 16.24%. The company had revenue of $103.43 million for the quarter, compared to analysts’ expectations of $132.05 million. Equities research analysts expect that Redwire Corporation will post -0.85 EPS for the current fiscal year.
Insider Activity
In other news, CEO Peter Anthony Cannito, Jr. acquired 32,155 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was acquired at an average price of $6.21 per share, for a total transaction of $199,682.55. Following the completion of the transaction, the chief executive officer owned 526,728 shares in the company, valued at approximately $3,270,980.88. The trade was a 6.50% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Chris Edmunds bought 5,500 shares of the stock in a transaction dated Friday, November 14th. The shares were purchased at an average cost of $5.46 per share, for a total transaction of $30,030.00. Following the completion of the purchase, the chief accounting officer owned 107,441 shares in the company, valued at approximately $586,627.86. This represents a 5.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 56,065 shares of company stock valued at $330,047 and have sold 23,953,093 shares valued at $252,001,857. Company insiders own 2.60% of the company’s stock.
Hedge Funds Weigh In On Redwire
A number of large investors have recently bought and sold shares of RDW. Register Financial Advisors LLC boosted its position in Redwire by 4.5% during the fourth quarter. Register Financial Advisors LLC now owns 342,750 shares of the company’s stock worth $2,605,000 after purchasing an additional 14,850 shares in the last quarter. RPG Investment Advisory LLC acquired a new stake in Redwire in the 4th quarter valued at $543,000. Harbor Capital Advisors Inc. purchased a new stake in Redwire in the 4th quarter worth $497,000. Sage Advisors LLC acquired a new position in Redwire during the fourth quarter worth $79,000. Finally, SG Americas Securities LLC lifted its holdings in Redwire by 184.2% during the fourth quarter. SG Americas Securities LLC now owns 66,619 shares of the company’s stock valued at $506,000 after purchasing an additional 43,182 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.
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.