Redwire (NYSE:RDW) Trading 2% Higher – Should You Buy?

by · The Markets Daily

Redwire Corporation (NYSE:RDWGet Free Report)’s stock price traded up 2% during trading on Friday . The company traded as high as $8.92 and last traded at $8.6390. Approximately 18,946,978 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 29,774,467 shares. The stock had previously closed at $8.47.

Wall Street Analyst Weigh In

RDW has been the topic of several recent analyst reports. Truist Financial upgraded Redwire to a “strong-buy” rating in a research report on Friday, May 1st. Alliance Global Partners restated a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Jefferies Financial Group upgraded Redwire to a “hold” rating in a report on Wednesday, June 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research note on Friday, July 17th. Finally, Wall Street Zen lowered shares of Redwire from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $15.44.

View Our Latest Stock Report on Redwire

Redwire Stock Performance

The stock has a market cap of $2.06 billion, a PE ratio of -3.22 and a beta of 3.01. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37. The stock has a 50-day simple moving average of $13.37 and a 200-day simple moving average of $11.31.

Redwire (NYSE:RDWGet Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). The firm had revenue of $96.97 million during the quarter, compared to analysts’ expectations of $105.94 million. Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The business’s revenue for the quarter was up 57.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.09) earnings per share. Equities analysts predict that Redwire Corporation will post -0.81 earnings per share for the current fiscal year.

Insider Transactions at Redwire

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the stock in a transaction that occurred 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 completion of the sale, the director owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. This represents a 49.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

Large investors have recently made changes to their positions in the business. Parallel Advisors LLC purchased a new position in shares of Redwire in the 1st quarter valued at $28,000. KBC Group NV purchased a new stake in Redwire during the 1st quarter worth $29,000. Sunbelt Securities Inc. boosted its position in Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after purchasing an additional 3,396 shares during the period. CWM LLC increased its holdings in Redwire by 1,725.0% in the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after purchasing an additional 3,864 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in Redwire by 1,054.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after purchasing an additional 3,668 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

About Redwire

(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.

Recommended Stories