Redwire (NYSE:RDW) Shares Gap Up – Time to Buy?

Redwire Corporation (NYSE:RDW) shares gapped up prior to trading on Monday . The stock had previously closed at $14.06, but opened at $15.39. Redwire shares last traded at $13.9780, with a volume of 35,719,035 shares.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $13.00 target price on shares of Redwire in a research note on Sunday, May 10th. Roth Mkm reissued a “buy” rating and issued a $20.00 target price on shares of Redwire in a research note on Wednesday, January 28th. Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.22.

Redwire Stock Performance

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 company has a market cap of $2.66 billion, a price-to-earnings ratio of -5.17 and a beta of 2.41. The firm has a 50 day simple moving average of $10.03 and a 200-day simple moving average of $8.90.

Redwire (NYSE:RDW) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.24). Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business had revenue of $96.97 million during the quarter, compared to analyst estimates of $105.94 million. During the same period last year, the company earned ($0.09) EPS. The business’s revenue for the quarter was up 57.9% on a year-over-year basis. As a group, analysts predict that Redwire Corporation will post -0.67 EPS for the current fiscal year.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $9.15, for a total value of $68,625,000.00. Following the transaction, the director owned 36,135,217 shares of the company’s stock, valued at $330,637,235.55. This represents a 17.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 23,327,795 shares of company stock valued at $228,806,188. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

A number of institutional investors have recently made changes to their positions in the stock. AE Industrial Partners LP increased its position in shares of Redwire by 7.1% during the third quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after acquiring an additional 6,101,959 shares during the last quarter. Bank of America Corp DE increased its position in shares of Redwire by 7,512.5% during the first 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 last quarter. State Street Corp increased its position in shares of Redwire by 61.1% during the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after acquiring an additional 1,786,038 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Redwire by 2.9% during the third quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock valued at $29,153,000 after acquiring an additional 91,045 shares during the last quarter. Finally, UBS Group AG increased its position in shares of Redwire by 140.8% during the fourth quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after acquiring an additional 1,192,885 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.