Redwire (NYSE:RDW) Trading Up 13.9% – Time to Buy?

Redwire Corporation (NYSE:RDW)’s stock price was up 13.9% during trading on Friday . The stock traded as high as $17.89 and last traded at $17.4850. Approximately 54,939,984 shares were traded during mid-day trading, an increase of 101% from the average daily volume of 27,280,779 shares. The stock had previously closed at $15.35.

Analysts Set New Price Targets

Several equities research analysts have commented on RDW shares. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $13.00 target price on shares of Redwire in a research note on Sunday, May 10th. Canaccord Genuity Group upped their target price on shares of Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Finally, Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.22.

Redwire Price Performance

The company has a market cap of $3.36 billion, a price-to-earnings ratio of -6.52 and a beta of 2.41. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The company’s fifty day moving average price is $10.42 and its two-hundred day moving average price is $9.07.

Redwire (NYSE:RDW) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.24). The company had revenue of $96.97 million during the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The firm’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.09) EPS. On average, equities research analysts forecast that Redwire Corporation will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $9.15, for a total value of $68,625,000.00. Following the completion of the transaction, the director owned 36,135,217 shares in the company, valued at $330,637,235.55. This represents a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 23,327,795 shares of company stock valued at $228,806,188 in the last ninety days. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RDW. Parallel Advisors LLC acquired a new position in Redwire during the first quarter worth $28,000. KBC Group NV acquired a new position in Redwire during the first quarter worth $29,000. Sunbelt Securities Inc. boosted its holdings in Redwire by 601.1% during the fourth 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 last quarter. CWM LLC boosted its holdings in Redwire by 1,725.0% during the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after purchasing an additional 3,864 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in Redwire by 1,054.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after purchasing an additional 3,668 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.