Redwire (NYSE:RDW) Shares Up 10.1% – Time to Buy?

Redwire Corporation (NYSE:RDW) shares rose 10.1% during mid-day trading on Wednesday . The company traded as high as $14.95 and last traded at $14.8670. Approximately 21,277,689 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 32,150,098 shares. The stock had previously closed at $13.50.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Canaccord Genuity Group upped their price target on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. Zacks Research upgraded shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Finally, Truist Financial raised shares of Redwire to a “strong-buy” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Redwire has an average rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Trading Up 8.2%

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 firm has a market cap of $2.80 billion, a price-to-earnings ratio of -5.45 and a beta of 2.92. The business’s fifty day moving average is $13.76 and its two-hundred day moving average is $10.66.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.24). The firm had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The firm’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.09) EPS. Equities analysts anticipate that Redwire Corporation will post -0.76 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $330,637,235.55. This trade represents a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 23,211,433 shares of company stock worth $239,826,208 over the last quarter. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC bought a new position in shares of Redwire in the 1st quarter valued at about $28,000. KBC Group NV bought a new stake in shares of Redwire during the first quarter worth approximately $29,000. Sunbelt Securities Inc. lifted its holdings in Redwire by 601.1% in the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after buying an additional 3,396 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in Redwire by 1,054.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after buying an additional 3,668 shares during the period. Finally, CWM LLC boosted its stake in Redwire by 1,725.0% in the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after acquiring an additional 3,864 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.