Redwire (NYSE:RDW) Stock Price Up 4% – Should You Buy?

Redwire Corporation (NYSE:RDW)’s stock price rose 4% during mid-day trading on Wednesday . The company traded as high as $10.97 and last traded at $10.6230. 14,168,773 shares were traded during trading, a decline of 55% from the average daily volume of 31,710,980 shares. The stock had previously closed at $10.21.

Wall Street Analyst Weigh In

Several brokerages recently commented on RDW. Wall Street Zen lowered shares of Redwire from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Jefferies Financial Group raised shares of Redwire to a “hold” rating in a report on Wednesday, June 10th. Canaccord Genuity Group increased their price objective on shares of Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a report on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Finally, Truist Financial raised shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.44.

Redwire Stock Performance

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 50-day moving average price of $14.41 and a two-hundred day moving average price of $11.30. The firm has a market cap of $2.51 billion, a PE ratio of -3.92 and a beta of 3.01.

Redwire (NYSE:RDW) last issued 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 return on equity of 11.68% and a negative net margin of 80.90%.The firm had revenue of $96.97 million for the quarter, compared to analysts’ expectations of $105.94 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 57.9% compared to the same quarter last year. Research analysts forecast that Redwire Corporation will post -0.81 EPS for the current fiscal year.

Insider Activity

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s stock in a transaction 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 $23,142,960.12. This represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 11,680,271 shares of company stock worth $132,937,861 over the last ninety days. 0.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Redwire

A number of institutional investors and hedge funds have recently bought and sold shares of RDW. Farther Finance Advisors LLC raised its holdings in Redwire by 4.4% in the 4th quarter. Farther Finance Advisors LLC now owns 20,897 shares of the company’s stock valued at $159,000 after acquiring an additional 877 shares during the last quarter. Parvin Asset Management LLC boosted its holdings in shares of Redwire by 6.9% during the 1st quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock worth $152,000 after purchasing an additional 1,150 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Redwire by 32.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company’s stock worth $102,000 after purchasing an additional 1,533 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Redwire by 12.0% in the second quarter. BNP Paribas Financial Markets now owns 30,396 shares of the company’s stock valued at $495,000 after purchasing an additional 3,248 shares in the last quarter. Finally, Parallel Advisors LLC purchased a new stake in shares of Redwire in the first quarter valued at approximately $28,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.