Redwire (NYSE:RDW) Shares Up 1.7% – Should You Buy?

Redwire Corporation (NYSE:RDW) was up 1.7% during trading on Monday . The stock traded as high as $9.23 and last traded at $8.8350. 12,777,613 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 30,158,895 shares. The stock had previously closed at $8.69.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RDW. Jefferies Financial Group upgraded shares of Redwire to a “hold” rating in a research report on Wednesday, June 10th. Truist Financial raised Redwire to a “strong-buy” rating in a report on Friday, May 1st. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research report on Friday, July 17th. Finally, Canaccord Genuity Group raised their price objective on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $15.44.

Redwire Price Performance

The company’s 50 day simple moving average is $13.82 and its 200-day simple moving average is $11.36. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -2.97 and a beta of 3.01.

Redwire (NYSE:RDW) last announced its earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $105.94 million. During the same quarter last year, the business posted ($0.09) EPS. The firm’s revenue was up 57.9% compared to the same quarter last year. On average, equities research analysts predict that Redwire Corporation will post -0.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Redwire

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total value of $22,995,736.20. Following the sale, the director directly owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. This trade represents a 49.84% 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. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Redwire

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDW. Parallel Advisors LLC acquired a new position in shares of Redwire in the 1st quarter valued at about $28,000. KBC Group NV acquired a new position in Redwire during the first quarter valued at approximately $29,000. Sunbelt Securities Inc. grew its stake 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 buying an additional 3,396 shares during the period. CWM LLC increased its position in shares of Redwire by 1,725.0% in the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after acquiring an additional 3,864 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in shares of 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 acquiring an additional 3,668 shares during the period. 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.