Redwire (NYSE:RDW) Stock Price Up 6.8% – Still a Buy?

Shares of Redwire Corporation (NYSE:RDW) traded up 6.8% during mid-day trading on Tuesday . The stock traded as high as $11.36 and last traded at $11.2440. 15,186,297 shares traded hands during trading, a decline of 45% from the average daily volume of 27,537,898 shares. The stock had previously closed at $10.53.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Jefferies Financial Group set a $15.00 target price on shares of Redwire in a research report on Sunday, August 9th. Cantor Fitzgerald boosted their target price on Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a research report on Friday, July 17th. Bank of America raised their price target on shares of Redwire from $7.00 to $8.00 and gave the company an “underperform” rating in a report on Monday, August 31st. Finally, Canaccord Genuity Group lifted their price target on shares of Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.69.

Redwire Trading Up 6.8%

The firm has a market cap of $2.81 billion, a price-to-earnings ratio of -7.70 and a beta of 3.08. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $10.75 and a 200-day moving average price of $11.53.

Redwire (NYSE:RDW) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.07. The firm had revenue of $117.07 million for the quarter, compared to analyst estimates of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. As a group, research analysts expect that Redwire Corporation will post -0.7 EPS for the current fiscal year.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’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 transaction, the director directly owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. The trade was a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Redwire

A number of institutional investors have recently added to or reduced their stakes in RDW. Parallel Advisors LLC bought a new stake in shares of Redwire in the 1st quarter valued at approximately $28,000. KBC Group NV acquired a new position in Redwire during the 1st quarter valued at about $29,000. Sunbelt Securities Inc. boosted its position in shares of 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 grew its holdings in Redwire by 1,725.0% in the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after buying an additional 3,864 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in 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. Institutional investors and hedge funds own 8.10% of the company’s stock.

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.