Redwire (NYSE:RDW) Shares Up 8.9% – Should You Buy?

Redwire Corporation (NYSE:RDW) shares shot up 8.9% on Friday . The company traded as high as $6.42 and last traded at $6.5150. 4,190,582 shares were traded during trading, an increase of 7% from the average session volume of 3,903,648 shares. The stock had previously closed at $5.98.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Roth Capital restated a “buy” rating and issued a $15.00 target price on shares of Redwire in a research note on Thursday. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Thursday. HC Wainwright reissued a “buy” rating and issued a $22.00 price objective (down from $26.00) on shares of Redwire in a report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a report on Wednesday, October 8th. Finally, B. Riley dropped their target price on Redwire from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.06.

Redwire Stock Up 9.4%

The stock has a market cap of $942.74 million, a PE ratio of -2.06 and a beta of 2.45. The business has a 50 day moving average price of $8.54 and a 200 day moving average price of $11.98. The company has a quick ratio of 1.11, a current ratio of 1.46 and a debt-to-equity ratio of 0.21.

Redwire (NYSE:RDW) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.28). The company had revenue of $61.76 million during the quarter, compared to analysts’ expectations of $80.48 million. Redwire had a negative return on equity of 29.56% and a negative net margin of 70.32%. Equities research analysts expect that Redwire Corporation will post -0.85 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $7.83, for a total transaction of $86,130,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Redwire

A number of hedge funds have recently bought and sold shares of the business. AE Industrial Partners LP increased its position in shares of Redwire by 7.1% in the third quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after buying an additional 6,101,959 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Redwire by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock valued at $29,153,000 after buying an additional 91,045 shares in the last quarter. Voya Investment Management LLC acquired a new stake in Redwire in the 3rd quarter valued at $20,372,000. Hood River Capital Management LLC acquired a new stake in Redwire in the 2nd quarter valued at $36,206,000. Finally, Cooper Creek Partners Management LLC purchased a new stake in Redwire in the 2nd quarter worth $32,652,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

About Redwire

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.