Redwire (NYSE:RDW) Stock Price Up 11.9% – Here’s Why

Shares of Redwire Corporation (NYSE:RDW) rose 11.9% during trading on Wednesday . The company traded as high as $12.30 and last traded at $11.5360. Approximately 13,369,199 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 23,477,934 shares. The stock had previously closed at $10.31.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RDW shares. Canaccord Genuity Group raised their target price on Redwire from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Roth Mkm reiterated a “buy” rating and set a $20.00 price objective on shares of Redwire in a report on Wednesday, January 28th. Jefferies Financial Group cut their price objective on Redwire from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, March 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a report on Tuesday. Finally, Truist Financial upgraded Redwire from a “hold” rating to a “buy” rating and lifted their price objective for the company from $13.00 to $15.00 in a report on Monday, March 9th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.89.

Redwire Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.27 and a current ratio of 1.62. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -4.24 and a beta of 2.49. The company has a 50-day simple moving average of $9.28 and a two-hundred day simple moving average of $8.66.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.19). Redwire had a negative return on equity of 13.04% and a negative net margin of 67.55%.The business had revenue of $108.79 million for the quarter, compared to analyst estimates of $98.78 million. As a group, equities research analysts forecast that Redwire Corporation will post -0.49 EPS for the current year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 7,500,000 shares of the company’s stock in a transaction on 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 directly owned 36,135,217 shares of the company’s stock, valued at $330,637,235.55. This represents a 17.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 39,775,048 shares of company stock valued at $429,931,633. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AE Industrial Partners LP lifted its position in shares of Redwire by 7.1% during the 3rd quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock valued at $823,472,000 after acquiring an additional 6,101,959 shares during the period. State Street Corp lifted its position in shares of Redwire by 61.1% during the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after acquiring an additional 1,786,038 shares during the period. 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 acquiring an additional 91,045 shares during the period. UBS Group AG lifted its position in shares of Redwire by 140.8% during the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock worth $15,503,000 after buying an additional 1,192,885 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Redwire by 46.9% during the 4th quarter. Geode Capital Management LLC now owns 1,764,643 shares of the company’s stock worth $13,413,000 after buying an additional 563,259 shares during the last quarter. 8.10% of the stock is 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.