Redwire (NYSE:RDW) Trading Up 9% – Should You Buy?

Redwire Corporation (NYSE:RDW) was up 9% during mid-day trading on Wednesday . The company traded as high as $24.92 and last traded at $24.0180. Approximately 119,911,794 shares changed hands during mid-day trading, an increase of 313% from the average daily volume of 29,022,869 shares. The stock had previously closed at $22.04.

Analyst Ratings Changes

Several research firms recently weighed in on RDW. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. Truist Financial upgraded shares of Redwire to a “strong-buy” rating in a report on Friday, May 1st. Jefferies Financial Group restated a “buy” rating and issued a $13.00 target price on shares of Redwire in a report on Sunday, May 10th. Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, Canaccord Genuity Group raised their target price on shares of Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.22.

Redwire Stock Performance

The business’s 50-day moving average price is $11.43 and its 200-day moving average price is $9.52. 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 stock has a market cap of $4.53 billion, a PE ratio of -8.75 and a beta of 2.41.

Redwire (NYSE:RDW) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $105.94 million. During the same period in the previous year, the firm earned ($0.09) EPS. The firm’s quarterly revenue was up 57.9% on a year-over-year basis. As a group, equities research analysts expect that Redwire Corporation will post -0.7 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ae Red Holdings, Llc sold 7,500,000 shares of Redwire stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $9.15, for a total value of $68,625,000.00. Following the transaction, the director owned 36,135,217 shares of the company’s stock, valued at $330,637,235.55. The trade was a 17.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 23,327,795 shares of company stock valued at $228,806,188. 0.79% of the stock is owned by insiders.

Institutional Trading of Redwire

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC acquired a new stake in Redwire in the 1st quarter worth approximately $28,000. KBC Group NV acquired a new stake in Redwire in the 1st quarter worth approximately $29,000. Sunbelt Securities Inc. boosted its stake in Redwire by 601.1% in the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock worth $30,000 after purchasing an additional 3,396 shares in the last quarter. CWM LLC boosted its stake 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 purchasing an additional 3,864 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake 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 worth $31,000 after purchasing an additional 3,668 shares in the last quarter. 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.