Redwire (NYSE:RDW) Shares Up 9.5% – Time to Buy?

Redwire Corporation (NYSE:RDW)’s share price rose 9.5% on Tuesday . The stock traded as high as $9.54 and last traded at $9.4150. 19,500,202 shares were traded during trading, a decline of 36% from the average session volume of 30,651,469 shares. The stock had previously closed at $8.60.

Analyst Ratings Changes

RDW has been the topic of several recent research reports. Canaccord Genuity Group upped their price objective on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of Redwire from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Jefferies Financial Group upgraded shares of Redwire to a “hold” rating in a report on Wednesday, June 10th. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Price Performance

The company’s 50-day moving average is $14.23 and its 200-day moving average is $11.39. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -3.35 and a beta of 3.01. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.75 and a quick ratio of 1.37.

Redwire (NYSE:RDW) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share 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 company had revenue of $96.97 million for the quarter, compared to analysts’ expectations of $105.94 million. During the same period in the prior year, the business earned ($0.09) EPS. The business’s revenue for the quarter was up 57.9% on a year-over-year basis. On average, research analysts expect that Redwire Corporation will post -0.74 earnings per share for the current year.

Insider Activity at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $21.48, for a total value of $22,995,736.20. Following the transaction, the director directly owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. The trade was a 49.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Redwire

A number of hedge funds have recently made changes to their positions in RDW. Tema ETFs LLC increased its holdings in Redwire by 51,491.5% in the 2nd quarter. Tema ETFs LLC now owns 621,162 shares of the company’s stock valued at $7,597,000 after purchasing an additional 619,958 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in Redwire by 82.7% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 63,067 shares of the company’s stock worth $771,000 after acquiring an additional 28,540 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Redwire during the second quarter valued at approximately $1,730,000. Militia Capital Management LLC acquired a new position in shares of Redwire during the first quarter worth $281,000. Finally, Parallel Advisors LLC acquired a new stake in Redwire during the 1st quarter valued at $28,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

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.