Redwire (NYSE:RDW) Stock Price Up 8% – Still a Buy?

Redwire Corporation (NYSE:RDW)’s stock price was up 8% on Monday . The stock traded as high as $11.70 and last traded at $11.60. Approximately 13,912,238 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 26,872,275 shares. The stock had previously closed at $10.74.

Analyst Ratings Changes

RDW has been the subject of several research reports. Bank of America lifted their price objective on shares of Redwire from $7.00 to $8.00 and gave the company an “underperform” rating in a research note on Monday, August 31st. Cantor Fitzgerald raised their target price on shares of Redwire from $9.00 to $13.50 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a research report on Friday, July 17th. Guggenheim began coverage on shares of Redwire in a report on Monday, September 14th. They issued a “neutral” rating on the stock. Finally, Jefferies Financial Group set a $15.00 price target on Redwire in a research report on Sunday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $14.69.

Redwire Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48. The stock has a fifty day simple moving average of $10.79 and a 200-day simple moving average of $11.70. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of -7.67 and a beta of 3.08.

Redwire (NYSE:RDW) last posted its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. The firm had revenue of $117.07 million during the quarter, compared to analyst estimates of $107.10 million. On average, equities research analysts anticipate that Redwire Corporation will post -0.7 EPS for the current year.

Institutional Investors Weigh In On Redwire

Several hedge funds have recently modified their holdings of RDW. Bouchey Financial Group Ltd. purchased a new stake in shares of Redwire during the second quarter worth $141,000. Tidal Investments LLC purchased a new stake in Redwire during the 2nd quarter valued at about $7,717,000. Integrated Wealth Concepts LLC acquired a new stake in Redwire in the 2nd quarter valued at about $635,000. IFP Advisors Inc raised its holdings in Redwire by 3,662.5% in the 2nd quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock valued at $44,000 after acquiring an additional 3,516 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in Redwire by 160.5% in the 2nd quarter. Allworth Financial LP now owns 7,341 shares of the company’s stock worth $90,000 after purchasing an additional 4,523 shares in the last quarter. 8.10% of the stock is owned by hedge funds and other institutional investors.

About Redwire

Redwire Corporation is a space infrastructure and technology company that develops products and services for government, commercial and international space customers. Its capabilities support the design, manufacture and operation of spacecraft, space systems and related infrastructure across missions in low Earth orbit and beyond.

The company’s offerings include digital engineering and mission-support services, spacecraft platforms, avionics, sensors, power systems, deployable structures and solar arrays.