Redwire (NYSE:RDW) Announces Earnings Results

Redwire (NYSE:RDW) released its earnings results on Wednesday. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.42), FiscalAI reports. Redwire had a negative return on equity of 16.24% and a negative net margin of 70.32%.The business had revenue of $108.79 million for the quarter, compared to analyst estimates of $98.78 million.

Redwire Stock Up 1.5%

Shares of Redwire stock traded up $0.13 during trading on Wednesday, reaching $8.55. The company had a trading volume of 13,733,046 shares, compared to its average volume of 28,236,318. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.05 and a current ratio of 1.41. Redwire has a fifty-two week low of $4.87 and a fifty-two week high of $22.25. The firm’s fifty day moving average is $9.58 and its 200-day moving average is $8.47. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -2.70 and a beta of 2.44.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 49,985 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $10.01, for a total transaction of $500,349.85. Following the transaction, the director owned 45,094,000 shares of the company’s stock, valued at $451,390,940. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 40,400,346 shares of company stock valued at $453,127,301 over the last three months. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp grew its holdings 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 worth $35,785,000 after purchasing an additional 1,786,038 shares in the last quarter. Van ECK Associates Corp increased its holdings in Redwire by 231.0% during the 4th quarter. Van ECK Associates Corp now owns 1,436,535 shares of the company’s stock valued at $10,918,000 after purchasing an additional 1,002,504 shares in the last quarter. Two Sigma Investments LP raised its position in Redwire by 489.3% in the 3rd quarter. Two Sigma Investments LP now owns 1,049,292 shares of the company’s stock valued at $9,433,000 after purchasing an additional 871,223 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in Redwire in the fourth quarter worth $5,869,000. Finally, UBS Group AG raised its stake in shares of Redwire by 460.5% in the third quarter. UBS Group AG now owns 847,017 shares of the company’s stock worth $7,615,000 after acquiring an additional 695,899 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RDW. KeyCorp started coverage on Redwire in a report on Thursday, December 18th. They issued a “sector weight” rating for the company. HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Redwire in a report on Tuesday, December 23rd. Roth Mkm reaffirmed a “buy” rating and set a $20.00 price target on shares of Redwire in a research note on Wednesday, January 28th. Truist Financial set a $13.00 target price on Redwire in a research note on Friday, January 9th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research note on Thursday, November 6th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $13.75.

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.