Redwire (NYSE:RDW) Trading Up 1.8% – Still a Buy?

Redwire Corporation (NYSE:RDW) shares traded up 1.8% on Monday . The company traded as high as $8.88 and last traded at $8.6050. Approximately 16,853,366 shares were traded during mid-day trading, a decline of 45% from the average session volume of 30,749,371 shares. The stock had previously closed at $8.45.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Canaccord Genuity Group raised their price target on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Wednesday, April 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research report on Tuesday, April 21st. Jefferies Financial Group raised shares of Redwire to a “hold” rating in a research note on Wednesday, June 10th. Finally, Wall Street Zen cut shares of Redwire from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.44.

Redwire Price Performance

The company has a market capitalization of $2.06 billion, a PE ratio of -3.21 and a beta of 3.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75. The stock has a 50 day moving average price of $14.40 and a two-hundred day moving average price of $11.37.

Redwire (NYSE:RDW) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.24). Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The firm had revenue of $96.97 million during the quarter, compared to the consensus estimate of $105.94 million. During the same period in the previous year, the firm posted ($0.09) EPS. The company’s quarterly revenue was up 57.9% compared to the same quarter last year. Equities analysts forecast that Redwire Corporation will post -0.81 earnings per share for the current year.

Insider Transactions at Redwire

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total value of $22,995,736.20. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Parallel Advisors LLC bought a new position in shares of Redwire during the 1st quarter valued at $28,000. KBC Group NV bought a new stake in Redwire in the first quarter worth $29,000. Sunbelt Securities Inc. boosted its holdings in Redwire by 601.1% in the fourth 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 increased its position in Redwire by 1,725.0% during the fourth quarter. CWM LLC now owns 4,088 shares of the company’s stock worth $31,000 after buying an additional 3,864 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in Redwire by 1,054.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after buying an additional 3,668 shares during the last quarter. Institutional investors and hedge funds 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.