Redwire (NYSE:RDW) Stock Price Up 1% – Should You Buy?

Shares of Redwire Corporation (NYSE:RDW) rose 1% during mid-day trading on Tuesday . The company traded as high as $11.85 and last traded at $11.4950. Approximately 10,760,112 shares were traded during trading, a decline of 62% from the average daily volume of 28,527,344 shares. The stock had previously closed at $11.38.

Wall Street Analyst Weigh In

RDW has been the topic of a number of recent analyst reports. Truist Financial upgraded Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Canaccord Genuity Group upped their price target on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a report on Sunday, August 9th. Finally, Wall Street Zen raised shares of Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.44.

Redwire Stock Down 0.0%

The firm has a market cap of $2.82 billion, a P/E ratio of -7.71 and a beta of 3.05. The company has a current ratio of 3.92, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $11.02 and a 200-day moving average price of $11.42.

Redwire (NYSE:RDW) last released its quarterly earnings data 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 return on equity of 11.02% and a negative net margin of 57.26%.The firm had revenue of $117.07 million during the quarter, compared to the consensus estimate of $107.10 million. On average, equities analysts forecast that Redwire Corporation will post -0.68 EPS for the current fiscal year.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction 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. This trade represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RDW. BlackRock Inc. purchased a new stake in shares of Redwire during the 2nd quarter worth $196,514,000. Van ECK Associates Corp raised its holdings in Redwire by 173.0% in the second quarter. Van ECK Associates Corp now owns 6,851,228 shares of the company’s stock worth $83,791,000 after purchasing an additional 4,341,424 shares in the last quarter. Bank of America Corp DE raised its holdings in Redwire by 7,512.5% in the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock worth $57,970,000 after purchasing an additional 6,730,414 shares in the last quarter. State Street Corp lifted its position in shares of Redwire by 61.1% during the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after buying an additional 1,786,038 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Redwire by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,242,848 shares of the company’s stock valued at $29,153,000 after buying an additional 91,045 shares in the last quarter. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

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.