Redwire (NYSE:RDW) Shares Up 1.7% – Still a Buy?

Shares of Redwire Corporation (NYSE:RDW) rose 1.7% during trading on Friday . The company traded as high as $10.72 and last traded at $10.55. Approximately 8,890,014 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 27,630,023 shares. The stock had previously closed at $10.37.

Analyst Ratings Changes

A number of research firms have recently issued reports on RDW. Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Cantor Fitzgerald increased their price objective on shares of Redwire from $9.00 to $13.50 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Jefferies Financial Group set a $15.00 price objective on shares of Redwire in a report on Sunday, August 9th. Bank of America upped their target price on shares of Redwire from $7.00 to $8.00 and gave the company an “underperform” rating in a research note on Monday. Finally, Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.69.

Redwire Stock Performance

The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -7.23 and a beta of 3.08. The stock’s 50-day simple moving average is $10.78 and its 200 day simple moving average is $11.49.

Redwire (NYSE:RDW) last announced its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping 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 business had revenue of $117.07 million for the quarter, compared to the consensus estimate of $107.10 million. Analysts expect that Redwire Corporation will post -0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Redwire

In related 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Redwire

A number of large investors have recently modified their holdings of RDW. BlackRock Inc. bought a new position in Redwire in the 2nd quarter worth approximately $196,514,000. Bank of America Corp DE lifted its stake in shares of Redwire by 7,512.5% during the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock valued at $57,970,000 after acquiring an additional 6,730,414 shares during the period. Van ECK Associates Corp boosted 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 valued at $83,791,000 after acquiring an additional 4,341,424 shares during the last quarter. California State Teachers Retirement System increased its position in Redwire by 2,236.7% in the second quarter. California State Teachers Retirement System now owns 2,302,310 shares of the company’s stock worth $28,157,000 after purchasing an additional 2,203,783 shares during the period. Finally, State Street Corp lifted its position in Redwire by 61.1% during the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after purchasing an additional 1,786,038 shares during the period. 8.10% of the stock is currently owned by institutional investors and hedge funds.

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.