Redwire (NYSE:RDW) Trading 3.8% Higher – Here’s What Happened

Redwire Corporation (NYSE:RDW)’s share price traded up 3.8% during trading on Thursday . The company traded as high as $15.39 and last traded at $15.3330. 44,061,229 shares were traded during mid-day trading, an increase of 63% from the average session volume of 26,988,939 shares. The stock had previously closed at $14.77.

Wall Street Analyst Weigh In

RDW has been the topic of several recent research reports. Alliance Global Partners restated a “buy” rating on shares of Redwire in a report 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 restated a “buy” rating and issued a $13.00 target price on shares of Redwire in a report on Sunday, May 10th. Truist Financial raised shares of Redwire to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Canaccord Genuity Group increased their price objective on shares of Redwire from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Redwire currently has an average rating of “Moderate Buy” and a consensus price target of $14.22.

Redwire Stock Up 13.9%

The company has a market cap of $3.36 billion, a P/E ratio of -6.52 and a beta of 2.41. 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 business’s fifty day moving average is $10.42 and its two-hundred day moving average is $9.07.

Redwire (NYSE:RDW) last issued its earnings results on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The company had revenue of $96.97 million during the quarter, compared to the consensus estimate of $105.94 million. During the same quarter in the prior year, the company earned ($0.09) earnings per share. Redwire’s revenue was up 57.9% on a year-over-year basis. Equities analysts predict that Redwire Corporation will post -0.7 EPS for the current year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 7,500,000 shares of Redwire stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $9.15, for a total transaction of $68,625,000.00. Following the completion of the sale, the director directly owned 36,135,217 shares of the company’s stock, valued at $330,637,235.55. The trade was a 17.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 23,327,795 shares of company stock worth $228,806,188. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Redwire

Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in Redwire by 125.0% in the first quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock worth $426,000 after acquiring an additional 28,576 shares during the period. Goldman Sachs Group Inc. increased its position in Redwire by 352.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock valued at $2,945,000 after purchasing an additional 276,814 shares during the period. Strs Ohio bought a new stake in shares of Redwire in the 1st quarter valued at about $69,000. Rhumbline Advisers lifted its position in shares of Redwire by 61.0% in the 2nd quarter. Rhumbline Advisers now owns 56,517 shares of the company’s stock worth $921,000 after purchasing an additional 21,417 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Redwire by 57.6% in the 2nd quarter. Invesco Ltd. now owns 21,198 shares of the company’s stock valued at $346,000 after acquiring an additional 7,750 shares during the period. 8.10% of the stock is currently owned by institutional investors.

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.