Redwire (NYSE:RDW) Trading Up 15.1% – Should You Buy?

Redwire Corporation (NYSE:RDW)’s stock price shot up 15.1% during mid-day trading on Thursday . The stock traded as high as $22.75 and last traded at $21.4290. 74,516,984 shares were traded during mid-day trading, an increase of 142% from the average session volume of 30,796,689 shares. The stock had previously closed at $18.62.

Analysts Set New Price Targets

RDW has been the topic of several research reports. Zacks Research raised Redwire from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Truist Financial raised Redwire to a “strong-buy” rating in a report on Friday, May 1st. Canaccord Genuity Group upped their target price on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a report on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. Finally, Jefferies Financial Group lowered Redwire from a “buy” rating to a “hold” rating and upped their target price for the company from $13.00 to $24.00 in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.44.

Redwire Trading Up 15.1%

The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of -8.00 and a beta of 2.92. The business has a 50 day moving average of $12.36 and a 200 day moving average of $9.94.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). The company had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The firm’s revenue was up 57.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.09) EPS. On average, research analysts forecast that Redwire Corporation will post -0.7 earnings per share for the current fiscal year.

Insider Activity at Redwire

In related news, Director Ae Red Holdings, Llc sold 977,887 shares of the stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $10.57, for a total transaction of $10,336,265.59. Following the transaction, the director directly owned 21,494,349 shares in the company, valued at approximately $227,195,268.93. This represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 23,327,795 shares of company stock worth $228,806,188 over the last quarter. 0.79% of the stock is owned by company insiders.

Institutional Trading of Redwire

A number of hedge funds have recently added to or reduced their stakes in RDW. Bank of America Corp DE boosted its stake in Redwire by 7,512.5% in the 1st quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock worth $57,970,000 after buying an additional 6,730,414 shares during the last quarter. AE Industrial Partners LP boosted its stake in Redwire by 7.1% in the 3rd quarter. AE Industrial Partners LP now owns 91,598,704 shares of the company’s stock worth $823,472,000 after buying an additional 6,101,959 shares during the last quarter. State Street Corp boosted its stake in Redwire by 61.1% in the 4th quarter. State Street Corp now owns 4,708,600 shares of the company’s stock worth $35,785,000 after buying an additional 1,786,038 shares during the last quarter. UBS Group AG boosted its stake in Redwire by 140.8% in the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock worth $15,503,000 after buying an additional 1,192,885 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Redwire in the 4th quarter worth about $7,676,000. 8.10% of the stock is 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.