Redwire (NYSE:RDW) Shares Up 4.7% – What’s Next?

Redwire Corporation (NYSE:RDW) shares rose 4.7% on Tuesday . The company traded as high as $12.50 and last traded at $12.2450. 34,894,762 shares traded hands during mid-day trading, an increase of 8% from the average daily volume of 32,254,920 shares. The stock had previously closed at $11.69.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RDW. Zacks Research upgraded Redwire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Redwire in a report on Tuesday, April 21st. Canaccord Genuity Group lifted their target price on Redwire from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Jefferies Financial Group upgraded Redwire to a “hold” rating in a report on Wednesday, June 10th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Redwire in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $15.44.

Redwire Stock Up 4.7%

The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $2.92 billion, a P/E ratio of -4.57 and a beta of 2.91. The stock’s 50-day simple moving average is $14.24 and its 200-day simple moving average is $11.07.

Redwire (NYSE:RDW) last posted its 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 return on equity of 11.68% and a negative net margin of 80.90%.The firm had revenue of $96.97 million for the quarter, compared to the consensus estimate of $105.94 million. During the same period in the prior year, the business earned ($0.09) EPS. Redwire’s quarterly revenue was up 57.9% compared to the same quarter last year. As a group, research analysts predict that Redwire Corporation will post -0.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business’s stock in a transaction on 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 transaction, the director owned 1,077,419 shares of the company’s stock, valued at approximately $23,142,960.12. The trade was a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 13,211,433 shares of company stock worth $147,576,208 in the last 90 days. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Redwire

A number of hedge funds have recently made changes to their positions in RDW. Parallel Advisors LLC bought a new position in Redwire during the first quarter valued at about $28,000. KBC Group NV purchased a new position in Redwire in the first quarter valued at about $29,000. Sunbelt Securities Inc. grew its position in shares of Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after acquiring an additional 3,396 shares during the period. CWM LLC grew its position in shares of Redwire by 1,725.0% during the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after acquiring an additional 3,864 shares during the period. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Redwire by 1,054.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock worth $31,000 after purchasing an additional 3,668 shares during the last quarter. 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.