Redwire (NYSE:RDW) Trading Up 1.4% – Should You Buy?

Redwire Corporation (NYSE:RDW) shares rose 1.4% on Tuesday . The company traded as high as $11.90 and last traded at $11.7630. 12,503,998 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 26,804,514 shares. The stock had previously closed at $11.60.

Wall Street Analysts Forecast Growth

RDW has been the subject of a number of research reports. Canaccord Genuity Group raised their target price on shares of Redwire from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Jefferies Financial Group set a $15.00 target price on Redwire in a report on Sunday, August 9th. Wall Street Zen raised Redwire from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Cantor Fitzgerald upped 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. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.69.

Redwire Price Performance

The stock has a market capitalization of $2.83 billion, a P/E ratio of -7.75 and a beta of 3.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48. The stock’s fifty day moving average is $10.83 and its 200-day moving average is $11.72.

Redwire (NYSE:RDW) last released its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. The firm had revenue of $117.07 million during the quarter, compared to analyst estimates of $107.10 million. On average, equities analysts anticipate that Redwire Corporation will post -0.7 earnings per share for the current year.

Institutional Investors Weigh In On Redwire

Institutional investors have recently bought and sold shares of the business. Parvin Asset Management LLC grew its stake in shares of Redwire by 6.9% during the first quarter. Parvin Asset Management LLC now owns 17,825 shares of the company’s stock valued at $152,000 after purchasing an additional 1,150 shares during the last quarter. Parallel Advisors LLC bought a new position in Redwire in the 1st quarter worth approximately $28,000. KBC Group NV bought a new position in Redwire in the 1st quarter worth approximately $29,000. IFP Advisors Inc lifted its holdings in Redwire by 3,662.5% during the 2nd quarter. IFP Advisors Inc now owns 3,612 shares of the company’s stock worth $44,000 after buying an additional 3,516 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in 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 buying an additional 3,668 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

About Redwire

Redwire Corporation is a space infrastructure and technology company that develops products and services for government, commercial and international space customers. Its capabilities support the design, manufacture and operation of spacecraft, space systems and related infrastructure across missions in low Earth orbit and beyond.

The company’s offerings include digital engineering and mission-support services, spacecraft platforms, avionics, sensors, power systems, deployable structures and solar arrays.